Velan and GE Vernova Hitachi Nuclear Energy explore Durham Region plant to supply SMR valve components

GE Vernova Hitachi Nuclear Energy (GVH) and Montreal-based Velan Inc. signed a partnership agreement backed by the Ontario government to explore supplying nuclear components for small modular reactor (SMR) projects in Europe. Velan plans to build a new manufacturing facility in Ontario’s Durham Region to produce reactor integral isolation valves (RIIVs) and containment isolation valves (CIVs) for SMRs. Ontario Energy and Mines Minister Stephen Lecce said more than $600 billion in global SMR investment is expected in the decades ahead and linked the initiative to strengthening the province’s supply chain. The government said each new reactor built is expected to bring up to $70 million of new investment into Ontario.