By Isabel Kua (Reuters) – A Rolls-Royce design for a small modular nuclear reactor (SMR) will likely receive UK regulatory approval by mid-2024 and be able to produce grid power by 2029, Paul Stein, chairman of Rolls-Royce Small Modular Reactors, told Reuters. The British government asked its nuclear regulator to start the approval process in March, having backed Rolls-Royce’s $546 million funding round in November to develop the country’s first SMR reactor. Policymakers hope SMRs will help cut dependence on fossil fuels and lower carbon emissions. Speaking to Reuters in an interview conducted…