A 35-year income strip forward funding agreement with Legal & General was agreed this month, with the £40 million building comprising engineering and office space due to be completed in mid-2024. Planning permission has been granted and the work will be carried out by Kier construction.
It is the latest boost for the evolving South Oxfordshire campus and forms part of a major regeneration programme. It will facilitate growth and deliver economic gains while helping to solve complex and critical challenges across a range of sectors.
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In June 2021, UKAEA and General Fusion announced the Canadian firm would build its Fusion Demonstration Plant at the Culham campus. In addition, further upgrades are taking place across the UKAEA site to advance fusion energy and adjacent technologies, including robotics, computing and artificial intelligence. Applications for these technologies are expected in a range of fields, including space exploration, mining, healthcare, and transport.
Antonia Jenkinson, UKAEA's Chief Financial Officer and Director of Property, said: "We believe fusion could be part of the world's future energy mix, and are working with a wide range of science, engineering, and technology companies at our Culham Science Centre to achieve it.
"Our work here continues to create jobs and drive economic growth, while helping place the UK at the forefront of the international scientific community. This new investment into Culham will help support companies contributing to the UK’s world-recognised fusion technology cluster, while developing a supply chain and skills base required to solve challenges across a much broader range of sectors."
