Business
Azincourt Energy Applauds Approval by Federal Regulators to Build Canada's First Small Modular Reactor
Decision highlights Canada's opportunity to become a world leader in nuclear energy innovation ...
About this update from Azincourt Energy Corp
[{"type":"text","content":"Azincourt Energy Applauds Approval by Federal Regulators to Build Canada's First Small Modular ReactorDecision highlights Canada's opportunity to become a world leader in nuclear energy innovationVancouver, British Columbia--(Newsfile Corp. - April 15, 2025) - AZINCOURT ENERGY CORP.  (TSXV: AAZ) (OTCQB: AZURF) (\"Azincourt\" or the \"Company\"), applauds the Canadian Nuclear Safety Commission's recent approval of Ontario Power Generation's (\"OPG\") plans to build Canada's first small modular reactor (\"SMR\") at the site of the Darlington Nuclear Generation Station in Clarington, Ontario. The approval grants OPG a license to construct a BWRX-300 Small Modular Reactor at the site, which would serve as a model for future reactor builds within Ontario and across Canada. It would also be the first SMR built in any G7 country. OPG's full plan includes the construction of up to four of the 327-megawatt SMRs at the Darlington site, which would reliably generate enough zero-emissions electricity to power around 900,000 homes1. \"The approval of the SMR project in Ontario is a milestone not just for Canadian energy security, but also highlights the urgency for governments worldwide to find sustainable energy solutions that can replace fossil fuels while also meeting rapidly rising electricity demands,\" said Alex Klenman, CEO of Azincourt Energy. \"The nuclear energy industry is experiencing a major revival as nations seek to meet their net-zero emissions goals by 2050 while grappling with rising energy demands. As a Canadian uranium exploration company with two advanced Canada-based projects underway, we are acutely aware of the role that uranium and nuclear energy will play as the world's clean energy needs continue to expand.\"\"We are also pleased to see that Canadian legislators are supportive of finding new domestic sources of uranium, as exemplified by the province of Nova Scotia's recent move to lift its moratorium to ban uranium exploration and mining, which has been in place for 45 years2. Tariffs aside, if Canada continues to find new domestic uranium sources that can be mined safely and with the consideration and support of local communities and First Nations, it has a real chance to be a responsible and ethical world leader in nuclear energy innovation.\"According to the International Energy Agency (IEA), factors such ...