Bruce Power and Saskatchewan-base Cameco are teaming up on the Nuclear Innovation Institute's new centre for next generation nuclear technologies.
Premier Doug Ford joined his counterpart from Saskatchewan, Premier Scott Moe, and officials from Bruce Power and Cameco for today's virtual announcement.
The new centre will look at the development of things like small modular reactors (SMRs) to service remote communities ; a hybrid hydrogen-nuclear economy to fight climate change; and support the development and production of medical isotopes.
"This is really exciting stuff," said Ford during the virtual announcement. "And this is going to boost the interprovincial research agreement, helping us to make leaps and bounds in the development of future nuclear technologies."
Bruce Power already produces enough Cobalt-60 to sterilize 40 per cent of the world's single use medical equipment and will continue work on producing lutetium-177, used in fighting prostate cancer, neuroendocrine tumours, and bone metastases.
The province's associate Minister of Energy and MPP for Bruce-Grey-Owen Sound also took part in today's announcement.
"I'm really, really excited about the isotopes, the SMR's, that next generation technology that today's announcement is going to foster and allow us to continue to move toward," said Walker.
MPP for Huron-Bruce, Lisa Thompson congratulated both companies on their new partnership
"From new nuclear reactor technologies such as SMRs, small modular reactors, through to embracing a hydrogen economy alongside nuclear, through to increased output," said Thompson, "I really look forward to seeing what is going to evolve from the institute."
Bruce Power says the new centre will advance the existing expertise of suppliers, regulators and operators, supporting economic, environmental, and export opportunities.
"Today's announcement, along with the existing long-term arrangements between Bruce Power and Cameco, opens the door to assist the provincial governments in both Saskatchewan and Ontario with getting the economy back on its feet after six difficult months working to protect and keep people safe in both provinces," said Mike Rencheck, President and CEO of Bruce Power. "We are extremely grateful to Premiers Ford and Moe, and the members of their respective governments, for realizing the positive impact that the nuclear industry has on the lives of Canadians."
Saskatchewan-based Cameco is also agreeing to supply 1600 specialized fuel bundles for the safe restart of Bruce Power's Unit 6 when the Major Component Replacement work is done in 2024.