Defence, security, transport and energy company Ultra Electronics on Thursday signed a memorandum of understanding with AREVA to initiate a future partnership in nuclear power generation and the build of new EPR (Eurpean pressurized water) reactors in the UK.
The agreement covers potential collaboration on instrumentation and control systems including reactor protection and control and relates to the two EPR reactors planned by EDF Energy at Hinkley Point for which a site licence was granted last month.
The firm said the collaboration could also extend to other EPR reactors including those planned at Sizewell.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Rakesh Sharma, Chief Executive of Ultra, said: "I am pleased to have signed this agreement which recognises Ultra's position in the supply of safety critical instrumentation & control to the global nuclear industry. Through our continuing strategic relationship we are happy to support AREVA with our proven range of proven specialist technologies."
The share price fell 0.37% to 1,621p by 09:15.
NR
-
New Chase bonus deal takes savings rate to 4.75% – is it worth it?Chase’s latest savings deal propels it into first place in the best-buy tables, but there are some pitfalls to look out for
-
Review: Trasierra – a yoga retreat in the Spanish hillsFlora Connell joins a yoga retreat at Trasierra, in the Sierra Morena mountains north of Seville
