Ottawa invests $50.5-million in Moltex Energy to develop nuclear reactor technology

[Peggy Cameron]

$50.5m for developing new nuke-power. Moltex Energy Canada hopes to be providing power to the grid by the early 2030s. And create 48 full-time jobs. The article doesn’t mention that Stephen Harper sold Canada’s nuclear crown corp-Atomic Energy of Canada Ltd (AECL) for (please remain seated) for $15 million to (and don’t fall over) SNCLavilin. 

Ottawa invests $50.5-million in Moltex Energy to develop nuclear reactor technology

https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-ottawa-invests-505-million-in-moltex-energy-to-develop-nuclear-reactor/
 

SAINT JOHN, N.B.

The Canadian Press

Published 15 hours ago Updated March 18, 2021

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Ottawa is investing $50.5-million in Moltex Energy Canada Inc. to help in the development of the company’s stable salt nuclear reactor and spent fuel recycling technology.

The money includes $47.5-million from the Strategic Innovation Fund and $3-million from the Regional Economic Growth through Innovation program.

As part of the SIF investment, the company has committed to creating and maintaining 48 full-time jobs.

Moltex wants to build a stable salt reactor that uses a process that recycles existing used nuclear fuel at the Point Lepreau Generating Station site in Saint John and hopes to be providing power to the grid by the early 2030s.

The stable salt reactor and spent fuel recycling technology has the potential to reduce storage needs for existing used nuclear fuel.

Ottawa also announced $5-million to help NB Power Corp. prepare the Point Lepreau site and $561,750 to help the University of New Brunswick’s Centre for Nuclear Energy Research.