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Source: CBC.ca
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  • Cameco Corporation (CCO) will explore possible areas of cooperation to support the potential future deployment, fuelling and servicing of Xe-100 small modular reactors (SMRs)
  • Saskatchewan-based Cameco is the world’s largest publicly traded uranium company, and second-largest uranium producer
  • Cameco signed a non-binding and non-exclusive Memorandum of Understanding with X-Energy
  • Ontario Power Generation identified the Xe-100 as a potential technology for the Darlington New Nuclear Project, aiming to have an SMR in operation as early as 2028
  • Cameco is down 1.76 per cent, trading at $37.67 at 12:23 pm ET

Cameco (CCO) is exploring opportunities for the potential deployment, fuelling and servicing of Xe-100 small modular reactors (SMRs).

Saskatchewan-based Cameco is the world’s largest publicly traded uranium company, and second-largest uranium producer.

Cameco signed a non-binding and non-exclusive Memorandum of Understanding with X-Energy for the collaboration which would cover the SMRs in Canada and the United States.

“We feel very confident about the future of nuclear power and the future of SMRs, here in Canada, in the U.S. and across the globe. We intend to be a fuel supplier of choice for the emerging SMR and advanced reactor market and look forward to working with X-energy to see what opportunities might exist around their innovative reactor technology,” said Cameco president and CEO Tim Gitzel.

Cameco is also a leader in uranium refining, conversion and fuel manufacturing services.

Under the Advanced Reactor Demonstration Program, the U.S. Department of Energy recently awarded X-energy approximately US$1.23 billion to license, site, build and operate a commercial-scale advanced nuclear power plant based on the Xe-100 design with Energy Northwest by 2027.

In October 2020, Ontario Power Generation Inc. identified the Xe-100 as a potential technology for the Darlington New Nuclear Project which aims to have an SMR in operation as early as 2028.

Cameco is down 1.76 per cent, trading at $37.67 at 12:23 pm ET.

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