CHALK RIVER, Ontario, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology organization, is pleased to announce the launch of an exciting portfolio of work known as the New Nuclear & Emerging Technologies (N2ET) program. N2ET is designed to help fast-track promising research and technologies towards commercialization and deployment. The new program is aimed at facilitating collaboration between CNL and other pioneering technology developers, as well as positioning CNL to direct funding into promising technologies or ventures that align with its mandate.
The N2ET program initially consolidates several existing clean energy and health sciences projects into one program, including CNL’s small modular reactor (SMR) siting invitation; the Canadian Nuclear Research Initiative (CNRI); CNL’s Clean Energy Demonstration, Innovation and Research (CEDIR) Park project; the joint venture company, Actineer, recently launched by CNL and ITM Isotope Technologies Munich SE (ITM) of Germany; and, Fusion Fuel Cycles, Inc., a new joint venture recently announced between CNL and Kyoto Fusioneering of Japan. Overall, N2ET is expected to encompass research and technologies that include nuclear energy, fusion, hydrogen and even renewables, as well as health sciences, with a key focus on medical isotopes.
As its namesake indicates, the N2ET program creates opportunities for emerging technologies to tap into resources, including potential funding, designed to help move innovative ideas through to technology and market readiness. A key advantage in the formation of the N2ET program is the ability for CNL to help promising technologies or companies that align with its mandate.
“Over the past five years, CNL has made meaningful progress in building and growing a broad portfolio of projects that give ambitious companies better access to our extensive technical resources, and which advance innovative technologies to address real-world problems,” commented Dr. Stephen Bushby, CNL’s Vice-President of Science and Technology. “We are now consolidating these projects into N2ET, CNL’s new flagship program, which will offer better consistency, focus and synergies across these projects, and which also opens opportunities to better collaborate with promising Canadian companies and technologies. N2ET is the future of CNL, and it is already off to a tremendous start.”
“AECL’s vision is to drive nuclear innovation and to leverage science, technology and CNL’s expertise for the benefit of Canada. It is proud to support CNL in launching the N2ET program as it directly supports our vision. Canada’s nuclear sector is poised for growth and the N2ET program is intended to assist and encompass important opportunities for Canada at this critical juncture,” said Grant Gardiner, AECL’s Executive Vice-President, Strategy and Business Development.
Facts about CNL’s N2ET Program
- The new N2ET program at CNL encompasses a variety of existing projects within its clean energy and health sciences programs, including:
- The SMR siting program, which invites vendors to construct small modular reactor, fusion reactor, or other advanced reactor demonstration units at one of the sites that CNL manages on behalf of Atomic Energy of Canada Limited (AECL).
- The CNRI program, which is designed to accelerate the development and deployment of advanced reactor designs, and which allows participants to optimize resources, share technical knowledge and gain access to CNL’s expertise and unique facilities.
- The CEDIR Park program, which advances the science behind hybrid energy systems to better understand how clean energy technologies can work together alongside other renewable energy technologies.
- The launch of Actineer Inc., a new joint venture company between CNL and ITM that is pursuing the industrial scale production of Actinium-225, a promising new medical isotope in the fight against cancer.
- The formation of Fusion Fuel Cycles Inc., a joint venture between CNL and Kyoto Fusioneering, which aims to develop and deploy deuterium-tritium (D-T) fusion fuel cycle technologies.
- CNL’s support for projects under the N2ET portfolio of activities over the last five years has averaged $17 Million on an annual basis with variance based on project demand; expectations are for further growth in the years ahead.
- N2ET aligns with Vision 2030, CNL’s corporate strategy, which organizes its activities into three strategic priorities – restoring and protecting the environment, advancing clean energy for today and tomorrow, and contributing to the health of Canadians – that guides the company in pursuit of next-generation solutions to address some of the nation’s biggest challenges.
About CNL
As Canada’s premier nuclear science and technology laboratory and working under the direction of Atomic Energy of Canada Limited (AECL), CNL is a world leader in the development of innovative nuclear science and technology products and services. Guided by an ambitious corporate strategy known as Vision 2030, CNL fulfills three strategic priorities of national importance – restoring and protecting the environment, advancing clean energy technologies, and contributing to the health of Canadians.
By leveraging the assets owned by AECL, CNL also serves as the nexus between government, the nuclear industry, the broader private sector and the academic community. CNL works in collaboration with these sectors to advance innovative Canadian products and services towards real-world use, including carbon-free energy, cancer treatments and other therapies, non-proliferation technologies and waste management solutions.
To learn more about CNL, please visit www.cnl.ca.
About Atomic Energy of Canada Limited
Atomic Energy of Canada Limited (AECL) is a federal Crown corporation with a mandate to drive nuclear opportunities for Canada. Working through a government-owned / contractor-operated (GoCo) model that is executed by its contractor, Canadian Nuclear Laboratories, AECL enables nuclear science and technology through its Chalk River Laboratories, Canada’s largest research complex, and by engaging with academia and private industry to advance nuclear innovation. It is committed to advancing reconciliation with Indigenous peoples. It also manages the Government of Canada’s radioactive waste responsibilities. AECL continues to own the intellectual property for the CANDU® reactor technology and is accountable for deriving optimal benefit from this technology for Canada.
Read more on AECL at www.aecl.ca.
CNL Contact:
Philip Kompass
Director, Corporate Communications
1-866-886-2325
media@cnl.ca
