Wood Group launches nuclear fund initiative

Wood Group has unveiled a new fund that will invest in technologies for nuclear decommissioning developed by small and medium-sized enterprises (SMEs).

Sir Ian Wood. Picture: Jon Savage
Sir Ian Wood. Picture: Jon Savage

The Wood Nuclear Innovation Fund aims to bring about a “step change” in the decommissioning or ­dismantling process at nuclear facilities by finding new ways to “minimise human intervention, increase productivity and optimise waste treatment”.

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Bob MacDonald, head of specialist technical solutions at Aberdeen-headquartered Wood, said: “Wood is already investing seedcorn funding in a number of areas… and now we are inviting SMEs to put forward investment-ready proposals.”