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Or sign-in if you have an account.AtkinsRealis is currently developing a nuclear reactor model, the Candu Monark, that could potentially reach about 1,000 megawatts. Photo by Bruce Power/PostmediaThe surge in new data centres for artificial intelligence is translating into growth for the United States electricity sector, and Canadian nuclear company AtkinsRealis Group Inc. wants in.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 AccountorThe Montreal-based company has filed a notice of intent with the U.S. Nuclear Regulatory Commission to get certification of its Enhanced Candu Six nuclear reactor. Chief executive Ian Edwards said the company has been in talks with U.S. utilities and hyperscalers.“It’s becoming increasingly difficult to find energy on the grid, so they’re looking to develop power sources for themselves,” he said. “We need to be ahead of this in terms of getting the regulatory approval in place.”Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.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 Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againData centres, electric vehicles and air conditioning will push power demand sharply higher over the next few decades. U.S. data centre requirements for electricity are expected to nearly triple by 2035 to over 100 gigawatts, according to a BloombergNEF report.BloombergNEF says solar and wind will be the leaders in global electricity production by 2050, but nuclear will still grow. In the U.S., cumulative installed nuclear capacity should increase 58 per cent to 164 gigawatts by then, according to its forecast.But U.S. President Donald Trump’s ambitions go much further, with the goal of facilitating the expansion of nuclear energy capacity to as much as 400 gigawatts by 2050. His administration is seeking to jumpstart the nuclear industrial base by improving the efficiency of licensing advanced nuclear reactors, among other measures.The Nuclear Regulatory Commission has made changes to lower the burden for applicants and speed up approvals of new reactor designs within 18 months.“We are going to be the first one with a proven design, a licensed design, to go through that process, and we think we could get there probably in 12 to 14 months,” said Joe St. Julian, AtkinsRealis’ president of nuclear. A data centre campus. Photographer: Jason Alden/BloombergAfter that, the company’s executives think they could build quite rapidly. An EC6 700-megawatt reactor was constructed in China within a five-year timeframe, according to chief executive Edwards. “It’s become fairly competitive even with gas from a time perspective,” he said. “It’s very competitive on a price perspective too, because it’s not a first of a kind.” The Candu technology uses natural uranium, and not more expensive enriched uranium.Shares of AtkinsRealis got a boost Monday after the Canadian government announced a strategy to enable construction of as many as 10 large-scale nuclear reactors. It also includes a commitment to modernizing the design of Candu reactor technology, which the Canadian government owns and to which AtkinsRealis is the exclusive licensee.AtkinsRealis is currently developing a nuclear reactor model, the Candu Monark, that could potentially reach about 1,000 megawatts and compete with the AP1000 technology from rival Westinghouse Electric Co.The firm’s nuclear unit represented slightly more than 20 per cent of its total revenue at $2.3 billion last year, and is expected to reach as much as $3 billion in 2027. “We can definitely see this evolving where it could be 40 per cent of the business,” Edwards said. 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.