Saint John, New Brunswick (Friday, February 19, 2021) – Moltex Energy welcomes the report from the Canada-United Kingdom Colloquium detailing how nuclear energy can help mitigate global climate change.
The report, The Nuclear Agenda: Challenges & Opportunities, is a distillation of expert presentations, group discussions and breakout sessions centred around the broad theme of nuclear energy and its role in a climate-challenged world. Canadian and UK experiences in the nuclear sector were compared and contrasted, and policy recommendations, solutions and opportunities for collaboration were identified.
Moltex North America Chief Executive Officer Rory O’Sullivan and Business Development Director Simon Newton participated in the initial discussions and many of their observations are included in the report. As a UK-based company with offices in Canada and the UK, Moltex offers a unique and valuable perspective.
“Canada and the UK have a lot in common when it comes to nuclear experience, capabilities and ambitions,” said O’Sullivan. “We are grateful for bilateral discussions such as these that encourage collaboration and address some of the challenges both countries face in advancing new nuclear technology.”
The report includes a series of high-level recommendations for governments, policymakers, industry and other stakeholders. Several of these recommendations reinforce the need for nuclear waste recycling and minimization technology, such as that being developed by Moltex.
Canada and the UK both have large stockpiles of nuclear waste from decades of nuclear power generation. Moltex is developing simple, low-cost technology to recycle this waste and use it to produce more clean energy. By the time Canada’s CANDU fleet reaches end of life, there will be enough waste to power 6 GW of Moltex reactors.
Moltex also has a reactor variant that consumes uranium instead of nuclear waste. It is gaining traction in locations with no previous nuclear operations.
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.
Director of Communications