TORONTO (ON) – Moltex Energy is encouraged by a pledge from the provincial governments in New Brunswick (NB), Ontario (ON) and Saskatchewan (SK) to work cooperatively on the development and deployment of Small Modular Reactors (SMRs).
At a ceremony in Toronto today, Premier Blaine Higgs (NB), Premier Doug Ford (ON) and Premier Scott Moe (SK) and their respective energy ministers signed a Memorandum of Understanding that commits the provinces to work cooperatively to advance key issues related to SMRs including, technological readiness, regulatory frameworks, economics and financing, nuclear waste management and public and Indigenous engagement.
“With this new commitment to work collaboratively on advancing the development of SMRs, Canada has solidified its place as a leader in the nuclear industry,” said Rory O’Sullivan, Chief Executive Officer, North America for Moltex Energy. “In the fight against climate change, nuclear power is essential to address our global energy issues as intermittent renewables alone cannot meet the current and future demand and today’s announcement gets us one step closer to the deployment of SSRs across Canada”.
Moltex Energy’s breakthrough science uses spent fuel from nuclear reactors and converts it to low cost electricity. They start by processing existing spent fuel pellets to create a new liquid fuel for the reactor. This fuel is used in the Stable Salt Reactor (SSR) to create more clean energy which Moltex is working hard to build at the Point Lepreau Nuclear Generating Station in New Brunswick. NB Power and Ontario Power Generation are involved in this project and provide advice and guidance.
The SSR has many advantages. This technology can produce power at a lower cost than fossil fuelled power generation, it can store energy to complement intermittent renewable energy sources and largely eliminates the problem of nuclear waste from current nuclear power generating stations.
The three provinces will start work early in 2020 on the development of a strategic plan for deployment of SMRs including market opportunities in Canada and around the world.
About Moltex Energy: Moltex Energy is a privately held company striving to solve the world’s most critical challenge, providing safe, clean and affordable energy. The company has headquarters in the United Kingdom and New Brunswick and collaborates with other innovators and nuclear energy experts worldwide. The mission is to cost-effectively produce carbon-free electricity so that fossil fuels can stay in the ground.
Moltex Energy is one of two companies that NB Power has selected to explore building Small Modular Reactors (SMRs) in New Brunswick. Moltex has developed a first-of-its-kind technology to build a better nuclear reactor that will safely, cleanly and economically solve global energy issues and power the planet in the 21st century. The workforce, along with the existing nuclear generating station and a supportive government, make New Brunswick an ideal location to build this technology