CANADA – ARC Clean Energy Canada, a Saint John, New Brunswick-based advanced small modular reactor (aSMR) technology provider, closed a $30m Series A financing.
Backers included private sector investors and the Province of New Brunswick. This financing will progress the deployment of Canada’s first commercial grid-scale aSMR at the Point Lepreau Nuclear Generating Station (PLNGS) site, owned by the provincial utility, New Brunswick Power (NB Power). It also sets the stage for further milestone achievements which will unlock additional funding from the province.Led by President & CEO Mr. William P. Labbe, Jr.., ARC Clean Energy Canada is a clean energy technology company developing an advanced small modular reactor (SMR) offering inherently safe, reliable, and economical carbon free power that deals with waste for both on-grid and industrial applications. The technology is a modular 100MW fast reactor that improves upon existing nuclear with its enhanced field-proven safety features and operates with a 20-year refueling cycle.The company will deploy its technology for both electrical and industrial applications to customers including utilities, governments, and corporations. The launch customer is NB Power. 04/04/2022
