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SAINT JOHN, NB, September 20, 2022 /24-7PressRelease/ -- ARC Clean Energy, a leading provider of proven, clean energy solutions announces an updated branding and new company name of ARC Clean Technology to reflect an expanding market for its innovative technology.
ARC's new global website is www.arc-cleantech.com
ARC's USA company has changed its name to ARC Clean Technology, Inc. (formerly ARC Clean Energy, Inc.) and its subsidiary, ARC Clean Energy Canada Inc, has changed its name to ARC Clean Technology Canada Inc.
"ARC was created in 2006 based on a vision of clean energy for a sustainable future," says ARC Chairman and Founder, Donald Wolf. "Today more than ever, the world appreciates the urgency and importance of our work."
According to a global market study by management consultancy Roland Berger released in June 2022, advanced small modular reactors (aSMRs) may contribute 353 GW of additional global energy production by the year 2050. ARC's market potential has been accelerated by this growing focus on clean technology innovation.
In 2020, ARC received USD27.5 million in Department of Energy grant funding for the development of innovative clean energy SMR technology. In 2021, ARC was awarded CAD20 million in funding for technology development from the Province of New Brunswick. In early 2022, ARC closed a Series A funding round from private investors.
"Market interest in the ARC technology continues to grow beyond its major function of creating clean, low-cost energy. We are now developing additional applications such as the decarbonization of heavy industry, powering low-carbon hydrogen projects, and the creation of medical isotopes," says William Labbe, President & CEO of ARC Clean Technology Canada.
"Our new brand resonates with the strength of our technology and the breadth of its applications."
About ARC Clean Technology
ARC is a clean energy technology company developing the ARC-100, an advanced small modular reactor (aSMR) offering inherently safe, reliable, and economical carbon free power. ARC has offices in Washington DC and Saint John, New Brunswick.
Leveraging proven technology from the 30-year performance of its prototype, the ARC-100's simple, modular design provides 100 megawatts of electricity that is cost competitive with fossil fuels and provides reliable and abundant energy to complement intermittent renewables.
Important additional applications include the decarbonization of heavy industry, the fueling of low-carbon hydrogen projects, and the creation of valuable medical isotopes.
The ARC-100 has been selected by New Brunswick Power for implementation on their Point Lepreau site with completion targeted for the late 2020s, which will make it the first grid-scale Generation IV advanced SMR deployed in Canada.
More information on ARC Clean Technology is available online at www.arc-cleantech.com
Director, Corporate Services
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