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Cameco Corporation - President and CEO, Tim Gitzel
President and CEO, Tim Gitzel
Source: cameco.com
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  • Terrestrial Energy and Cameco Corporation (CCO) have signed a memorandum of understanding (MOU) to look into potential partnership opportunities
  • The MOU is in relation to Terrestrial Energy’s deployment of integrated molten salt reactor (IMSR) in North America and Internationally
  • The MOU is non-binding and non-exclusive
  • The Terrestrial Energy IMSR is one of three small modular designs being considered for deployment at Ontario Power Generation’s Darlington nuclear generating station
  • Cameco Corp. (CCO) is up 2.98 per cent and is trading at $31.40 per share at 12:34 p.m. ET

Terrestrial Energy and Cameco Corporation (CCO) have signed a memorandum of understanding (MOU) to look into potential partnership opportunities.

Specifically in relation to deployment of Terrestrial Energy’s integrated molten salt reactor (IMSR) generation IV nuclear power plants in North America and internationally.

In addition to these opportunities, the companies are investigating the potential of Cameco’s Port Hope uranium conversion facility in Ontario for IMSR fuel salt supply.

The MOU is non-binding and non-exclusive. It follows Terrestrial Energy’s previous agreements with Cameco to supply uranium products for its ongoing fuel testing programs.

Tim Gitzel, President and CEO of Cameco, comments how nuclear energy is a reliable source of carbon-free power and is a ‘critical tool’ for achieving zero-emission targets.

“Cameco plans to be a key fuel supplier for the emerging small modular reactor and advanced reactor market,” he said. “We look forward to investigating with Terrestrial Energy opportunities to partner for possible future deployments of its next generation nuclear power plant technology.”

Simon Irish, CEO of Terrestrial Energy, reiterates the welcome of partnership opportunities around the deployment of IMSR power plants and supplying nuclear fuel to its plants.

“IMSR power plants use generation IV nuclear technology for a 50 per cent improvement in the efficiency of nuclear power generation and are a carbon-free alternative to burning fossil fuels,” he said.

The Terrestrial Energy IMSR power plant is one of three small modular reactor (SMR) power plant designs under review for deployment at Ontario Power Generation’s (OPG) Darlington nuclear generating station.

It is one of two-generation IV technology candidates being considered by OPG, and the IMSR is the only Canadian technology candidate.

Cameco Corp. (CCO) is up 2.98 per cent and is trading at $31.40 per share at 12:34 p.m. ET.

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