Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeEnergyMontreal company plans to build a plant for small modular reactor parts east of Toronto in supply chain dealSMRs are a class of reactors with a power capacity of up to 300 megawatts per unit, a third of the size of a full reactorLast updated 46 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.Velan Inc., a leading manufacturer of industrial valves, plans to build a new manufacturing facility in Durham Region in the eastern end of the Greater Toronto Area to support SMR technologies. Photo by NurPhoto/Getty ImagesOn Wednesday, the Ontario government announced that GE Vernova Hitachi Nuclear Energy (GVH) and Montreal-based Velan Inc. signed a partnership agreement to explore opportunities to deploy nuclear components for small modular reactor (SMR) projects in Europe.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorGVH, a provider of advanced reactors, fuel and nuclear services, was created in an alliance between United States multinational conglomerate General Electric and Japan’s Hitachi Ltd.“With more than $600 billion in global SMR investment expected in the decades ahead, our government is firing up the Ontario supply chain helping create good-paying jobs for Canadians,” said Stephen Lecce, Ontario minister of energy and mines, in a press release about the announcement.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againVelan Inc., a manufacturer of industrial valves, plans to build a new manufacturing facility in Durham Region in the eastern end of the Greater Toronto Area to support SMR technologies, according to the announcement. This “is another … commitment of the company, because we have given them long-term predictable investment (funding), we’re building 16,000 megawatts,” said Lecce in a video of the agreement signing event in Paris Wednesday.This facility would be responsible for the manufacturing of reactor integral isolation valves (RIIVs) and containment isolation valves (CIVs), which are pieces of safety equipment for SMRs. The government expects each new reactor built to bring up to $70 million worth of new investment into Ontario.SMRs are a class of nuclear power reactors that have a power capacity of up to 300 megawatts per unit, which is about a third of the size of a full nuclear reactor used for power generation, according to Laurent Karim Béland, an associate professor of mechanical and materials engineering at Queen’s University.Béland called the partnership between Velan and GVH “a win-win relationship,” as Ontario has already built an expertise and industrial base for this technology, while working with regulators. This is particularly important for nuclear supply chains, which come with plenty of regulatory requirements, he said, adding that European reactors have often run into regulatory issues with their supply chains. This can cause the risk of supply and project delays, he said.“If it works, that’s going to be extraordinary, because you’re going to get clients, both nationally and internationally, for something that’s been proven to be buildable at a reasonable cost,” he said. “I think that this announcement is part of the de-risking that can nudge us towards success.”GVH previously announced in October 2024 that it would be working with Velan to manufacture valves for North America’s first small modular reactor initiative at Ontario Power Generation Inc.’s Darlington site.The SMR units at the Darlington site are anticipated to contribute about $38.5 billion to Canada’s gross domestic product over the next 65 years, with 80 per cent of project spending flowing to Ontario companies, according to Ontario Power Generation, citing Signal49 Research (formerly the Conference Board of Canada) figures.“Building on our experience supporting the Darlington New Nuclear Project backed by more than seven decades of nuclear expertise, Velan is uniquely positioned to support GE Vernova Hitachi as a partner of choice in enabling future BWRX-300 deployments in Europe,” said Laurent Pefferkorn, Velan’s executive vice-president, global sales, in the press release.“We have a case study for the Canadian supply chain: a Canadian company that is Ontario owned, that will now be building components for European small modular reactor deployment. That is a win for Ontario. It is a win for Europe,” said Lecce in the video of the signing event. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.