Rolls-Royce secures £450m to build mini nuclear reactors

Rolls-Royce (RR.L) $ROLLS ROYCE HOLDINGS(RYCEF.US)$ stock popped on Tuesday morning in London following news that it had been cleared by a consortium of private investors and the UK government to develop small nuclear reactors.

The reactors, which would be part of the drive to generate clean energy, were backed to the tune of £195m ($264.5m) from private firms and a £210m grant from the government as part of the government’s green 10 point plan to kickstart the green economy over the next decade. The project is also set to receive a second phase top-up of £50m from Rolls-Royce.