Meeting
SAINT JOHN, N.B. – New Brunswick Power (NB Power), Moltex Energy, and Advanced Reactor Concepts, the parent company of ARC Nuclear Canada Inc. (ARC Canada), are pleased to announce that they have signed a Memorandum of Understanding (MOU) to work collaboratively together to find synergies by establishing a small modular reactor vendor cluster in New Brunswick. The MOU establishes plans to pursue collaboration in areas such as supply chain development activities, shared technology education and trades initiative, and common research and development activities.

Since 2018, NB Power has been working with ARC Canada and Moltex Energy to advance stream 2 of the Pan-Canadian small modular reactor (SMR) approach. Stream 2 is Generation IV Grid sized SMR technology. The advanced SMRs are being developed for use in Canada and internationally. The parties are working towards establishing New Brunswick as the hub for supply chain and technical support. Both of these companies are developing complementary technologies and each of their designs offers passive, inherent safety features with both reactors, in different ways, contributing to addressing used nuclear fuel.

Small modular reactors are the next generation of nuclear technology. The various designs can range from an output of between one and 300 megawatts, with a variety of end applications, the units can be constructed and shipped to locations where they are assembled on site. Much smaller than traditional nuclear power plants, SMRs are less expensive to mass produce and easier to deploy. Their modular design allows for deployment in large established grids, small grids, remote off-grid communities and as an energy source for resource projects. SMRs provide a source of safe, clean, affordable energy, with the ability to contribute towards a resilient, low-carbon future.

New Brunswick is positioned to advance small modular reactor technology because of its rich academic and scientific community, an existing nuclear site that can accommodate multiple SMRs and the nuclear expertise of the professionals at the Point Lepreau Nuclear Generating Station.


QUOTES

“NB Power welcomes the opportunity to collaborate with ARC Canada and Moltex together as we develop the small modular reactor technology and supply chain network in New Brunswick,” said Keith Cronkhite, NB Power President and CEO. “As we continue our work to address climate change and reduce our carbon footprint, it is imperative that NB Power shows leadership and works with industry partners to find new sources of energy for our future needs. We believe nuclear energy in the form of small modular reactors is essential to achieving net zero by 2050.”

“Moltex welcomes this MOU, which formalizes and strengthens the existing relationship between Moltex, NB Power and ARC Nuclear," said Rory O’Sullivan, Chief Executive Officer, North America, Moltex Energy. "We look forward to continuing to seek opportunities to collaborate in the interest of advancing the nuclear industry in New Brunswick. We are committed to developing solutions to fight climate change, spur economic development, and improve the lives of New Brunswickers.”

“ARC Canada looks forward to collaborating with Moltex as each company develops its advanced SMR technology for deployment in the Province of New Brunswick”, said Don Wolf, Chairman of the Board of ARC Canada. “We are certain that nuclear energy has a critical role to play in the creation of a future energy system that provides affordable, clean energy, 24/7 and integrates with renewable energy systems”. We look forward to demonstrating with NB Power the advantages of our new nuclear technologies and the potential economic benefits they can bring to New Brunswick.”

“New Brunswick has an opportunity to become a world leader in small modular nuclear reactor research, development and manufacturing,” said Natural Resources and Energy Development Minister Mike Holland. “We believe that New Brunswick can be the place where technology is developed that will put our province on the map as a global emissions reduction leader and it is great to see the collaborative approach between NB Power, ARC Canada and Moltex.”

ABOUT NB POWER
NB Power is the primary electric utility in New Brunswick and this year marks its 100th anniversary. It serves more than 400,000 customers with safe, reliable and efficient electricity, and has the lowest residential rates in Atlantic Canada. The utility, which has 14 generating stations ranging from thermal generation, to hydro to nuclear wind and other renewables, is focused on promoting the efficient use of energy in customers’ homes and businesses by enabling and providing new, value-added energy efficient solutions in order to help reduce carbon, better integrate renewable energy and stimulate the economy. During this past year, New Brunswick customers benefited from 80 per cent non-emitting electricity.

ABOUT ARC CANADA
ARC Canada’s mission is to commercialize the ARC-100 technology, an advanced small modular reactor (SMR) that provides safe, reliable, economically competitive and carbon-free energy with a viable solution to used fuel. ARC Canada has established its Head Office in Saint John, New Brunswick with a goal of promoting business and economic development within the Province of New Brunswick.
New Brunswick provides the key success elements for the development of the ARC-100 technology in Canada: a strong nuclear background, an experienced and effective nuclear operator, a flexible and highly competent work force and academia that can support development and innovation. ARC Canada envisions creation of a supply chain delivering economic growth, well-paying supply chain jobs and the opportunity for New Brunswick to take the lead in the advanced small modular reactor technology field.

ABOUT MOLTEX
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.
Ten economic development, business, and community development organizations from across New Brunswick will present a virtual conference and podcast series designed to reimagine New Brunswick in a post-pandemic world.

Imagine a Better, Stronger New Brunswick...

How Might NBBC & Other N.B. Leaders Help with Provincial Recovery?

NBBC CEO, Adrienne O'Pray, recently listened to Tom Rand, a Canadian climate change expert, author and green entrepreneur, speak at Mount Allison University.

Join us to create an action plan to increase regional economic development in Northern New Brunswick!

The New Brunswick Business Council is pleased to be part of the advisory committee for iHUB Learning Inc., an innovation hub and not-for-profit organization in the province.

As a leader, why do you think there’s value in being a member of NBBC, given its role in building a better New Brunswick?

I get so much out of being a member of the NB Business Council. I’m surrounded by some of the brightest minds in the New Brunswick business community. There are so many local businesses doing great things, especially the family businesses that want to remain in the province—not just sell their company and move on. It’s inspiring to see companies like McCain Foods and Cooke Aquaculture prove that you can be successful here at home.

As a leader, why do you think there’s value in being a member of NBBC, given its role in building a better New Brunswick?

I was lucky enough to be appointed to NBBC by the Wallace McCain Institute. I raised my hand to be a NBBC member because I think it’s important for business leaders in the province to speak in a unified voice. We can have more meaningful impact as a group than if we were to work separately. It’s as much about teamwork as it is about leadership.

Quebec's slow pace on twinning a small section of the Trans-Canada Highway near the New Brunswick border is costing Canada close to $2 billion a year in lost economic activity, say business leaders.

Mike Wilson's shining moment came when he attended ceremonies in the United Arab Emirates this past March to celebrate a Guinness World Records achievement. The CEO of Atlantic Industries Limited, whose headquarters are in Sackville in southeastern New Brunswick, had provided the technology for the world's largest metal-buried bridge, with a span of more than 32 metres.

As a leader, why do you think there’s value in being a member of NBBC, given its role in building a better New Brunswick?

I’ve been a member of the New Brunswick Business Council for over five years simply because there’s tremendous value in being actively involved in the provincial business community. I accepted the role as chairman in 2018. There’s so much brilliance in that group.

It’s no secret that New Brunswick’s labour force is shrinking. Baby boomers are retiring and younger workers are moving to other provinces, leaving many companies in the province scrambling to find enough qualified employees.