Economy Secretary Ken Skates has announced a second tranche of funding to support businesses in Wales to take advantage of the multi-billion pound opportunities in the nuclear industry.

The £450,000 funding will secure support for a cohort of 50 companies on the Fit For Nuclear (F4N) programme – a unique service to help UK manufacturers get ready to bid for work in the civil nuclear supply chain.

The programme enables companies to measure their operations against the standards required to supply the nuclear industry – in new build, operations and decommissioning – and take the necessary steps to close any gaps.

Forecasts suggest that globally, over the next twenty years, there will be £930billion investment in new nuclear reactors and £250billion in the decommissioning of existing nuclear reactors.

Ken Skates said:

“The nuclear sector will provide a wide range of business opportunities over the next twenty years and we want to ensure that businesses in Wales are in a position to bid for and win a share of this business. “In Wales, research has identified that Welsh businesses have the potential, with the relevant accreditations and organisational systems, to compete for a significant proportion of nuclear sector contracts both in Wales and further afield and Welsh Government is eager to support business efforts to maximise their share for the benefit of the Welsh economy.”

Helen Arthur, F4N programme manager at the Nuclear AMRC, said:

“The 20 Welsh companies currently working through the F4N programme have highlighted the wealth of high-quality manufacturers in Wales which could meet the demands of the nuclear industry. We are very excited to continue working with the Welsh Government to make sure that more Welsh manufacturers can access our support and get ready to win work in the nuclear supply chain at home and worldwide.”

F4N has been developed by the Nuclear Advanced Manufacturing Research Centre (AMRC), part of Sheffield University, with the support of its top tier partners, including nuclear new build developers and the Nuclear Decommissioning Authority, which use the programme to identify potential companies for their supply chains.

There is no set timescale for businesses to undergo an assessment to being granted Fit For Nuclear status but most achieve it within 12-18 month timeframe.

Expressions of interest are now being sought from businesses in Wales wishing to participate in the F4N programme. Eligible companies must have a manufacturing facility in Wales, a turnover of £1.6m or above and employ ten or more people.

Participating companies range from contract manufacturers with no nuclear experience – that are aiming to take a first step into the sector – to established suppliers wanting to benchmark their position and drive business excellence.

For more information and to register an expression of interest by 1 August 2017 business should contact: [email protected] or visit here.