Saint John, New Brunswick (Tuesday, June 29, 2021) – Moltex Energy, Pabineau First Nation and Belledune Port Authority (BPA) today signed a Memorandum of Understanding (MOU) to work collaboratively on mutually beneficial initiatives at the Port of Belledune and surrounding areas in Northern New Brunswick, specifically related to Small Modular Reactor (SMR) Canadian domestic use and exports.
“We are pleased to be entering into an MOU with Moltex and BPA to identify and pursue opportunities related to SMRs,” said Chief Terry Richardson, Pabineau First Nation. “Our community is eager to benefit from the jobs and economic prosperity this new industry will bring to the province.”
Pabineau First Nation is one of seven member nations served by the North Shore Micmac District Council (NSMDC). In February 2020, Moltex signed an MOU with NSMDC to work collaboratively on the development and implementation of Moltex’s SMR technology, while identifying and enabling employment and economic opportunities for First Nation communities in New Brunswick.
“Developing partnerships with First Nation communities and other stakeholders in New Brunswick is a top priority for us,” said Rory O’Sullivan, Chief Executive Officer, Moltex Energy. “We recognize the importance of early and frequent engagement, not just to build trust, but so communities can build the necessary capacity to support and benefit from our operations.”
“The BPA looks forward to working with Moltex and Pabineau First Nation to grow the Northern and provincial economy,” said Denis Caron, President & Chief Executive Officer, Belledune Port Authority. “We understand the needs and opportunities associated with energy development and are well-suited to support a range of import and export services.”
Access to a deep-water, all-weather port, such as the one at Belledune, will be essential for exporting components and modules if Moltex is successful in selling reactors around the world.
The MOU will remain in force and effect for one year, and will continue to renew year to year unless terminated by any of the signatories.
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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.
About Pabineau First Nation:
Pabineau First Nation is a progressive Mig’maq community located along the beautiful Nepisiquit river near Bathurst, New Brunswick. The community is governed by Chief Terry Richardson and Councillors Susan Motty, Carolyn Fraser and James Richardson. The community is pursuing a number of new exciting business ventures to add to their existing businesses. The focus of all business activity is on balancing the quadruple bottom line of environmental, economic, cultural and social. Pabineau First Nation believes that partnership is the key to success and is a strong supporter of economic development for the region.
About Belledune Port Authority:
The Port of Belledune, operated by the Belledune Port Authority, is a world-class deep-water facility with four marine terminals, offering exceptional year-round cargo handling capacity. Comprising of ultra-modern facilities and equipment and situated in a strategic location for accessing large North American markets, the Port has continued to grow and evolve over its 50+ year history. Focusing on green projects and clean energy development, the Port is playing an active role in efforts to reduce carbon emissions and paving the way to a more sustainable and clean future.