GE Vernova to Build Service Center for Small Reactors in Ontario
Ontario will have the world's first service center for a new, smaller kind of nuclear plant, as the province embraces a technology that's been touted as a way to meet surging power demand from artificial intelligence.
GE Vernova Hitachi Nuclear Energy has committed C$70 million ($51 million) to build an engineering and service center outside Toronto for small modular reactors. The announcement comes less than two months after Ontario gave the green light to a C$20.9 billion project to build such reactors.
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Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information about the Financing, the Debenture and the Shares-for-Debt Transaction, including information regarding the use of proceeds of the Financing and TSXV final approval of the Financing and the Shares-for-Debt Transaction. 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