ARC Clean Energy Canada, based in Saint John, N.B., has signed a memorandum of understanding with Cross River Infrastructure Partners to develop sustainable industrial projects using advanced small modular reactor technology.
Cross River Infrastructure Partners, based in Connecticut, is a developer of sustainable infrastructure, developing and financing next-generation clean fuels, clean power, large-scale carbon capture and alternative protein projects in North America.
Cross River will be responsible for project origination and financing for projects requiring carbon-free power and/or heat using ARC’s proprietary technology. The partnership will focus on developing world-scale energy hubs to produce clean, base-load power and clean fuels, all powered by ARC technology.
According to The Telegraph-Journal newspaper, the agreement with Cross River has ARC planning a second location in New Brunswick that would use its SMR technology to produce steam. It could also result in ammonia plants being built at the province’s ports, for international shipment.
It’s a new area for ARC which has been focused on electric utilities and not industrial manufacturers.
“With the development of new sustainable investment strategies, in combination with government policies, such as Canada’s Clean Fuel Standard, the financial sector is poised to support grid scale carbon-free power and industrial heat sources that will have a meaningful impact on reversing climate change,” said William Labbe, ARC Canada president and CEO.
“Combining ARC’s simplicity of design with Cross River’s integrated project delivery model is fundamental to ensuring the project can be financed and delivered.”
Andrew Wilder, CEO of Cross River, said he believes the hydrogen economy is firmly upon us and sectors such as transportation will require immense levels of low-cost hydrogen, and hydrogen carriers such as ammonia to effectively decarbonize.
In a commentary posted online, Labbe outlined next steps for ARC, which include working with the Canadian Nuclear Safety Commission’s vendor design review phase II process. This voluntary pre-licensing activity ensures the technology aligns with Canada’s world-class regulator, identifying any barriers to licencing to be resolved early in the project.
In addition, he said ARC Canada is continuing its plans to develop a fabrication facility and supply chain in the province that will build on the existing infrastructure and manufacturing base. Its supply chain event in the Spring of 2022 will assist potential supply chain participants and First Nations in understanding the process of becoming a qualified supplier and the process of obtaining funding to bring companies to qualification levels.
More information is available online at www.arcenergy.co.