Rolls-Royce (OTCPK:RYCEY) has raised £455M ($617M) toward the development of small modular nuclear reactors in the U.K., with almost half coming from government, Bloomberg reports.
The result reportedly will allow Rolls to move to phase two of the project, to focus on obtaining reactor design approval and identifying sites for manufacturing parts for on-site assembly of the plants.
Rolls-Royce has said it needs ~£2B to bring its plans to fruition.
Separately, Rolls-Royce awarded a 10-year contract extension to Triumph Group (NYSE:TGI) to build and test complex gear boxes and loose gears on a variety of programs to support Rolls' portfolio of engines on fixed wing and rotary platforms.