Candu Energy Welcomes New Phase of Canada-UK Nuclear Energy Cooperation

MISSISSAUGA, ON, June 29, 2015 /CNW/ - Candu Energy, a Member of the SNC-Lavalin Group, today welcomed the signing of a Memorandum of Understanding (MOU) between the governments of Canada and the United Kingdom to enhance cooperation in the field of civil nuclear energy. Signed by Canada's High Commissioner Gordon Campbell and Lee McDonough, Director, Office of Nuclear Development for the UK Department of Climate Change, the MOU is a significant milestone that will strengthen the ties between the countries' nuclear industries.

"This MOU galvanizes joint R&D, regulatory co-operation, technology transfer and investment into the UK nuclear sector and has the potential to unlock a powerful energy source for UK electricity consumers," said Preston Swafford, President and CEO, Candu Energy.

The signing comes as Candu Energy's CANMOX™ proposal to reuse the UK's civil plutonium and recovered uranium stockpiles is being presented today to the UK's nuclear supply chain at a meeting organized by the Organization of Canadian Nuclear Suppliers at Canada House in London.

The proposed CANMOX™ solution has been noted as being "credible" by the UK Nuclear Decommissioning Authority; the signing of this MOU establishes the means and processes by which such a project could be adopted.

"Candu welcomes this constructive step forward and will work diligently with UK stakeholders and the UK nuclear supply chain to present a safe, reliable and affordable solution to reuse the country's legacy stockpiles," said Swafford.

The MOU encourages and facilitates closer relationships between government agencies, regulatory authorities, academic and financial institutions in:

• Uranium supply
• Reactor design, construction, operation and decommissioning
• Adaptation of designs to use alternative and advanced fuel cycles that support the safe and proper disposition of legacy material
• Development of workforce skills through partnerships between academic institutions, suppliers and operators
• Joint R&D prioritization

The CANMOX solution would involve building a mixed oxide (MOX) fuel plant and four Generation III Enhanced CANDU 6^® (EC6^®) reactors to produce 3,000 MWe of competitive, low carbon power for over 60 years. This amount of electricity is capable of powering 500,000 UK homes.

"We are excited about the future of nuclear energy development in the UK and the potential to reuse legacy materials as fuel for a new generation of power plants," said Swafford. "On-budget and on-schedule construction of the EC6 reactors will generate enduring economic benefits, providing a large number of high-quality jobs in construction and manufacturing followed by approximately 2,400 long-term operational jobs at the fuel plant and reactors."

About Candu Energy Inc.
Candu Energy Inc., a Member of the SNC-Lavalin Group, is a leading full-service nuclear technology company providing nuclear power reactors and nuclear products and services to customers worldwide. Our highly skilled employees design and deliver state-of-the-art CANDU® reactors, carry out life extension projects, offer operations, maintenance and plant life management services for existing nuclear power stations.

About the EC6
Our Enhanced CANDU 6® (EC6®) reactor is a 700MW Class Generation III reactor based on the highly successful CANDU 6® reactor with a number of safety enhancements to meet the latest Canadian and international standards. It uses natural uranium fuel, heavy-water moderator and heavy-water coolant in a pressure tube design. It can be refueled on power and has one of the highest lifetime capacity factors among the world's reactors. It is ideal for small and medium electric grids, and benefits from the CANDU 6 experience of proven design, construction and operation.

SOURCE Candu Energy Inc.

For further information: In Canada: Katherine Ward, [email protected], [phone]; In the UK: Paulina Jukubec, [email protected], [phone]