Government supports partnership on small modular reactor development

25 September 2023

SAINT JOHN (GNB) – The provincial government is congratulating the North Shore Mi’kmaq Tribal Council on signing an equity deal with Moltex Energy Canada and ARC Clean Technology Canada.

“I am pleased to see this collaboration and partnership on such an important energy file,” said Natural Resources and Energy Development Minister Mike Holland. “Small modular reactors (SMRs) will help us reduce our carbon emissions and provide reliable energy for New Brunswickers for years to come.”

The council and its member communities are investing in the companies via separate agreements that result in them receiving $2 million in share value from Moltex and $1 million in share value from ARC.

“As Indigenous people, we believe that the decisions we make today should result in a sustainable world seven generations into the future,” said Jim Ward, the council’s general manager. “With this investment, we are building a legacy for our youth, as well as our communities and the environment. We are laying the groundwork for a prosperous future and opportunities that can be passed down for years to come.”

Holland said both ARC and Moltex have prioritized engaging with First Nation communities and are dedicated to creating additional avenues for their advancement and prosperity, such as opportunities in training, employment, procurement and business development.

“We see significant opportunities for SMR development and use, both here in Canada and abroad,” said Holland. “We intend to be a leader in this emerging space, and we are well on our way to seeing New Brunswick become a central hub in the global SMR supply chain, and, in the process, help decarbonize the planet.”

Holland said SMRs have tremendous potential to generate clean and low-cost energy for both on-grid and off-grid communities, helping connect more remote and rural areas of the province, including the mining and manufacturing sectors.

Media Contact(s)

Nick Brown, communications, Department of Natural Resources and Energy Development, nick.brown@gnb.ca.

NT5