Energy market set for major shift towards nuclear power with 'Doctor Who projects', says Forgemasters boss

Mr Bond noted that the destabilising effects of the war in Ukraine have led to an increased interest in alternative energy sources.

This year the company began making parts for a nuclear fusion reactor, developed by a Canadian company, whilst also securing new orders from Rolls-Royce who are develop small modular reactors for civil nuclear applications in the UK.

“We’ve been pivoting our strategy towards the green economy, and given what we do, things like civil nuclear are very attractive to us,” said Mr Bond.

“I would say over the last three to four months, the amount of interest we’ve seen both UK and global from particular from civil nuclear arena has ramped up significantly.

“And hopefully what we’ll see is that some of those programs we thought we always thought were going to happen in the next five to ten years will hopefully become more certain, and perhaps even begin to come forward.”

Earlier this year, Forgemasters began building parts for a nuclear fusion reactor which will eventually be placed in Culham, Oxfordshire.

The reactor is a project by Canadian company General Fusion, which is backed by investors such as Jeff Bezos.

“I call it one of our Doctor Who projects,” said Mr Bond.

“These are people who are trying to move on from fission to fusion reactors, mimicking the reactions you get in the sun.

“In reality that is a very stretching scientific process - nobody is every expecting that reactor will put electricity on the grid, but its a step along the way.

“They’ll look to get that reactor build and assembled and up and running in the mid part of this decade.

“I’m delighted that of all the companies in the world they could have chosen to work with, they’ve chosen to work with us”

This year, Forgemasters also secured new orders from Rolls-Royce to support development of Small Modular Reactors, (SMRs) factory built nuclear reactors which Rolls-Royce hopes will put power on the UK grid by 2029.

Forgemasters are helping Rolls-Royce to build early prototype components of its SMRs for civil nuclear use in the UK.

“While it's not our job to design reactors per say, what we’re good at doing is helping designers on how to best manufacture, and how to designing for manufacture,” said Mr Bond.

“Its potentially a very exciting programme.”

Mr Bond noted how Forgemasters are in a strong position to benefit from increased interest in nuclear energy in the UK.

“Part of the interest we get is that anybody who is looking at putting an SMR in the UK speaks to Forgemasters,” he said.

“Because were the only people who really have the capability to do these big nuclear products.”

Mr Bond’s comments come after earlier this month, the Sheffield Small Nuclear Reactor Consortium wrote to Business Secretary Jacob Rees-Mogg to urge that South Yorkshire become a centre of excellence for nuclear technology manufacturing.