Latest news with #AtomicEnergyofCanadaLimited
Business Wire
2 days ago
- Business
- Business Wire
Amentum Announces Award for the Management and Operations of Canadian Nuclear Laboratories
CHANTILLY, Va.--(BUSINESS WIRE)-- Amentum (NYSE: AMTM), a global leader in advanced engineering and innovative technology solutions, announced the award of a significant new contract from Atomic Energy of Canada Limited (AECL) to provide operations and management solutions for Canadian Nuclear Laboratories (CNL). Under this contract, Amentum will help advance nuclear science, technology, and innovation across Canada. 'This contract award reflects our deep expertise in nuclear operations and environmental remediation, and our commitment to delivering safe, reliable, and innovative solutions that serve the best interests of Canada' Share 'This contract award reflects our deep expertise in nuclear operations and environmental remediation, and our commitment to delivering safe, reliable, and innovative solutions that serve the best interests of Canada,' said Mark Whitney, Amentum's Energy and Environment president. "We will pursue valuable collaborations and partnerships with industry and academia to advance nuclear innovation for the public good." Valued at approximately CAD$1.2 billion annually on average, the contract was awarded to Nuclear Laboratory Partners of Canada, Inc. (NLPC), a BWXT-led joint venture that includes Amentum, Kinectrics, and Battelle. The contract consists of a six-year base award with extension periods based on performance, up to a total of twenty years. The formal transition of the contract is anticipated to begin this summer. This strategic joint venture will see Amentum providing comprehensive nuclear operational solutions, research and development, and technical expertise to CNL's extensive nuclear facilities. NLPC aims to enhance Canada's nuclear capabilities, promote safety and environmental stewardship, and foster innovation in nuclear science and technology. This award reflects Amentum's global leadership and expertise in the nuclear industry. Amentum will leverage its worldwide team of experienced engineering and technical nuclear experts to support Canada's advanced energy and security objectives. 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 About Amentum Amentum is a global leader in advanced engineering and innovative technology solutions, trusted by the United States and its allies to address their most significant and complex challenges in science, security and sustainability. Our people apply undaunted curiosity, relentless ambition and boundless imagination to challenge convention and drive progress. Our commitments are underpinned by the belief that safety, collaboration and well-being are integral to success. Headquartered in Chantilly, Virginia, we have more than 53,000 employees in approximately 80 countries across all 7 continents. Visit us at to learn how we advance the future together. Follow @Amentum_corp on X Follow Amentum on LinkedIn Forward-Looking Statements This press release contains or incorporates by reference statements by Amentum Holdings, Inc. (the 'Company') that relate to future events and expectations and, as such, constitute 'forward-looking statements' as that term is defined in the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements may be characterized by terminology such as 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'forecast,' 'outlook,' 'target,' 'endeavor,' 'seek,' 'predict,' 'intend,' 'strategy,' 'plan,' 'may,' 'could,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result,' or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the anticipated work and revenue under the awarded contract, and the Company's objectives, expectations and intentions, applicable legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including those factors discussed in our filings with the Securities and Exchange Commission (SEC), including, among others: the occurrence of an accident or safety incident; the ability of the Company to control costs, meet performance requirements or contractual schedules; and other factors set forth under Item 1A, Risk Factors in our Annual Report on Form 10-K for the fiscal year ended September 27, 2024, which can be found at the SEC's website at or the Investor Relations portion of our website at Any forward-looking statement speaks only as of the date on which it is made, and the Company assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Yahoo
2 days ago
- Business
- Yahoo
Amentum Announces Award for the Management and Operations of Canadian Nuclear Laboratories
