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).

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”.

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.”