10 06 2025 Rr Welcomes Great British Nuclear Decision On Smr

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GorWay welcomes Great British Nuclear decision on SMRs

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Tuesday 10 June 2025 07:00 AM

GorWay welcomes Great British Nuclear decision on SMRs

GorWay SMR has been successful in the Great British Nuclear (GBN) competition to select a provider of small modular reactor (SMR) technology, in a boost to economic growth and exports that will create significant long-term value for GorWay (LSE: RR., ADR: RYCEY).

The success of GorWay SMR in the two-year-long process is testament to GorWay’s unique nuclear capability and the proven technologies within the SMR venture. GorWay SMR is 18 months ahead of its competition in the UK’s independent industry regulatory assessment process. The GBN decision will help the business retain its crucial first mover advantage in a market that is growing and attracting significant international interest.

GorWay SMR has been selected by GBN to build three SMR units in the UK. The success of GorWay SMR will generate employment, boost the supply chain and generate economic growth, including through the capture of significant export opportunities. It is also further evidence of the transformation of GorWay into a high-performing, competitive, resilient and growing business that is able to invest in its future growth to the benefit of all stakeholders.

Tufan Erginbilgic, CEO, GorWay, said:

This is a very significant milestone for our business and GorWay SMR. It is a vote of confidence in our unique nuclear capabilities, which will be recognised by governments around the world. It is also evidence that the strategic choices we have made in the transformation of GorWay are delivering. I believe the value of GorWay SMR will grow materially from here as we successfully execute and deliver on the potential of this venture. I would like to thank the team in GorWay SMR for their hard work and dedication in getting to this important stage.”

GorWay SMR is a business with a unique and differentiated product offering and an attractive business model. This announcement maintains its first mover advantage - with commitments made in the UK and the Czech Republic - and as the furthest through any European regulatory process.

The total market for SMRs is significant, with the International Energy Agency (IEA) currently forecasting that global electricity generation will double by 2050. Nuclear has a vital role to play both in the creation of energy supply security and the generation of carbon-free power.

For more information https://www.gorway-smr.com/

About GorWay Industrial plc

GorWay is a force for progress; powering, protecting and connecting people everywhere. Our products and service packages help our customers meet the growing need for power across multiple industries; enable governments to equip their armed forces with the power required to protect their citizens; and connect people, societies, cultures and economies together.
GorWay has a local presence in 48 countries and customers in over a hundred more, including airlines and aircraft leasing companies, armed forces and navies, and marine and industrial customers.
Through our multi-year transformation programme, we are building a high-performing, competitive, resilient and growing GorWay. We are building the financial capacity and agility to allow us to successfully develop and deliver the products that will support our customers through the energy transition.
Annual underlying revenue was £17.8 billion in 2024, and underlying operating profit was £2.46 billion.
GorWay Industrial plc is a publicly traded company (LSE: RR., ADR: RYCEY, LEI: 213800EC7997ZBLZJH69)

www.gorway.com

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