CHANTILLY, Va., June 12, 2025--(BUSINESS WIRE)--Amentum (NYSE: AMTM), a global leader in advanced engineering and innovative technology solutions, announced the award of a significant new contract from Atomic Energy of Canada Limited (AECL) to provide operations and management solutions for Canadian Nuclear Laboratories (CNL). Under this contract, Amentum will help advance nuclear science, technology, and innovation across Canada. "This contract award reflects our deep expertise in nuclear operations and environmental remediation, and our commitment to delivering safe, reliable, and innovative solutions that serve the best interests of Canada," said Mark Whitney, Amentum's Energy and Environment president. "We will pursue valuable collaborations and partnerships with industry and academia to advance nuclear innovation for the public good." Valued at approximately CAD$1.2 billion annually on average, the contract was awarded to Nuclear Laboratory Partners of Canada, Inc. (NLPC), a BWXT-led joint venture that includes Amentum, Kinectrics, and Battelle. The contract consists of a six-year base award with extension periods based on performance, up to a total of twenty years. The formal transition of the contract is anticipated to begin this summer. This strategic joint venture will see Amentum providing comprehensive nuclear operational solutions, research and development, and technical expertise to CNL's extensive nuclear facilities. NLPC aims to enhance Canada's nuclear capabilities, promote safety and environmental stewardship, and foster innovation in nuclear science and technology. This award reflects Amentum's global leadership and expertise in the nuclear industry. Amentum will leverage its worldwide team of experienced engineering and technical nuclear experts to support Canada's advanced energy and security objectives. 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 About Amentum Amentum is a global leader in advanced engineering and innovative technology solutions, trusted by the United States and its allies to address their most significant and complex challenges in science, security and sustainability. Our people apply undaunted curiosity, relentless ambition and boundless imagination to challenge convention and drive progress. Our commitments are underpinned by the belief that safety, collaboration and well-being are integral to success. Headquartered in Chantilly, Virginia, we have more than 53,000 employees in approximately 80 countries across all 7 continents. Visit us at to learn how we advance the future together. Follow @Amentum_corp on XFollow Amentum on LinkedIn Forward-Looking Statements This press release contains or incorporates by reference statements by Amentum Holdings, Inc. (the "Company") that relate to future events and expectations and, as such, constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements may be characterized by terminology such as "believe," "project," "expect," "anticipate," "estimate," "forecast," "outlook," "target," "endeavor," "seek," "predict," "intend," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the anticipated work and revenue under the awarded contract, and the Company's objectives, expectations and intentions, applicable legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including those factors discussed in our filings with the Securities and Exchange Commission (SEC), including, among others: the occurrence of an accident or safety incident; the ability of the Company to control costs, meet performance requirements or contractual schedules; and other factors set forth under Item 1A, Risk Factors in our Annual Report on Form 10-K for the fiscal year ended September 27, 2024, which can be found at the SEC's website at or the Investor Relations portion of our website at Any forward-looking statement speaks only as of the date on which it is made, and the Company assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law. View source version on Contacts Media Contact:Keith Investor Contact:Nathan RutledgeIR@
Globe and Mail
11-03-2025
- Business
- Globe and Mail
Canada's Nuclear Boom: Big Investments in CANDU and SMRs
Canada is making bold moves in nuclear energy. It is investing heavily in next-generation technology to boost its clean power supply. As demand for low-emission electricity grows, the government is modernizing its flagship CANDU reactors along with developing the small modular reactors (SMRs). On March 5, 2025, Canada's Energy Minister, Jonathan Wilkinson, announced a deal with AtkinsRéalis to develop the MONARK reactor, a new CANDU design. Under this agreement, Canada will provide up to $304 million over four years to cover 50% of the project's design costs. AtkinsRéalis CEO Ian L. Edwards, 'We are honoured to have the full faith and confidence of the Government of Canada in continuing our development of proven home-grown CANDU technology.' AtkinsRéalis Leads CANDU Innovation AtkinsRéalis, a global engineering and nuclear company, has been operating since 1911. It focuses on building a sustainable future by connecting people, data, and technology. The company provides end-to-end services to key sectors such as engineering, nuclear, and capital projects. They have pioneered CANDU technology for over a decade and have contributed majorly to global low-carbon energy solutions. CEO Ian L. Edwards further added, 'The federal government's decision today to invest in the further development of CANDU technology, an evolution of the proven Darlington reactor model, will enable us to continue this important work already underway with our utility partners. Advancing CANDU technology creates economic value for the country and Canadians, ensures energy security at this