Saint John, New Brunswick (Monday, September 14, 2020) – Moltex Energy congratulates Premier Blaine Higgs and the Progressive Conservative Party of New Brunswick on their re-election victory.
“We look forward to continuing to work with the Progressive Conservative government and other parties in New Brunswick to advance Moltex’s small modular reactor technology,” said Rory O’Sullivan, Chief Executive Officer, North America, Moltex Energy. “We are grateful for the significant and ongoing political and public support for new clean, reliable and affordable electricity.”
In partnership with NB Power and the Government of New Brunswick, Moltex is developing a 300 MW Stable Salt Reactor – Wasteburner (SSR-W) for siting at the Point Lepreau Generating Station site.
The SSR-W will produce carbon-free electricity by burning used CANDU fuel, significantly reducing New Brunswick’s nuclear waste stockpiles. It will also act as a peaking plant, generating up to 600 MW for short periods of time, enabling the further development of intermittent renewables.
New nuclear technology also promises jobs and economic prosperity. A recent study showed that two new reactors in New Brunswick will contribute over $2 billion to the Canadian Gross Domestic Product and result in nearly $200 million in national government revenues between 2020 and 2035.
And with reactor lifetimes of 60 years, these jobs will last far beyond 2035. The nuclear industry offers young people the prospect of exciting, long-term and well-paid career opportunities.
Director of Communications
Moltex is a privately held company striving to solve the world’s most critical challenge: providing sufficient clean, reliable and affordable energy. In collaboration with innovators and energy experts, the company is developing a small modular reactor that will help keep fossil fuels in the ground. Moltex was selected by NB Power and the Government of New Brunswick to progress development of its reactor technology in New Brunswick, Canada, with the aim of deploying its first reactor at the Point Lepreau site as early as 2030.