Moltex receives $50.5M to develop small modular reactor

Saint John, NB-based Moltex Energy receive $50.5 million from the Government of Canada’s Strategic Innovation Fund (SIF) and Atlantic Canada Opportunities Agency (ACOA) to help the company design and commercialize a molten salt reactor and spent fuel recycling facility.

The company says it plans to build the world’s first 300 MW Stable Salt Reactor – Wasteburner (SSR-W) and WAste To Stable Salt (WATSS) facility at the Point Lepreau Generating Station site in Saint John, New Brunswick. According to Moltex, the reactor could come only by the early 2030s.

“The future of energy in Atlantic Canada is carbon-free. Today’s investment to develop innovative SMR technology in New Brunswick will support the deployment of the Atlantic Loop, help us build a more resilient economy and bring us one step closer to our climate goal of net-zero emissions by 2050,” said the Honourable Dominic LeBlanc, President of the Queen’s Privy Council for Canada and Minister of Intergovernmental Affairs.

In addition to Moltex, ACOA provided $4,999,568 to NB Power and $561,750 to the University of New Brunswick to strengthen the small modular reactor (SMR) cluster in New Brunswick.
www.moltexenergy.com