SAINT JOHN, NB, Sept. 25, 2023 /CNW/ – North Shore Mi’kmaq Tribal Council (NSMTC) and its seven First Nation member communities are thrilled to announce that they’ve signed fairness agreements with Moltex Vitality Canada Inc. (Moltex) and ARC Clear Know-how Canada, Inc. (ARC).
These first-of-a-kind agreements within the discipline of small modular reactor (SMR) expertise will allow NSMTC and its member communities (Oinpegitjoig, Ugpi’Ganjig, Natoaganeg, L’nui Menikuk, Tjipogtotjg, Metepenagiag, Amlamgog) to share in Moltex and ARC’s success in creating and deploying superior nuclear expertise in New Brunswick and all over the world.
NSMTC and its member communities are making monetary investments in each Moltex and ARC, through separate agreements, that end in them receiving $2 million in share worth from Moltex and $1 million in share worth from ARC. Whereas particulars are confidential, each offers have been structured in recognition of the important thing position First Nations play in New Brunswick’s power future. The variety of shares acquired will rely on future firm valuations on the shut of later funding rounds.
Since establishing their companies in New Brunswick, ARC and Moltex have prioritized partaking with and together with First Nation communities. Past providing fairness possession alternatives, the businesses are devoted to creating further avenues for the development and prosperity of First Nation individuals in New Brunswick, together with alternatives in coaching, employment, procurement, and enterprise improvement.
With the assistance of Saa Dene, an organization targeted on Indigenous inclusion by means of financial and social participation within the world economic system, NSMTC performed thorough due diligence to make sure that Moltex and ARC’s applied sciences and values harmonized with Indigenous teachings of honouring and respecting the Earth and its sources.
The agreements precede ARC and Moltex’s participation and sponsorship of the Indigenous-Led Vitality Symposium, an NSMTC-organized occasion happening October 24-26 in Moncton. The symposium will carry collectively leaders from First Nation communities, utilities, authorities, and trade for 2 days of dialog and collaboration concerning alternatives for Indigenous participation within the New Brunswick power sector.
Particulars of the fairness agreements have been introduced on the Saint John Arts Centre at a information convention attended by Indigenous leaders, authorities representatives, trade companions, and the media.
“Ukjit ula’tinew msit No’kmaq (for the betterment of our individuals). The North Shore Mi’kmaq Tribal Council (NSMTC) was shaped in 1987 to serve the communities of Oinpegitjoig (Pabineau), Ugpi’Ganjig (Eel River Bar), Natoaganeg (Eel Floor), L’nui Menikuk (Indian Island), Tjipogtotjg (Buctouche), Metepenagiag (Pink Financial institution), and Amlamgog (Fort Folly) First Nations. NSMTC’s mission is to supply service supply for its communities’ pursuits and well-being whereas preserving their cultural heritage and conventional lifestyle. NSMTC’s priorities embody land and useful resource administration, financial improvement and job creation, well being and social companies, schooling and language preservation and cultural and group occasions. NSMTC works collaboratively with its group members, different Indigenous organizations, and authorities companies to handle points and alternatives that have an effect on its communities. It’s dedicated to transparency, accountability, and significant engagement with its group members.
Moltex Vitality Canada Inc. (Moltex) is a Canadian IP firm and nuclear expertise chief that has caught the eye of governments, utilities and traders worldwide. It’s creating three distinctive applied sciences: a Secure Salt Reactor – Wasteburner (SSR-W) that makes use of recycled nuclear waste as gasoline; a WAste To Secure Salt (WATSS) course of for recycling nuclear waste to provide SSR-W gasoline; and GridReserve thermal power storage tanks, enabling the SSR-W to behave as a peaking plant. Moltex was chosen by NB Energy to progress improvement of its reactor expertise in New Brunswick, Canada, with the aim of deploying first-of-a-kind SSR-W, WATSS and GridReserve items on the Level Lepreau web site.
ARC Clear Know-how Canada, Inc. (ARC) is a clear power expertise firm creating the ARC-100, a sophisticated small modular reactor (aSMR) providing inherently protected, dependable, and economical carbon free energy. Leveraging confirmed expertise from the 30-year efficiency of its prototype, the ARC-100’s easy, modular design supplies 100 megawatts of electrical energy and industrial warmth that will probably be price aggressive with fossil fuels. Vital functions embody the decarbonization of heavy trade, the fueling of low-carbon hydrogen initiatives, and the creation of life-saving medical isotopes. The ARC-100 has been chosen by New Brunswick Energy for implementation on their Level Lepreau web site with completion by the tip of this decade. This may make it the primary grid-scale Era IV aSMR deployed in Canada. ARC Clear Know-how Canada, Inc. has places of work in Saint John, New Brunswick and is a subsidiary of ARC Clear Know-how Inc. primarily based in Washington, DC.
SOURCE Moltex Vitality
For additional data: Media contacts: Julie Guillemet, North Shore Mi’kmaq Tribal Council, ; Aleisha Bosch, Moltex, ; Sandra Donnelly, ARC Clear Know-how, ; Jauvonne Kitto, Saa Dene,
