An Ontario-based nuclear energy technology company is expanding operations into Alberta an office in Calgary.
The announcement, made Wednesday, would see Terrestrial Energy invest $18 million to create an engineering, research and development hub in Calgary.
The expansion is expected to create up to 29 jobs.
“Alberta is a global energy hub with a track record of pursuing innovation in energy markets,” said the company’s CEO, Simon Irish, in a prepared release.
Today its industries are investigating the potential of nuclear innovation to deliver transformative changes, supported by the provincial government’s continued focus on innovation and growth.”
The company said they hope to deliver the first Integral Molten Salt Reactor cogeneration plant in Alberta. Its likely landing spot would be northern Alberta to help power oilsands projects.
In July 2022, Terrestrial Energy and Invest Alberta signed a memorandum of understanding to explore an Alberta expansion. They said this is the result of that work.
“Terrestrial Energy’s expansion into Alberta reflects the potential Alberta holds for energy transition and emission reduction,” said Rick Christiannse, CEO of Invest Alberta.
Alberta joined the governments of Ontario, New Brunswick and Saskatchewan in April 2021 on an interprovincial plan to further grow nuclear energy in these provinces. The focus is on small modular nuclear reactors (SMRs).
The group released a strategic plan for SMRs last year.
Calgary Economic Development President and CEO, Brad Parry, said this builds on a pathway to net zero for Calgary and Alberta.
“Calgary is a global leader in cleantech innovation and companies like Terrestrial Energy will help power our pathway to a net-zero economy,” he said.
“Our city is home to experts in all things energy and has the companies, capital and talent to achieve Canada’s energy transition goals.”