Federal government invests in small nuclear reactors to help it meet net-zero 2050 target

The federal government says it's investing $20 million in the nuclear industry to help Canada meet its target of net-zero greenhouse gas emissions by 2050.

The investment inOakville Ontario's Terrestrial Energy is meant to help the firm bringsmall modular nuclear reactors to market.

"By helping to bring these small reactors to market, weare supporting significant environmental and economic benefits, including generating energy with reducedemissions, highly skilledjob creation and Canadian intellectual property development," said Innovation MinisterNavdeep Bainsin a mediastatement.

Small modular reactors SMRs are smaller than a conventionalnuclear power plant and can be built in one location before beingtransported andassembled elsewhere.

Atomic Energy of Canada Limited says it sees three major uses for SMRs in Canada:

• Helping utilities replace energy capacity lostto closuresof coal fired power plants.
• Providing power and heat to off-grid industrial projects such as mines and oilsands developments.
• Replacing diesel fuel as a source of energy and heat in remote communities.

The reactor that Terrestrial Energy hopes to have in production by the end of the decade is anIntegral Molten Salt Reactor. The company says the reactorcanprovide additional utility power and power for industrial projects.

The company says that the reactor can produce up to 195 megawatts enough to power acity the size of Regina likelymaking it too powerful for use in remote communities.

Bains said nuclear energy ispart of the energy mix Canadamust haveto reach its climate targets.

Another part of that mix, Bains said, was the recently announced $590 million investment split evenlybetween the Ontario and federal governments to help the Ford Motor Company upgrade its assembly plant in Oakvilleandstart making electric vehicles there.

Recycling nuclear waste

Natural Resources MinisterSeamus O'Regan saidthe federal government is reviewing its radioactive waste program to ensure it adheres to the "highest international standards."

"We do have to make sure that Canadians trust the power system," O'Regan said. "SMR technology allows us to minimize the amount of waste and in some cases has the potential to recycle nuclear waste."

The federal government says thatTerrestrial Energy has committed to creating and maintaining 186 jobs and creating 52 co-op placements nationally.

The government says thecompany also haspromised to undertake gender equity and diversity initiatives to, among other things, boost the number of womenworkingin science, technology, engineering and mathematicsfields.