Moltex Energy and the NSMDC have agreed to work collaboratively in the development and implementation of low carbon energy solutions in New Brunswick focusing on Moltex’s suite of technologies.
NSMDC CEO Chief George H. Ginnish representing the board of Directors, and General Manager Jim Ward have said that, “Moltex Energy shares values that are important to First Nations.” “We are both committed to fighting climate change and believe strongly in employment and economic opportunities for First Nations in New Brunswick.”
“Most importantly Moltex Energy recognizes the importance of involving First Nations early in the process and this builds mutual respect and trust,” they said.
“We are committed to New Brunswick and establishing a long lasting presence so this is a logical partnership for us,” said Moltex Energy North American CEO Rory O’Sullivan, “Moltex is committed to developing safe, clean and affordable energy and First Nations have a right to avail of this opportunity especially given the early stage of development where training and economic opportunities can be maximized.”
“With this partnership we are both committed to working together and ensuring First Nation communities have the opportunity for early involvement as well as First Nations supporting the development of climate change mitigating solutions for Canada.” said Mr. O’Sullivan.
NSMDC, representing the seven First Nation communities of Bouctouche, Eel Ground, Eel River Bar, Fort Folly, Indian Island, Metepenagiag and Pabineau, has great interest in Moltex Energy’s breakthrough science as it uses spent fuel from existing nuclear reactors and converts it to clean energy. Moltex processes existing spent fuel pellets to create a new liquid fuel for its reactors. This fuel is then burnt in the Stable Salt Reactor (Wasteburner) which Moltex Energy is working to build at the Point Lepreau Nuclear Generating Station in New Brunswick. The Nuclear Waste Management Organization is planning a deep geological repository for all of Canada’s used nuclear fuel which would take existing used CANDU fuel and used fuel from any Small Modular Reactor.
The Stable Salt Reactor (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.
Both NSMDC and Moltex Energy are seeking financial support from the Government of Canada to accelerate the development and commercialization of this technology and enable the New Brunswick First Nations to maximise job prospects, have an equity stake in the business and profit from future reactor sales.