EDMONTON, Alberta, CANADA & ROCKVILLE, Maryland, USA—January 30, 2023 – X-Energy Canada, Inc. (“X-energy Canada”), a subsidiary of X-Energy Reactor Company, LLC (“X-energy” or the “Company”), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, and Invest Alberta Corporation (“IAC”) have signed a memorandum of understanding (“MOU”) to develop economic opportunities supporting the potential deployment of the Xe-100 small modular reactor (“SMR”) within the province.
Joint efforts will include the identification of supply chain opportunities, engagement with local and provincial governments, and strengthening of relationships with Indigenous communities interested in equity participation in Xe-100 projects. Under the MOU, IAC will also support X-energy’s efforts to establish a divisional office to help advance these local efforts.
The Xe-100 is a high temperature gas-cooled reactor developed on decades of research, development, and operating experience. Facilities utilizing these SMRs will be scalable to meet demand, with one unit generating up to 80 megawatts of electricity from 200 megawatts of thermal power, and are designed for high reliability and 95% availability. This clean energy solution can directly support heavy industry, including oil sands operations, and petrochemical and other industrial processes, through a combination of high-temperature, 565 degrees Celsius, steam and electric power production.
X-energy estimates that the delivery of a four-unit plant in Alberta would create up to 3,800 full-time jobs in Canada, most of which would be located in Alberta. Direct and indirect jobs in Alberta would include local contractors, service providers, supply chain and trades.
“Alberta’s energy industry is vital to recovering and sustaining a thriving Canadian economy,” said Katherine Moshonas Cole, President at X-energy Canada. “X-energy is ready to support Alberta’s critical energy, chemical and mining industries to affordably achieve the carbon emissions reductions needed, both on and off the grid. A successful early deployment of our Xe-100 SMR technology in Alberta will better position the province to seize the economic opportunities that our technology brings; opportunities that will deliver sustainable economic benefits and will contribute to the diversification and health of Alberta’s economy.”
The Government of Alberta is one of four provincial participants of the Strategic Plan for the Deployment of SMRs, which maps out the path forward to capitalize on the benefits of adopting advanced reactors, including the Xe-100.
Established as a crown corporation of the Government of Alberta, IAC promotes Alberta as an investment destination of choice to investors internationally, and attracts high-value and high-impact investments to Alberta, Canada. With team members strategically positioned in key markets around the world, the organization works to break down barriers so innovative businesses, like X-energy, can start up, scale up, and succeed without limits.
“X-energy Canada’s interest in expanding its presence in Alberta represents progress toward the transition to a diversified lower carbon economy,” said Rick Christiaanse, CEO of IAC. “With this MOU in place, Invest Alberta is proud to play a role in advancing the economic benefits, job opportunities, and clean energy opportunities that are key to securing the province’s future.”