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In a press release the companies said that “contributing to the acceleration of the transition towards a low-carbon future” was the goal of MOU.

The two companies will work together to support the development, expanded global presence, and adoption of Small Modular Reactors (SMR), smaller reactors of around 300 MW which are modular and flexible, and the subsequent adoption of Advanced Modular Reactors (AMR), nuclear fission reactors which use fourth generation technology.

Investment in nuclear energy is increasing globally - The International Energy Agency (IEA) estimates that nuclear energy has around 413 gigawatts (GW) of capacity operating in 32 countries. SMRs and AMRs are predicted to be key tools for generating relatively cheap and ‘clean’ energy in the future with the IEA estimating that, “nuclear power has avoided nearly 70 Gt of CO2 emissions over the past 50 years, concentrated in long-time market leaders.”

The MOU states that the two parties will collaborate over the next five years.

Ansaldo Nucleare is a subsidiary of Ansaldo Energia, a leading technology provider in the Italian power generation sector. The company will share its skills in the engineering and manufacturing areas where it has installed 280,000 MW of power across the world (gas and steam turbines), its many decades of experience in the nuclear sector and the development of solutions for the generation of hydrogen and micro-generation.

WeBuild days that the energy sector is of “great strategic value” for the company, and that its clean energy generation projects include the Grand Ethiopian Renaissance Dam Project, the Rogun hydroelectric project in Tajikistan, with the world’s highest dam, and Snowy 2.0 in Australia, a hydroelectric plant destined to be one of the world’s most efficient.