Rolls-Royce (OTCPK:RYCEY) (OTCPK:RYCEF) is poised to obtain the first order from a European government to build a fleet of small nuclear reactors, after the company beat out six competitors to be named the preferred supplier by Czech Republic state utility CEZ,

The Czech Republic has chosen UK firm Rolls-Royce SMR after assessing seven potential technology suppliers for its proposed small modular reactor programme.

Rolls-Royce is on course to secure the first order from a European government to build a fleet of mini nuclear reactors after being selected as the preferred supplier in a competition overseen by the Czech government.

The British engineering giant's stock rose 5% - taking gains since Tufan Erginbilgic (pictured) became chief exec at the start of 2023 to 462%.

By Albin Sybera CEZ, the Czech Republic's state-controlled energy group, has chosen the UK's Rolls Royce as its partner to develop small modular reactors (SMRs). The decision is a blow to rival bidders Westinghouse and GE Hitachi of the US.