ARC Clean Technology receives $7M funding award from Government of Canada for small modular reactor
Summary
SAINT JOHN, NB, October 26, 2023 /24-7PressLaunch/ ARC Clean Technology, Canada (ARC) is happy to announce it has acquired a funding award of $7M from the Government of Canadas Electricity Predevelopment Program to advance actions that assist the long run growth of a fleet of ARC- 100 small modular reactors (SMRs), starting with the siting and deployment of a industrial demonstration unit on the Point Lepreau Nuclear Generating Station in New Brunswick.The ARC-100 is a sophisticated small modular reactor designed to generate 100 MW of unpolluted power for a variety {of electrical} grid and industrial functions.The announcement was made in Ottawa by the Honorable Jonathan Wilkinson, Minister of Energy and Natural Resources, for instance of funding that can additional the goals of a Joint Policy Statement, launched that very same day, on creating and transmitting clear, dependable, and inexpensive energy in Nova Scotia and New Brunswick.The Government of Canada is helping to bring clean, reliable and affordable power to every region in Canada, very much including New Brunswick. Wayne Long, Member of Parliament, Saint John-Rothesay, New BrunswickThis announcement is validation of the progress we are making in New Brunswick and builds upon recent milestones including NB Powers license to prepare site application and environmental assessment registration for the ARC-100 unit at Point Lepreau Nuclear Generating Station, and the equity agreement with North Shore Mikmaq Tribal Council and its seven member communities. According to a world market research by administration consultancy Roland Berger launched in June 2022, superior small modular reactors (aSMRs) might contribute 353 GW of further international electrical energy manufacturing by the yr 2050 with substantial further demand for industrial course of warmth. As a sodium cooled quick reactor, the technical readiness of the ARC-100 is additional superior than different superior SMR applied sciences and advantages from over 400 years of mixed working expertise in numerous deployments world wide.MEDIA CONTACT FOR Natural Resources Canada: Carolyn Svonkin Press Secretary Office of the Minister of Energy and Natural Resources 343-597-1725 [email protected]ARC Clean Technology Canada, Inc. (ARC) is a clear power expertise firm creating the ARC-100, a sophisticated small modular reactor (aSMR) providing inherently secure, dependable, and economical carbon free energy. Leveraging confirmed expertise from the 30-year efficiency of its prototype, the ARC-100s easy, modular design gives 100 megawatts of electrical energy and industrial warmth that will likely be value aggressive with fossil fuels.