USNIC Key Mover Update

OPG and X-energy Pursuing Clean Energy Opportunities

Deployment of Xe-100 would reduce industrial carbon emissions

Toronto – Ontario Power Generation (OPG) and X-energy have signed a framework agreement to pursue opportunities to deploy Xe-100 small modular reactors (SMRs) for industrial applications in Canada.

Under the agreement, OPG and X-energy will pursue opportunities to deploy Xe-100 advanced reactors in Ontario at industrial sites and identify further potential end users and sites throughout Canada.

The Xe-100 high-temperature gas-cooled reactor optimizes proven technology to enable decarbonization of industrial end use applications. Efficiently combining high-temperature steam and power production, the Xe-100 can directly support heavy industry including oil sands operations, mining applications, and other industrial processes.

Quick facts

• With this new partnership with X-energy, the parties will lead the decarbonization of high temperature industrial applications through the deployment of Xe-100 SMRs.
• X-energy developed and designed its Xe-100 reactor by building and improving on decades of high-temperature gas reactor research, development, and operating experience. This Generation IV reactor is scalable to meet demand, one unit can generate up to 80 megawatts of electricity from 200 megawatts of thermal power. It efficiently produces steam at 565 Celsius and offers highly flexible co-generation options, making it the ideal candidate for decarbonizing multiple industrial processes and supporting end-user power needs.
• Natural Resources Canada’s (NRCan) SMR Action plan says development and deployment of SMRs in Canada could yield up to $19B in total annual economic impact between 2030-2040, creating more than 6,000 new jobs annually across the country.
• Further, Canada is leading the way on global SMR opportunities driven by climate change mitigation and energy security imperatives – NRCan’s SMR action plan shows an estimated global value of $150B per year by 2040 in the following areas:
• To replace coal-fired generation;
• To provide heat and power for mines;
• To provide steam for heavy industry; and
• For remote island nations and off-grid communities.

Quotes

“As part of our climate change plan, we pledged to assist with efficient economy-wide decarbonization,” said OPG President and CEO Ken Hartwick. “Working with X-energy on the Xe-100, we can help heavy industry reach climate change goals by using clean, safe electricity and high temperature steam efficiently produced through evolutionary nuclear technology to power their production facilities and enable decarbonization of their industrial processes.”

“X-energy Canada is deeply committed to addressing our clean energy challenges in Ontario and across Canada,” said Katherine Moshonas Cole, President of X-energy Canada. “We are delighted to be working with OPG’s experienced team to advance the deployment of the Xe-100 technology. Through this framework, we look forward to demonstrating how our advanced SMRs can accelerate the decarbonization of industrial operations in Canada, which is critical to meeting our provincial and national climate change goals.”

“Ontario continues to lead in nuclear innovation and clean energy solutions,” said Todd Smith, Ontario Minister of Energy. “Our early investments in SMR technology and our ongoing collaborations with governments across Canada and the globe are reducing emissions while driving economic growth, jobs and exciting opportunities for our province and country.”

About Ontario Power Generation

As a climate change leader and the largest electricity generator in the province, OPG and its subsidiaries are helping lead the charge to a post-carbon economy.

OPG is leading the way on new nuclear generation. In November 2021, OPG announced it would work together with GE Hitachi Nuclear Energy to deploy a BWXR-300 SMR at the Darlington new nuclear site, the only site in Canada currently licensed for a new nuclear construction, to be completed by the end of this decade.  

About X-Energy

X-energy is a nuclear energy innovation company focused on the development of next-generation, zero-carbon nuclear energy. To learn more about the sustainability, economics, reliability, and safety of the Xe-100 reactor, please visit www.x-energy.com.

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For further information, please contact:

Ontario Power Generation

(416) 592-4008 or 1 (877) 592-4008

Follow us @opg

X-energy

Robert McEntyre, Corporate Communications Director

rmcentyre@x-energy.com or (770) 548-5571

Follow us at @xenergynuclear

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