Canadian Nuclear Laboratories and Canadian Commercial Corporation Sign Letter of Understanding to Cooperate on Global Expansion of Nuclear Energy

Agreement comes as Canada works to strengthen nuclear partnerships in the Indo-Pacific region

CHALK RIVER, Ontario, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology laboratory, and the Canadian Commercial Corporation (CCC), Canada’s government-to-government contracting agency, are pleased to announce that they have signed a Letter of Understanding (LOU) to collaborate on the pursuit of international commercial opportunities for Canada’s nuclear sector. With their complementary mandates - CCC in facilitating international trade, and CNL in advancing nuclear energy – the new partnership will support the continued growth, safety, and global competitiveness of the Canadian nuclear industry.

Under the agreement, CNL and CCC will leverage their respective strengths to pursue international market access and export opportunities, through activities that include the promotion of Canadian nuclear expertise, technologies, and solutions in international markets; upholding the highest levels of safety, security and non-proliferation; the sourcing of critical components, technologies and services from qualified Canadian companies; and the exportation of CNL’s technologies and intellectual property. The work may also encompass knowledge transfer and capacity building activities, given CCC’s expertise in international markets, government-to-government contracting, and the export of Canadian nuclear technologies and related services.

“On behalf of everyone at CNL, I want to express our collective gratitude and excitement at this agreement with CCC, an organization that shares our vision for the growth and expansion of Canadian science, technology and expertise internationally,” commented Lou Riccoboni, CNL’s Vice-President of Corporate Affairs and Business Development. “CNL and AECL have a long history of exporting nuclear solutions to our friends and allies abroad, including nuclear energy and medical isotopes. With the challenges posed by climate change and energy insecurity, we are pleased to see the resurgence in nuclear energy unfolding and want to do our part to help emerging nuclear nations pursue economic development, reduce emissions, and advance innovative technologies through the safe and responsible use of nuclear science and technology.”

“Canada is a global leader in nuclear science and technology, with a long history of providing emissions-free, low-cost energy solutions as well as enabling medical applications, such as cancer treatment,” said Kim Douglas, CCC’s Vice-President of Business Development and Marketing. “Governments are increasingly turning to Canada to explore adoption or expansion of nuclear investments, and CCC aims to support these governments with their energy transition plans through our government-to-government contracting model. This is opening opportunities for Canadian companies in the nuclear supply chain. CCC looks forward to our collaboration with CNL as we endeavor to export Canadian nuclear solutions to the Indo-Pacific and beyond.”

“Canada is a tier 1 nuclear country, recognized globally for its expertise and capabilities. This agreement highlights Canada’s commitment to fostering innovation and collaboration in the global nuclear sector,” commented Mary Ng, Minister of Export Promotion, International Trade and Economic Development of Canada. “We’re not only advancing clean and reliable energy solutions, but also strengthening Canada’s global reputation as a responsible leader in the nuclear sector and our long-term commitment to the Indo-Pacific region. Together, we’re paving the way for a net-zero future, while creating new opportunities for Canadian businesses to grow and thrive on the international stage.”

The agreement comes on the heels of November’s Asia-Pacific Economic Cooperation (APEC) Leaders’ Summit in Lima, Peru, where Prime Minister Justin Trudeau announced Canada’s vision to strengthen nuclear partnerships in the Indo-Pacific region through the Canadian Trade Gateway for Nuclear Development. In support of that vision, CNL joined a Team Canada Trade Mission to Indonesia and the Philippines in December designed to help Canadian exporters and innovators showcase their capabilities to facilitate long-term trade and investment opportunities.

According to Global Affairs Canada, the Indo-Pacific is Canada’s second-largest export market, after the United States, with annual two-way merchandise trade valued at $257 billion in 2023. The Canadian Trade Gateway for Nuclear Development is designed to help strengthen Canada’s nuclear partnerships in the region, develop local expertise and facilitate knowledge sharing in the nuclear sector. It will also identify opportunities for Canada’s industry to meet regional needs, including through round tables, symposiums and other engagement events. The gateway also aims to increase opportunities for Canadian businesses working in the nuclear industry to grow their engagement in the region, creating good, well-paying jobs, while strengthening commercial and investment ties between the economies of Canada and Indo-Pacific countries.

If you’d like to learn more about CNL, including its projects in clean energy and health sciences, please visit www.cnl.ca. To learn more about CCC, please visit http://www.ccc.ca.

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 CCC

CCC is Canada’s government to government contracting agency. We help build successful commercial relationships between Canadian businesses and governments around the world through our government to government contracting approach. Governments around the world turn to CCC to facilitate acquisitions from Canada for projects of national importance and to reduce their international procurement risk. Canadian exporters turn to CCC because some international sales need government advocacy and support to level the playing field. To learn more about how we have facilitated billions in trade between Canadian businesses and governments around the world, visit ccc.ca.

CNL Contact:
Philip Kompass
Director, Corporate Communications
1-866-886-2325
media@cnl.ca

CCC contact
For media enquiries, please contact communications@ccc.ca

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0fa3cdaa-f091-43cf-8449-b95ee54db473