$100m raised by UK floating nuclear power plant startup Core Power

Most of the money has come from 13 Japanese companies including Onomichi Dockyard and  Imabari Shipbuilding.

Core Power is collaborating in a $600 million development programme with TerraPower of the US, backed by Bill Gates, Southern Company of the U.S and Orano of France.

Floating nuclear power plants are smaller, more efficient, safer and less expensive than on-shore plants  and are unaffected by earthquakes.

The 300,000kw reactors being developed by Core Power, TerraPower and Orano are molten chloride fast reactors which use liquid fuel with a high boiling point that can operate at normal pressure, so eliminating the need for the pressurisation equipment which reduces the size of the plant

The plan is to launch a demonstration vessel costing $361 million in 2026 and commercialise it between 2030 and 2032.