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"I am very pleased to hear that the government of New Brunswick supports our vision to bring our technology to market," said ARC Canada, President & CEO, Norman JD Sawyer.
SAINT JOHN, NB, December 10, 2019 /24-7PressRelease/ -- Excellent progress by ARC Nuclear Canada, Inc. (ARC Canada) continues in the Province of New Brunswick to bring its small modular reactor (SMR) technology to market. On Monday, December 9th, at the ARC Canada offices in the Brunswick Square Tower, the Hon. Mike Holland, Minister of Energy in a delivered speech to a large crowd, affirmed the ultimate build of ARC Canada's technology at the Point Lepreau Generating Station (PLGS) due to the significant advancement made by the company.
ARC Canada, President & CEO, Norman JD Sawyer, hosted the event and stated, "I am very pleased to hear that the government of New Brunswick supports our vision to bring our technology to market," says the native New Brunswicker, "after our recent successful completion of phase 1 of the Canadian Nuclear Safety Commission's (CNSC) Vendor Design Review (VDR), we are now moving into the next phase which includes expansion of our organization and future technology design progression. We are now working with the CNSC to plan the start of the next round of reviews."
ARC Canada, with a vision of building a local, sustainable supply chain, has obtained private investment to develop its proven technology. To date, the company has procured three dollars of private investment for every dollar of the initial provincial government funding, highlighting the ongoing private interest in ARC Canada. "Supporting a proven technology, that is centered around economic growth through a sustainable New Brunswick based supply chain should be considered a significant opportunity for this province's future." Mr. Sawyer again stated, "But let me clear, our next phase does not require provincial funding, it is dependant on approval of the Federal Strategic Innovation Fund (SIF) like many other technology companies or industries in this Nation. With the solid groundwork that has been laid by ARC Canada, New Brunswick deserves an opportunity like any other province in Canada."
With more than 37 years of combined nuclear power industry experience in Canada, Mr. Sawyer has been involved in both the operation of commercial nuclear power plants and in the regulation of the Canadian nuclear power industry. In addition to operational experience Mr. Sawyer worked for 10 years at the Canadian Nuclear Safety Commission, the regulatory body for the Canadian nuclear industry.
About ARC Nuclear Canada, Inc.
ARC Canada's mission is to commercialize the ARC-100 technology, an advanced small modular reactor (SMR) that provides safe, reliable, economically competitive and carbon-free energy with a viable solution to used fuel. ARC Canada has established its Head Office in Saint John, New Brunswick with a goal of promoting business and economic development within the Province of New Brunswick.
New Brunswick provides the key success elements for the development of the ARC-100 technology in Canada: a strong nuclear background, an experienced and effective nuclear operator, a flexible and highly competent work force and academia that can support development and innovation. ARC Canada envisions creation of a supply chain delivering economic growth, well-paying supply chain jobs and the opportunity for New Brunswick to take the lead in the advanced small modular reactor technology field.
More Information on ARC Nuclear Canada, Inc. is available online at www.arcnuclear.com
ARC MEDIA CONTACT:
Carol Lynn Landry [email protected]
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