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SAINT JOHN, NB, April 18, 2023 /24-7PressRelease/ -- ARC Clean Technology, Inc. (ARC) is pleased to announce that it has been included in a memorandum of understanding (MOU) signed yesterday between the province of Saskatchewan and the province of New Brunswick to enhance collaboration on the development and deployment of small modular reactors (SMRs).
The agreement recognizes that the ARC-100, the advanced small modular reactor (aSMR) from ARC, is a potential technological solution to advance industrial decarbonization in Saskatchewan.
"The ARC Clean Technology team continues to make exceptional progress," said New Brunswick Minister of Natural Resources and Energy Development Mike Holland. "We look forward to the deployment of the first unit at the Point Lepreau Generating Station and are pleased the Province of Saskatchewan also sees the potential for this technology."
Yesterday's announcement is further testament to growing support from multiple markets that aSMR technology, like the ARC-100, is vital to the path to net zero for heavy industry. Last month, ARC and Invest Alberta announced that they will jointly pursue commercialization of the ARC technology in support of emissions reductions plans for the province of Alberta. In December 2022, the Port of Belledune in New Brunswick announced that it will pursue ARC technology as an energy source for expanded hydrogen production and other industries based at the Port.
"We've identified several industrial processes that can leverage the ARC-100 and over recent months our team has been responding to strong interest from business, government, and regulators," said Bill Labbe, President and CEO of ARC Clean Technology Canada, Inc. "ARC is extremely pleased that the province of Saskatchewan, a global player in the mining industry, recognizes the potential of our technology to support the clean energy transition in that province."
• A global market study by management consultancy Roland Berger released in June 2022, found that the demand for industrial heat is projected to increase over 3.5x by 2050.
• In March 2022, the governments of Saskatchewan, New Brunswick, Ontario and Alberta released A Strategic Plan for the Deployment of Small Modular Reactors, which outlines their strong support of the path forward on SMRs.
• The ARC-100 uses sodium as a coolant and operates at low pressure ensuring inherently safe operations while efficiently producing an exceptional amount of heat or superheated steam, ideal for industrial applications.
About ARC Clean Technology, Inc.
ARC Clean Technology, Inc. (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. Leveraging proven technology from the 30-year performance of its prototype, the ARC-100's simple, modular design provides 100 megawatts of electricity and industrial heat that will be cost competitive with fossil fuels. Important applications include the decarbonization of heavy industry, the fueling of low-carbon hydrogen projects, and the creation of life-saving medical isotopes. The ARC-100 has been selected by New Brunswick Power for implementation on their Point Lepreau site with completion by the end of this decade. ARC has offices in Saint John, New Brunswick and Washington, DC.
For more information, please visit: www.arc-cleantech.com
Director, Corporate Services
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