GE Hitachi Nuclear Energy Canada and Candu Energy Inc. to Explore Advanced Fuel Cycle Technology in New Canada-UK Agreement on Nuclear Energy Cooperation

PETERBOROUGH, ON, June 29, 2015 /CNW/ -The governments of Canada and the United Kingdom signed a Memorandum of Understanding (MoU) today, aimed at advancing cooperation in the field of nuclear technology, including the application of advanced and alternative fuel cycles. The agreement will draw on the partnership between Candu Energy Inc. and GE Hitachi Nuclear Energy Canada (GEH-C) to explore solutions for the reuse of the UK's civil plutonium and recovered uranium stockpiles in CANDU® heavy water reactors.

The MoU reinforces the already strong bilateral ties between government agencies, regulatory authorities, business and academia, to focus efforts on addressing affordable power generation, energy and fuel security challenges facing the UK.

"We are excited by the signing of this MoU that would allow GEH-C's vast experience in commercial production of nuclear fuel pellets and the safe, reliable delivery of nuclear fuel to underpin the use of MOX fuel in new UK based CANDU reactors. The signing of this MoU is a very positive step in bringing heavy water reactor technology back to the UK." said Mark Ward, President & CEO of GEH-C.

The MoU signing comes as Candu Energy Inc., is in the process of developing its CANMOX™ solution, which was recently presented to stakeholders in briefings sponsored by London's Imperial College and the University of Manchester's Dalton Institute. Candu's CANMOX technology has already been noted as "credible" by the UK Nuclear Decommissioning Authority.

"GEH-C has been a long-term partner of ours," said Preston Swafford, President & CEO, Candu Energy. "Together with Canadian Nuclear Laboratories, GEH-C and Candu are committed to developing a solution to safely, reliably and affordably reuse the UK's legacy stockpiles."

For more information on the CANMOX solution, please visit www.candu.com/canduintheuk.

About GE

GE (NYSE: GE) imagines things others don't, builds things others can't and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com

SOURCE General Electric Canada Inc.

For further information: Media Contact: Rahim Ladha, GE Canada, Director of Communications & Public Affairs, E-mail: Rahim.Ladha@ge.com, Phone: 647-281-7073

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