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SASKATOON — Uranium company Cameco says it is exploring ways to partner with Terrestrial Energy on possible future deployments of nuclear power plants in North America and around the world.

The two companies have signed a non-binding memorandum of understanding that could see Saskatoon-based Cameco supply uranium, fuel and supplies for Oakville, Ont.-based Terrestrial's Integrated Molten Salt Reactor (IMSR) nuclear power plants.

The companies are also investigating the potential of Cameco's Port Hope uranium conversion facility in southern Ontario for IMSR fuel supply.

Cameco is one of the world’s largest producers of uranium fuel for nuclear power generation, including supplying fuel and fuel assemblies for CANDU reactors in Canada and abroad.

Terrestrial Energy is a nuclear technology company that says it has developed a 50 per cent improvement in the efficiency of nuclear power generation. 

The Terrestrial Energy IMSR power plant is one of three small modular reactor (SMR) power plant designs under consideration for deployment at Ontario Power Generation’s (OPG) Darlington Nuclear Generating Station. Terrestrial says its Oakville operation represents the largest SMR power plant technology development project in Canada. 

This report by The Canadian Press was first published Oct. 13, 2021.

Companies in this story: (TSX:CCO)

The Canadian Press