Qatar takes 10% stake in Rolls-Royce's low-carbon nuclear business

  • 12/20/2021
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Dec 20 (Reuters) - Rolls-Royce (RR.L) said on Monday Qatar"s sovereign wealth fund would invest 85 million pounds ($112.12 million) in the British company"s new low-carbon nuclear power business in exchange for a 10% equity stake. The London-listed firm has agreed with the Qatar Investment Authority for the funding in its Small Modular Reactors business, which Rolls-Royce said was now fully funded having secured 490 million pounds through commercial equities and grants. "This investment is a clear vote of confidence in the UK"s global leadership in nuclear innovation," British Business Secretary Kwasi Kwarteng said in a statement. Qatar and Rolls-Royce said last month that they would team up in a multi-billion pound project to develop and invest in green technology start-ups in the UK and the Gulf Arab state. read more ($1 = 0.7581 pounds)

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