Fredericton, New Brunswick (Friday, February 10, 2023) – New Brunswick Premier Blaine Higgs has recognized the leading role Moltex Energy Canada Inc. (Moltex) is playing in clean energy innovation through development of their advanced small modular reactor, and the benefits this will bring to the province, in his State of the Province address.
“By supporting both ARC and Moltex, our government is positioning New Brunswick as a leader in development of new nuclear,” said Higgs. “This is not your grandparents’ nuclear. It’s modular, safer, scalable, and carbon-free.”
The address, which took place last night in Fredericton to a sold-out crowd, highlighted recent successes and offered insights to the province’s future direction and outlook. The event was broadcasted live across New Brunswick.
“Generations of New Brunswickers stand to benefit significantly from Moltex’s technologies,” said Minister of Natural Resources and Energy Development Mike Holland. “In addition to the essential role advanced small modular reactors will play in providing carbon-free, reliable energy, they are also expected to bring substantial economic benefits to our province.”
Between 2020-2035, development of advanced small modular reactors in New Brunswick is projected to create more than 1000 direct and indirect jobs, $1 billion in GDP, and $120 million in provincial government revenue.
“We are fortunate to benefit from a province that is very supportive of nuclear energy,” said Rory O’Sullivan, CEO, Moltex. “We know there is strong interest in our technologies and the opportunities they bring from provincial leaders and from the public. Our inclusion in this year’s State of the Province address indicates that nuclear development remains a key priority for New Brunswick.”
Moltex established Saint John as the head of its North American operations in 2018, and is developing a first-of-a-kind small modular reactor fuelled by recycled nuclear waste to be located at the Point Lepreau site. Once operational in the 2030s, Moltex’s technologies will provide clean, reliable energy to thousands of New Brunswickers, and will further underline New Brunswick’s position as a Canadian nuclear leader.
Moltex is a nuclear technology leader that has caught the attention of governments, utilities and investors worldwide. It is developing three unique technologies: a Stable Salt Reactor – Wasteburner (SSR-W) that uses recycled nuclear waste as fuel; a WAste To Stable Salt (WATSS) process for recycling nuclear waste to produce SSR-W fuel; and GridReserve thermal energy storage tanks, enabling the SSR-W to act as a peaking plant. Moltex was selected by NB Power to progress development of its reactor technology in New Brunswick, Canada, with the goal of deploying first-of-a-kind SSR-W, WATSS and GridReserve units at the Point Lepreau site.