The Indian conglomerate Essar has announced that it will invest US$3.6bn in the United Kingdom and in India over the next five years through a new entity, named Essar Energy Transition (EET), with the goal to drive decarbonisation.

"Investment in new nuclear is a no-regrets option given expected increase in power demand and retirement of existing plants," the report said.

NNL said it has been working on this endeavor since 2009, when its researchers first discovered that americium-241, an alternative to Pu-238, is produced during the radioactive decay of used fuel from nuclear reactors and that it emits power for more than 400 years.

The plan is for Sizewell C to feature two EPRs producing 3.2 GW of electricity, enough to power the equivalent of around six million homes.

An “Energy Superhub” is being constructed in Coventry, a city in the middle of the UK, which will harmonize a number of renewable technologies to maximize the benefits of decarbonized electricity.

In collaboration with Urenco Ltd, Westinghouse will complete a Pre-Front End Engineering Design study for a secure and reliable supply of advanced TRi-structural ISOtropic (TRISO) fuels to support a range of potential high-temperature gas-cooled reactor (HTGR) technologies in development.

There is a huge potential fusion industry and businesses were urged to get involved in the supply chain now.

UK seeking to build on its established fusion research and resources and help make fusion energy a reality within the next few years.

The MRF is supported by the UK government's National Nuclear User Facility and Fusion Foundations programme. It is also part of the Henry Royce Institute for Advanced Materials and bridges the gap between university and nuclear licensed site laboratories.

The UK government has said it is currently scouring the market for potential gas import deals as part of a new supply security push.