56 million Canadian dollars (45 million US dollars) — so much the Canadian government is willing to invest in the development of small modular reactor technology in New Brunswick. This includes C $ 50.5 million to be invested in Moltex Energy Ltd to develop a 300 MW Stable Salt Reactor-Wasteburner (SSR-W).
Moltex Energy intends to build the SSR-W reactor and the WAste To Stable Salt (WATSS) facility at the Poit-Lepreau site in St. John, New Brunswick. The grid connection is scheduled for the 2030s.
The MDGs could be “the next big opportunity” for Canada to achieve zero emissions by 2050, while creating jobs and economic opportunities, said Dominic LeBlanc, president of the Royal Privy Council of Canada and Minister of Intergovernmental Affairs.
“This investment will help develop and validate SMR technology, secure the establishment of the industry here in New Brunswick, and also establish a first-of-a-kind, world-class clean energy system that can be used in Canada but also around the world,” he said.
The minister also added that the Moltex reactor, which will recycle existing spent nuclear fuel to produce clean energy, could potentially reduce the need for spent fuel storage.
According to Moltex, the entire investment will go to developing SSR-W and WATSS designs and substantiating key assumptions to support the second phase of the supplier’s project analysis prior to licensing by the Canadian Nuclear Safety Commission.
LeBlanc has also announced two tranches: $ 4,999 million to help NB Power prepare the Point-Lepreau site for the deployment of the MMP and 0.6 million to expand the capacity of the University of New Brunswick’s Nuclear Energy Research Center to support the development of MMP technology in the province.
Models of advanced high-speed ARC-100 sodium reactors were also selected for installation in Point Lepreau. And last year, the companies agreed to establish a group of MMP suppliers in New Brunswick.