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A much needed retrace - looking for the next leg upward
$13 getting ready to print - GIDDY UP LIL HORSIE
The price is down today. By the rumor sell the news situation? Either way I expect to see a delayed rally once the news catches on
Rolls-Royce welcomes Great British Nuclear decision on SMRs
Rolls-Royce SMR has been successful in the Great British Nuclear (GBN) competition to select a provider of small modular reactor (SMR) technology, in a boost to economic growth and exports that will create significant long-term value for Rolls-Royce (LSE: RR., ADR: RYCEY).
The success of Rolls-Royce SMR in the two-year-long process is testament to Rolls-Royce’s unique nuclear capability and the proven technologies within the SMR venture. Rolls-Royce SMR is 18 months ahead of its competition in the UK’s independent industry regulatory assessment process. The GBN decision will help the business retain its crucial first mover advantage in a market that is growing and attracting significant international interest.
Rolls-Royce SMR has been selected by GBN to build three SMR units in the UK. The success of Rolls-Royce SMR will generate employment, boost the supply chain and generate economic growth, including through the capture of significant export opportunities. It is also further evidence of the transformation of Rolls-Royce into a high-performing, competitive, resilient and growing business that is able to invest in its future growth to the benefit of all stakeholders.
Tufan Erginbilgic, CEO, Rolls-Royce, said:
This is a very significant milestone for our business and Rolls-Royce SMR. It is a vote of confidence in our unique nuclear capabilities, which will be recognised by governments around the world. It is also evidence that the strategic choices we have made in the transformation of Rolls-Royce are delivering. I believe the value of Rolls-Royce SMR will grow materially from here as we successfully execute and deliver on the potential of this venture. I would like to thank the team in Rolls-Royce SMR for their hard work and dedication in getting to this important stage.”
Rolls-Royce SMR is a business with a unique and differentiated product offering and an attractive business model. This announcement maintains its first mover advantage - with commitments made in the UK and the Czech Republic - and as the furthest through any European regulatory process.
The total market for SMRs is significant, with the International Energy Agency (IEA) currently forecasting that global electricity generation will double by 2050. Nuclear has a vital role to play both in the creation of energy supply security and the generation of carbon-free power.
US manufacturing increasing in America
Tufan Erginbilgic, CEO, Rolls-Royce, said:
The U.S. market is very important to Rolls-Royce. We have a proud history in America and we are committed to strengthening our presence to support further growth, bringing economic benefits and job opportunities. Today’s announcement is proof of the transformation of Rolls-Royce in action, enabling us to invest in areas of strategic focus, such as power generation.”
Rolls-Royce anticipates production at the Minnesota facility will increase by more than 120% by 2026 as compared to last year, with further growth expected in the future. The LOC is expected to become operational next spring, with new jobs created over the next three years.
The generator sets use mtu Series 4000 engines that are currently built at the Rolls-Royce facility in Aiken, South Carolina. The Aiken facility is also expected to see an increase in engine production, resulting in a further increase in headcount to keep up with demand.
This investment supports the strategic ambitions of Rolls-Royce to profitably grow the power generation operations of its Power Systems division. Last year sales of power generation products for the data center segment grew almost 50%. The U.S. leads the data center market, with more than half of the world’s hyperscale data centers located in the country. As much as $1 trillion is expected to be spent in the U.S. on AI data centers, components, and associated infrastructure over the next few years.
Joerg Stratmann, CEO of Power Systems, Rolls-Royce, said:
Our hyperscale data center customers have relied on our solutions and partnership for mission critical power for over 15 years – a result of our strategic focus and continuous investment in this sector. This deliberate market positioning has enabled us to effectively address the exponential rise in demand from the data center industry, particularly in the U.S. where this critical new infrastructure will be built.”
The LOC will provide additional capacity for both logistics and assembly operations for the Mankato plant, which exclusively manufactures power generation systems. It also supports the company’s firm commitment to safety by allowing all logistics and assembly activities to be conducted in climate-controlled environments, even with the significant increase in throughput. The LOC offers the development of future capacity and capabilities as the energy landscape continues to evolve.
Since acquiring the business in 2007, Rolls-Royce has continued to invest in its manufacturing operations at the Mankato site, most recently completing a $13.9m expansion of the main manufacturing site and the addition of a research and development center in 2021.
But I feel like it could increase positive sentiment and then we could really rally..
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