Canada Small Modular Reactors 2022 Progress
Canada’s 2022 Federal Budget represents a significant shift for the government’s position on the nuclear industry by including specific funding for small modular reactor (SMR) development and deployment, for the support of uranium exploration, and for the nuclear supply chain. This demonstrates commitment to include nuclear technologies in efforts to shift towards a net zero economy and meet ambitious climate plans by 2050.
The 2022 budget proposes USD 96 million to back SMRs, and USD 56 million for Natural Resources Canada to undertake research on waste, support the creation of a fuel supply chain, strengthen international cooperation agreements, and enhance domestic safety practices.
The budget will also broaden the role of the Canada Infrastructure Bank (CIB), which announced a USD 8 billion growth plan in 2020 including a stated goal of helping Canada achieve its emissions reduction targets, allowing the CIB to invest in small modular reactors.
Canada is now in the process of implementation of the SMR Roadmap launched in 2019 and supported by the Federal Government Action Plan announced in 2020. Four provincial governments, Ontario, New Brunswick, Saskatchewan, and Alberta, signed a Memorandum of Understanding for the implementation and commissioned a study which identified three streams to be pursued:
- On-grid SMRs of up to 300 MWe capacity with proven, safe technology, for base load.
- Off-grid Micro Reactors, 5-20 MWe, replacing diesel in remote communities.
- On and off grid 4th Generation technologies SMRs for further deployment.
On Stream #1, the technology vendor was already selected for the first 300 MW SMR project in Ontario to be operational by 2030. A second project in Saskatchewan is evaluating technology vendors as well. On Stream #2, also the technology vendor was selected for a 5MWe test and demo reactor to be operational by late 2020s in Ontario. On Stream #3, a New Brunswick project is evaluating 4th Generation vendors.
The SMR technology developers estimate the Canadian market potential at USD 20 billion to USD 150 billion by 2050. The market is now opening large opportunities not only for SMR technology vendors with full reactor units, but also for sub-suppliers to the SMR builders and to the general developers of the projects already committed, or to their sub-suppliers. The opportunities range from large SMR components to a large variety of equipment, components, and materials for the rest of the power plant, including electricity generation and transportation, thermal energy use, and/or energy storage equipment, systems, and components, depending on the project needs.
The U.S. Commercial Service Canada is following closely the status and progress of the market and projects and is assisting U.S. companies with advocacy support and business to business contact information and facilitation for the Canadian supply chain.
For further information: Contact Commercial Specialist Stefan Popescu