Saint John, New Brunswick (Wednesday, April 14, 2021) – Moltex Energy is encouraged by the findings in the Small Modular Reactor (SMR) feasibility report prepared by NB Power, Ontario Power Generation (OPG), Bruce Power and SaskPower for the governments of New Brunswick, Ontario and Saskatchewan.
According to the report, which provides a feasibility assessment of SMR development and deployment in each of the three provinces, Moltex is one of two ‘Stream 2’ companies successfully advancing a design for deployment at the Point Lepreau site in New Brunswick by the early 2030s.
“We are grateful the power companies recognize the significant progress we are making in the design of our reactor, which has the potential to deliver safe, clean, low-cost on-grid power,” said Rory O’Sullivan, Chief Executive Officer, North America, Moltex Energy. “We are working diligently to develop our technology in New Brunswick, with the long-term goal of building fleets across Canada and around the world.”
The report highlights the economic benefits of two advanced reactors in New Brunswick in the next 15 years, including:
- 21,870 person-years of direct and indirect employment;
- a positive impact on GDP (direct and indirect) of $2.15 billion; and
- an increase of government revenue of $198 million.
If Moltex is successful in deploying its technology internationally, these benefits will be considerably greater.
The report also underscores Moltex’s unique ability to recycle and consume spent CANDU fuel as well as its own spent fuel, contributing towards nuclear waste minimization.
“We are the only company with the specifically-designed technology and a plan to recycle Canada’s nuclear waste,” added O’Sullivan. “We have a lot of support from the public and other stakeholders who value reducing waste stockpiles while generating clean energy.”
The full feasibility report is available here.
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 by the early 2030s.