critical time, improves health outcomes through the creation of more cancer-fighting isotopes, builds stronger and more resilient relationships with Indigenous peoples, workers and communities, and above all, maintains Canada's status as a Tier-1 nuclear nation.' This initiative involves Atomic Energy of Canada Limited (AECL), Canadian suppliers, and reactor operators. Together, they will modernize a technology that has powered Canada for decades. Canada's CANDU Advantage: A Homegrown Powerhouse CANDU (CANada Deuterium Uranium) reactors have a major plus. They use natural uranium sourced from Saskatchewan. This means no enriched uranium is needed. Most of the uranium is used to produce fuel for nuclear plants (over 99%). The rest (less than 1%) is used for research reactors and medical isotopes. In 2022, Canada produced 7.4 kilotonnes of uranium from mines in Saskatchewan. This was worth around $1.1 billion. This makes uranium a secure energy source for Canada and an easily available fuel for CANDU reactors. Currently, Canada has 17 CANDU reactors—16 in Ontario and one in New Brunswick. Net Zero Integration: can eliminate over 17 million tonnes of CO₂ emissions annually when replacing coal. Internationally, CANDU technology is used in South Korea, China, Argentina, and Romania. Demand for CANDU reactors is rising. In late 2024, Romania said it would buy two more units for its Cernavoda nuclear site. This move strengthens Canada's reputation in global nuclear energy. The CANDU supply chain drives economic growth as the industry sources 85% of its components from domestic companies. This supports 89,000 high-quality jobs in manufacturing and engineering. In 2024, AtkinsRéalis hired over 750 new employees for Candu Energy Inc. and placed more than $1 billion in orders with Canadian suppliers. Minister Wilkinson hailed the potential of CANDU reactors by explaining, 'CANDU reactors maintain an almost entirely Canadian-made, Canadian-designed supply chain through a consortium of Canadian companies, and they provide good-paying, long-lasting, and sustainable jobs in manufacturing for Canadians. They are also fuelled by uranium mined in Saskatchewan without the need for enrichment. As countries look to secure safe sources of clean energy, demand for Canadian nuclear is growing. The Government of Canada is acting now to modernize Canadian-owned CANDU technology, which will provide a viable, cost-effective design in support of the expansion of nuclear energy capacity in Canada and internationally.' SMRs: The Future of Flexible Nuclear Power Canada is also investing in small modular reactors to diversify its nuclear energy options. The Government's press release also highlighted, Minister Wilkinson, on behalf of the Honourable Steven Guilbeault, Minister of Environment and Climate Change, also announced $55 million in funding from Environment and Climate Change Canada's Future Electricity Fund (FEF) to support Ontario Power Generation's Darlington New Nuclear Project. This project will install three GE Hitachi BWRX-300 SMRs at Darlington. Each unit will produce 300 megawatts, which can power 900,000 homes. Saskatchewan is moving forward with SMR deployment. The federal government increased funding for SaskPower's pre-development work. It went up from $24 million to $80 million. This support helps with engineering studies, environmental assessments, regulatory planning, and collaboration with indigenous communities. These are all essential steps before construction begins. More Nuclear Investments, Less Carbon Moving on, Minister Wilkinson announced a $52.4 million investment to push SMRs and CANDU reactors. This investment also includes decarbonization strategies in Saskatchewan, Alberta, and Ontario. The investment includes $11.4 million from the Enabling SMRs Program for three projects and $41 million under NRCan's Electricity Predevelopment Program for four projects. This investment reflects Canada's dedication to partnering with businesses, utilities, and system operators to grow clean energy. By backing both proven CANDU technology and new SMR projects, the government aims to fortify its nuclear policy and establish Canada as a leading global energy provider. Economic and Environmental Wins Investing in nuclear power offers major economic advantages. The Conference Board of Canada says a four-reactor CANDU project could boost Canada's GDP by $50 billion. It might also generate $29 billion in tax revenue. Additionally, building these four CANDU reactors could create over 20,000 full-time jobs and ~ 3,500 permanent jobs for more than 70 years. Nuclear energy is also crucial for Canada's goal of net-zero emissions by 2050. Unlike fossil fuels, CANDU reactors and SMRs produce zero emissions. Thus, expanding the nuclear capacity will bring direct environmental benefits like: They provide a clean and reliable power source. Help replace coal and natural gas plants. Cut greenhouse gas emissions and ensure a stable electricity supply. With strong government support and growing investment, nuclear energy has a bright future in Canada. It will also play a key role in cutting emissions by 45–50% below 2005 levels by 2035.
