Moltex Energy to explore opportunities in northern New Brunswick
Moltex Energy has signed a memorandum of understanding with a First Nation and a deep water port in New Brunswick to foster opportunities together, particularly around small modular reactor development.
The agreement calls on Moltex, Pabineau First Nation and the Port of Belledune to collaborate on “mutually beneficial initiatives at the Port of Belledune and surrounding areas in northern New Brunswick.”
“Developing partnerships with First Nation communities and other stakeholders in New Brunswick is a top priority for us,” said Rory O’Sullivan, CEO of Moltex Energy. “We recognize the importance of early and frequent engagement, not just to build trust, but so communities can build the necessary capacity to support and benefit from our operations.”
Pabineau First Nation is one of seven member nations served by the North Shore Micmac District Council, which signed an MOU with Moltex last year to work collaboratively on the development and implementation of Moltex’s SMR technology, while identifying and enabling employment and economic opportunities for First Nation communities in New Brunswick.
“Our community is eager to benefit from the jobs and economic prosperity this new industry will bring to the province,” Pabineau Chief Terry Richardson said in a news release.
Added Denis Caron, president and CEO of the Belledune Port Authority: “We understand the needs and opportunities associated with energy development and are well-suited to support a range of import and export services.”
Moltex said access to a deep-water port such as the one at Belledune is essential for exporting components and modules if it is to be successful in selling reactors around the world.