EDMONTON, AB & SAINT JOHN, NB, March 24, 2023 /24-7PressRelease/ -- ARC Clean Technology Canada, Inc. ("ARC"), a leading provider of advanced energy solutions, and Invest Alberta Corporation ("IAC"), a Crown corporation of the Government of Alberta, have signed a Memorandum of Understanding ("MOU") to jointly pursue activities to support commercialization of ARC's advanced Small Modular Reactor ("aSMR") technology, the ARC-100, in the province of Alberta.
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 energy to complement intermittent renewables. Important applications include the decarbonization of heavy industry (including oil sands extraction, chemical production, refining, mining, and water treatment and desalinization), the fueling of low-carbon hydrogen projects, and the creation of valuable medical isotopes.
Alberta is Canada's energy and heavy industry leader, and a natural market for industrial applications of the ARC technology. As the leading producer of hydrogen in Canada, and home to the largest number of energy company head offices, it is clear that Alberta will remain a major energy producer through the transition to a lower-carbon future. The flexibility of the ARC-100 for electricity and industrial heat generation, combined with its small land footprint, make the ARC-100 an ideal carbon-free energy solution for a wide range of locations and applications to support emissions reductions strategies for the province.
Under the terms of the MOU, ARC will begin the process to expand its operations in Alberta with the objective of developing a fleet of ARC-100 reactors. With the support of IAC, ARC will begin engagement and partnership activities with industry and stakeholders. ARC will also develop the associated supply chains and manufacturing, operating and support services necessary for the construction and operation of multiple ARC-100 units.
Alberta is one of four Canadian provinces that have agreed to a joint strategic plan outlining their strong support for the path forward on SMRs. A Strategic Plan for the Deployment of Small Modular Reactors highlights how SMRs can provide safe, reliable, and carbon-free energy and estimates that the development of deployment of SMRs has the potential to create thousands of jobs and billions of dollars of economic benefits.
ARC previously established its first Canadian office in Saint John, New Brunswick, where it has announced plans to deploy the first grid-scale Generation IV aSMR in Canada at the Point Lepreau Nuclear Generating Station by the end of the decade. The Port of Belledune in New Brunswick is also pursuing the ARC technology for deployment in the first industrial application of a Generation IV aSMR in North America, offering a model for industrial decarbonisation.
• The ARC-100 is a Generation IV sodium-cooled fast reactor capable of producing 100 megawatts of electricity and a capacity factor of 95% reliability.
• With a refueling cycle of once every 20 years and 99% fuel utilization, the ARC-100 reduces operational costs and complexity, and fuel waste.
• 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. Advanced small modular reactor (aSMR) technology, like the ARC-100, is vital to the path to net zero for this sector.
"Alberta has been an energy leader for decades, including in energy transition. Alberta can help lead the way in new and exciting ways through green tech. ARC Clean Technology's agreement with Invest Alberta to support the deployment of advanced Small Modular Reactors is an exciting first step towards groundbreaking nuclear energy in Alberta."
- Minister Rajan Sawhney, Trade, Immigration and Multiculturalism
"Meaningful partnerships with leading cleantech innovators like ARC bring impactful net-zero solutions to Alberta. Momentum is building in Alberta around SMR technology, with Invest Alberta signing MOUs with several companies that are on the path to launching proven sustainable energy supplies in the province. The potential deployment of ARC's aSMR technology solution has the potential to bring high-quality jobs and high-impact investment to Alberta, and we look forward to continuing collaborative efforts to support the company's expansion to Alberta."
- Rick Christiaanse, CEO, Invest Alberta
"ARC is extremely pleased to partner with Invest Alberta to bring high quality jobs, significant investment, and economic benefits to the province of Alberta through early deployment of our aSMR technology. With Alberta being Canada's energy and heavy industry leader, it is a natural market for ARC's industrial applications and will be a key stepping stone for the global deployment of Canadian SMR technology."
- William (Bill) Labbe, President and CEO, ARC Clean Technology Canada, Inc.
About ARC Clean Technology Canada, Inc.
ARC Clean Technology Canada, 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.
More information on ARC Clean Technology is available online at https://www.arc-cleantech.com
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