MONTREAL: March 28, 2023 – Candu Energy Inc., a member of the SNC-Lavalin Group (TSX: SNC), and New-Brunswick based Moltex Energy’s strategic partnership, launched in 2022, continues to strengthen the global outlook for small modular reactors (SMRs), spent nuclear fuel recycling, and the nuclear energy ecosystem at large by advancing the development and deployment of a first of a kind SMR that uses recycled spent nuclear fuel as its own feedstock fuel source.
“Our partnership with Moltex allows us to advance another important nuclear technology to help reach Canada’s Net Zero ambitions,” said Bill Fox, Executive Vice-President, Canada, Nuclear, SNC-Lavalin. “Moltex’s technologies are of particular interest because of their ability to make use of the spent fuel from Canada’s existing fleet of CANDU nuclear reactors. Recognizing that new nuclear reactors, on top of the existing fleet, will be present in any grid that achieves Net Zero and energy security ambitions, there must be technology available that recycles the used fuel that both current and future reactors will produce. The presence of such technology will make the case for expanding nuclear power production even stronger than it already is.”
Since the inception of the strategic partnership, SNC-Lavalin has supported Moltex with its world-class network of experts in engineering, licensing and regulatory affairs, cost estimating, supplier qualification and management, quality assurance, and construction and operation planning through employees supporting the company indirectly and seconding employees directly into the Moltex organization, including the Project Director of the Waste to Stable Salt (WATSS) nuclear fuel recycling process.
SNC-Lavalin has a minority ownership stake in Moltex. The investment demonstrates the Company’s commitment to support new, innovative, and sustainable technologies that advance Canada’s climate targets. Extensive due diligence on Moltex’s technology and strategy was conducted prior to the establishment of the strategic partnership, as with all SMR technologies SNC-Lavalin supports.
The Moltex SMR has an expected deployment date at New Brunswick’s Point Lepreau nuclear power facility in the early 2030s. Following this inaugural deployment, SNC-Lavalin and Moltex will seek export opportunities to deploy the SMR globally. Deployment of Moltex’s SMR in Canada and overseas will see opportunities for SNC-Lavalin to be involved in plant/facility commissioning, as well as engineering & field services work to support the reactor operator once a plant is commissioned.
“Our partnership with SNC-Lavalin is a testament to the strength and strategic alignment of our organizations, and our shared commitment to a sustainable, secure energy future,” said Rory O’Sullivan, Chief Executive Officer, Moltex. “SNC-Lavalin’s confidence in Moltex as a smart investment choice is clear through their equity stake. Through rigorous due diligence, SNC-Lavalin has recognized the value of our SSR-W and WATSS technologies in combination with CANDU reactors to maximize the value of nuclear fuel and minimize long-lived waste. Together, we are committed to a national and international rollout of this optimal system, which will not only help ensure the social license to operate new nuclear reactors but also pave the way for a cleaner energy economy.”
SNC-Lavalin is uniquely positioned to work with vendors at all stages of SMR development. With over 70 years of global expertise across the entire nuclear lifecycle, access to hundreds of patented solutions, SNC-Lavalin is the only company to have a reactor technology pass all three phases of the Canadian Nuclear Safety Commission’s pre-project design review, and is the original equipment manufacturer of the only currently licensed power-producing reactor technology in Canada.
Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, technology and data to design, deliver and operate the most complex projects. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital – and delivered to clients in key strategic sectors such as Engineering Services, Nuclear, Operations & Maintenance and Capital. News and information are available at snclavalin.com or follow us on LinkedIn and Twitter.
About SNC-Lavalin’s Nuclear Business
SNC-Lavalin has over 70 years’ of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. With an innovative technology portfolio, including access to over 500 patented solutions, SNC-Lavalin solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. SNC-Lavalin operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. SNC-Lavalin is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. SNC-Lavalin is also involved in developing medical radioisotopes for cancer research through its partnership with TerraPower.
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