22 Jun (NucNet): UK-based engineering and technical services company Wood has launched a fund that will invest in technologies for nuclear decommissioning developed by small and medium sized enterprises (SMEs).
Wood said the aim of its Nuclear Innovation Fund is to bring about changes in the decommissioning or dismantling process at nuclear facilities by finding new ways to minimise human intervention, increase productivity and optimise waste treatment, packing and routing.
The company said it wants to support and fund projects to develop and apply decommissioning technologies.
Wood said many of the world’s existing nuclear facilities will be reaching their end of operating lifetimes over the next 20 years. The global nuclear decommissioning market is worth £6bn per annum and is forecast to rise to £7.5bn by 2020.
