Le Lézard
Classified in: Oil industry, Environment, Science and technology, Business
Subjects: ENI, ENP, SRI, CFG, ESG

Government of Canada invests in small modular reactor technology to help transition Canada to net zero with cleaner sources of energy


This investment will help create a greener future and support good middle-class jobs

BURLINGTON, ON, March 17, 2022 /CNW/ - Innovation, Science and Economic Development Canada

Canada is a leader in nuclear energy and nuclear safety and has one of the world's most promising domestic markets for the safe and responsible development of small modular reactor (SMR) technology. SMRs have the potential to provide strong economic benefits to the Canadian economy and support Canada's efforts to achieve net-zero greenhouse gas emissions by 2050.

The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced an investment of $27.2 million in Westinghouse Electric Canada Inc. to support its $57 million project so its next-generation SMR, the eVinci micro-reactor, can be successfully licensed in Canada. This technology has the potential to provide a more accessible and transportable source of low-carbon energy.

By investing in this project, the Government of Canada is supporting innovation that will help communities that rely on heavy-polluting diesel fuel to transition to a cleaner source of energy, while creating and maintaining more than 200 well-paying and full-time jobs in Canada's energy sector.

Westinghouse Electric Canada's project supports the government's Innovation and Skills Plan by helping build a highly skilled workforce and advancing research in new foundational technology?a key component for future economic growth and innovation. It also supports Canada's SMR Action Plan, which outlines a long-term vision for the development and deployment of this technology in Canada and worldwide.

Quotes

"As our government moves swiftly with our green economic recovery, we are laying the foundation for a better and more prosperous climate-oriented future. Westinghouse's innovative technology will help deliver cleaner energy sources across Canada, especially in remote communities. This investment will play a critical role in fighting climate change, building on Canada's global leadership in SMRs and securing jobs in Ontario's energy sector."
? The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

"Canada must rapidly develop and deploy low-carbon energy technologies in order to meet our environmental and economic objectives. Small modular reactors provide an opportunity to generate non-emitting energy for communities while attracting investments in Canadian businesses and creating jobs for Canadian workers."
? The Honourable Jonathan Wilkinson, Minister of Natural Resources

"Today's announcement at Westinghouse Electric Canada is great news for Burlington. It is great news for our environment and for our economy. The Government of Canada will continue to invest in innovative climate solutions like SMRs to foster a sustainable economy that works for everyone." 
?The Honourable Karina Gould, Minister of Families, Children and Social Development and Member of Parliament for Burlington

"ISED's Strategic Innovation Fund was created to inspire and drive innovation by providing federal funding for large projects designed to improve Canada's innovation performance while also providing economic and environmental benefits to all Canadians. Westinghouse's small modular reactor technology could result in a transportable source of clean energy to serve rural and remote communities reliant on diesel. Canada is a global leader in nuclear safety and nuclear energy, a zero-emission clean energy source. Our government is committed to supporting innovators like Westinghouse develop and deliver next-generation solutions to global challenges like climate change to ensure Canada achieves its target of net-zero emissions by 2050."
? Pam Damoff, Member of Parliament for Oakville North?Burlington

"Westinghouse is proud to be advancing Canada's net-zero 2050 goals with our eVinci micro-reactor technology. Our innovative battery technology will bring safe, carbon-free and transportable energy to industries and communities all across Canada. With Innovation, Science and Economic Development Canada's investment, we will be supporting Canada's SMR Action Plan while creating permanent jobs and leveraging Canada's world-class supply chain and academic institutions."
? Eddie Saab, President, Westinghouse Electric Canada

Quick facts

Associated links

Stay connected

Find more services and information at Canada.ca/ISED.

Follow Innovation, Science and Economic Development Canada on social media.
Twitter: @ISED_CA, Facebook: Canadian Innovation, Instagram: @cdninnovation and LinkedIn

SOURCE Innovation, Science and Economic Development Canada


These press releases may also interest you

at 05:05
Anaergia Inc. ("Anaergia" or the "Company") will release its financial results for the second quarter of 2022, and as previously disclosed, it will also file its restated annual financial statements for the periods ended December 31, 2021, and 2020,...

13 aoû 2022
The Prime Minister, Justin Trudeau, today announced that the Chancellor of Germany, Olaf Scholz, will visit Montréal, Quebec, Toronto, Ontario, and Stephenville, Newfoundland and Labrador, from August 21 to 23, 2022. Prime Minister Trudeau will meet...

12 aoû 2022
Silfab Solar, North America's leading provider of high-efficiency and durable PV solar modules, applauds the Biden administration and U.S Congress for enacting the Inflation Reduction Act, along with passage of the Solar Energy Manufacturing in...

12 aoû 2022
The Walton Family Foundation today lauded House passage of the largest climate change investment in U.S. history through the Inflation Reduction Act, which President Biden is expected to quickly sign...

12 aoû 2022
On August 12, 2022 Congress passed the Inflation Reduction Act of 2022, which will now be sent to President Biden to be signed into law. The Inflation Reduction Act will create a new clean hydrogen production tax credit, an incentive that is critical...

12 aoû 2022
The Carbon Utilization Research Council's (CURC) Executive Director Shannon Angielski provided the following statement on the Inflation Reduction Act of 2022: "The Carbon Utilization Research Council (CURC) applauds the passage of the Inflation...



News published on 17 march 2022 at 11:35 and distributed by: