The fund, announced in July, will award grants to businesses involved in uranium conversion, a key stage in the process of creating nuclear fuel from the metal. It will remain open for applications from Monday until Feb 20.

Russia currently owns around 20% of global uranium conversion capacity.

“Record high global gas prices, caused by Putin’s illegal invasion of Ukraine, have highlighted the need for more home-grown renewable energy, but also UK generated nuclear power – building more plants, and developing domestic fuel capability,” minister for energy and climate Graham Stuart said.

Up to £13 million from the fund has already been awarded to the Springfields nuclear fuel manufacturing site in northwest England, the government said.

Energy supply has become a key focus since its invasion of Ukraine drove costs sharply higher. Planned additions to nuclear electricity generation capacity will reduce Britain’s reliance on natural gas, which fuelled around 45% of generation in 2021.

Britain in November said it would become a 50% shareholder in the Sizewell C nuclear project by providing £700 million in funding to the plant, which is planned for southeast England.