Saint John, New Brunswick (Friday, December 18, 2020) – Moltex Energy welcomes the release of the Government of Canada’s Small Modular Reactor (SMR) Action Plan, detailing the actions taken by more than 100 Canadian stakeholders to advance SMR technology development and deployment. Moltex also embraces its key role as a Stream 2 SMR vendor focused on innovative methods of reducing nuclear by-products.
“The Action Plan is an important step forward for the nuclear industry,” said Rory O’Sullivan, Chief Executive Officer, North America, Moltex Energy. “It signals the federal government’s commitment to progressing the development of SMRs in Canada, bolstering the clean economy and mitigating climate change.”
The Action Plan chapter by the CEOs of four utilities (SaskPower, Ontario Power Generation, Bruce Power and NB Power) highlights efforts to advance three streams of SMR projects. Moltex is one of two reactors in Stream 2 focused on deploying an advanced SMR in New Brunswick as early as 2030.
Stream 2 reactors bring additional benefits such as increased safety, simple low-cost designs, and the ability to recycle their own spent fuel and reduce current stockpiles of spent CANDU fuel. They also have co-generation capabilities for use with heavy industry and hydrogen production, as well as load-following capabilities to support intermittent renewables.
Moltex’s Action Plan chapter outlines the company’s progress in engaging with key stakeholders, including:
- the Canadian Nuclear Safety Commission through the Vendor Design Review process to identify and resolve barriers to licensing;
- the Nuclear Waste Management Organization to ensure alignment on waste streams and strategies;
- NB Power to ensure Moltex’s design satisfies site and facility requirements;
- First Nations groups to develop trust and identify partnership opportunities; and
- local product and service suppliers to grow Moltex’s supply chain capabilities.
“As a company planning to build SMRs in Canada, Moltex welcomed the opportunity to contribute to the Action Plan,” added O’Sullivan. “It was an opportunity for Moltex to show movement in key areas, and highlight the unique ways in which its technology will benefit Canadians.”
The Action Plan is a follow-up to the 2018 SMR Roadmap, a federal government project to engage with Canadians for the first time on the future of SMRs in Canada.
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.