Federal government invests in small nuclear reactors to help it meet net-zero 2050 target
The federal government says it’s investing $20 million in the nuclear industry to help Canada meet its target of net-zero greenhouse gas emissions by 2050. The investment in Oakville Ontario’s Terrestrial Energy is meant to help the firm bring small modular nuclear reactors to market. “By helping to bring these small reactors to market, we are supporting significant environmental and economic benefits, including generating energy with reduced emissions, highly skilled job creation and Canadian intellectual property development,” said Innovation Minister Navdeep Bains in a media statement. Small modular reactors — SMRs — are smaller than a conventional nuclear power plant and can be built in one location before being transported and assembled elsewhere.