Montreal: March 5, 2025– Candu Energy Inc., an AtkinsRéalis company, welcomes the news from the Government of Canada that it is loaning up to $304 million over four years to AtkinsRéalis on the next-generation development of Canadian-owned CANDU® nuclear technology for potential deployment in Canada and export overseas. The announcement was made today in Cambridge, Ontario by the Honourable Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources. Joining him was AtkinsRéalis President & CEO, Ian L. Edwards.
“We are honoured to have the full faith and confidence of the Government of Canada in continuing our development of proven home-grown CANDU technology,” commented Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. “For over a decade, we have been the proud steward of CANDU technology, successfully meeting the world’s growing low carbon energy needs. With our CANDU-based supply chain partners, we have serviced, life-extended and refurbished CANDU nuclear reactors on time and on budget and advanced the prospects for new CANDU reactors. The federal government’s decision today, to invest in the further development of CANDU technology, an evolution of the proven Darlington reactor model, will enable us to continue this important work already underway with our utility partners. Advancing CANDU technology creates economic value for the country and Canadians, ensures energy security at this critical time, improves health outcomes through the creation of more cancer-fighting isotopes, builds stronger and more resilient relationships with Indigenous peoples, workers and communities, and above all, maintains Canada’s status as a Tier-1 nuclear nation.”
The preliminary agreement between the Government of Canada and AtkinsRéalis, the exclusive licensee for CANDU technology which remains owned by the Government of Canada via Atomic Energy of Canada Limited, will see both sides co-finance up to half of the design costs, to a maximum of $304 million each.
“CANDU reactors maintain an almost entirely Canadian-made, Canadian-designed supply chain through a consortium of Canadian companies, and they provide good-paying, long-lasting, and sustainable jobs in manufacturing for Canadians. They are also fuelled by uranium mined in Saskatchewan without the need for enrichment. As countries look to secure safe sources of clean energy, demand for Canadian nuclear is growing. The Government of Canada is acting now to modernize Canadian-owned CANDU technology, which will provide a viable, cost-effective design in support of the expansion of nuclear energy capacity in Canada and internationally,” said Minister Wilkinson.
CANDU Technology: Made in Canada, Owned by Canadians
There are currently 17 CANDU design nuclear reactors operating in Canada: 16 in Ontario and one in New Brunswick. Further CANDU units operate in South Korea, China, Argentina, and Romania. Romania announced in late 2024 that they would purchase a further two CANDU reactors for their existing Cernavoda site.1
CANDU technology was developed in Canada and allowed the country to become only the second ever to develop a power-producing nuclear reactor technology. It was specifically designed to reduce reliance on foreign nations for its operation and components: from its lack of a large pressure vessel in favour of domestically produced pressure tubes, to its status as the only reactor in the world that does not require enriched uranium to run, given the absence of enrichment facilities in Canada. The CANDU supply chain is 85% Canadian2, supporting 89,000 well-paying, secure, and predominantly unionized jobs in the country.3 Last year, AtkinsRéalis hired over 750 people at Candu Energy, and placed over $1 billion in purchase orders to the CANDU supply chain within Canada.
A 2024 independent report conducted by the Conference Board of Canada showed that the manufacturing, engineering, and construction phase of four CANDU units would generate more than $41 billion of GDP impact for Canada and equivalent to over 20,000 full time, well-paying jobs and over 324,000 person-years of employment, as well as an additional ~$50 billion of GDP impact during the operation phase. Such a power plant would sustain 3,500 full-time equivalent jobs per year over its 70-plus year operating life. This is on top of $29 billion in additional tax revenue across municipal, provincial and federal governments over the life of such a project.4
“We firmly believe that CANDU technology, as Canada’s only domestically developed large scale nuclear technology, offers a solution to meet the dual demands of Net Zero and energy security; whether deployed in Canada, or for allied countries overseas,” said Joe St. Julian, President, Nuclear, AtkinsRéalis. “It’s a proven, low-cost, world-class technology with some of the highest reliability factors and a decades-long global track record of on time and on budget performance. More than that, it’s a national treasure proudly owned by Canadians.”
About AtkinsRéalis
Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at www.atkinsrealis.com or follow us LinkedIn.
About AtkinsRéalis’ Nuclear Business
AtkinsRéalis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRéalis solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. AtkinsRéalis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRéalis’ CANDU technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material. Learn more on our Nuclear market page.
1 AtkinsRéalis, https://www.atkinsrealis.com/en/media/press-releases/2024/2024-11-15
2 AtkinsRéalis data
3 Canadian Nuclear Association, https://cna.ca/2024/09/24/canadian-nuclear-industry-a-powerhouse-of-job-creation-and-economic-growth/
4 Conference Board of Canada, https://www.conferenceboard.ca/insights/economic-impacts-of-the-candu-monark-nuclear-reactor/
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