MARKHAM, Ontario (October 10, 2024) – GE Vernova’s Nuclear division (NYSE: GEV), in collaboration with GE Hitachi Nuclear Energy (GEH), has announced the selection of Velan Inc., a Montreal-based company, to provide engineering support and manufacture valves for the first BWRX-300 small modular reactor.

“Our partnership with Velan further strengthens the resilient and skilled Canadian nuclear supply chain, delivering significant economic benefits to the country,” stated Sean Sexstone, Executive Vice President, Advanced Nuclear, GEH. “This also positions Velan as a key supplier as we roll out our technology on a global scale. We will continue to explore opportunities to collaborate with Canadian suppliers to support the deployment of the BWRX-300.”

“Velan’s involvement in this project underscores our decades of leadership in the nuclear energy sector,” commented James A. Mannebach, Chairman and CEO of Velan Inc. “As we approach our 75th anniversary in 2025, we are exceptionally well-positioned to support this pivotal project and help shape the future of Canada’s nuclear energy landscape through Small Modular Reactor technology.”

GEH, in partnership with Ontario Power Generation, is developing the first BWRX-300 reactor at OPG’s Darlington facility. Initial site preparation is completed, with construction set to begin in 2025 and commercial operations expected by late 2029. A total of four 300 MW units are planned for the Darlington site. OPG’s decades of experience and solid track record in delivering on-time, on-budget nuclear refurbishments, combined with GEH’s nuclear expertise, sets the stage for success in advancing the energy landscape in other regions.

The BWRX-300 is a cornerstone of GE Vernova’s leadership in the energy transition. Besides aiding customers in meeting decarbonization targets, the BWRX-300 is designed to lower construction and operating expenses. Specifically, the BWRX-300 integrates existing fuel, simplifies plant design, uses proven components, and is based on a reactor design certified by the NRC.

About GE Vernova

GE Vernova (NYSE: GEV) is a globally focused energy company with specialized segments in Power, Wind, and Electrification, supported by accelerator businesses. Drawing on over 130 years of experience addressing the world’s challenges, GE Vernova is uniquely positioned to lead the energy transition, working to electrify the world while reducing its carbon footprint. GE Vernova helps customers power economies and provide essential electricity that impacts health, safety, security, and quality of life. GE Vernova’s headquarters are in Cambridge, Massachusetts, with approximately 75,000 employees across more than 100 countries. Guided by its purpose, “The Energy to Change the World,” GE Vernova’s technology helps create a more affordable, reliable, sustainable, and secure energy future.

GE Vernova’s Nuclear division, through its global alliance with Hitachi, is a leading provider of nuclear fuel bundles, services, and advanced nuclear reactor designs. Technologies include boiling water reactors and small modular reactors, such as the BWRX-300, one of the most straightforward yet innovative boiling water reactor designs. GE Vernova’s Nuclear fuel business, Global Nuclear Fuel (GNF), is a global leader in providing boiling water reactor fuel and related engineering services. GNF is a joint venture led by GE Vernova and Hitachi, Ltd., and operates primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

GE Vernova’s mission is embedded in its name—retaining the legacy “GE” as a symbol of quality and innovation, while “Ver” (from “verde”) represents Earth’s lush ecosystems, and “Nova,” from the Latin “novus,” signifies a new, innovative era of low-carbon energy.

Forward-Looking Statements

This document contains forward-looking statements, referring to future events that are inherently uncertain. These statements often relate to GE Vernova’s expected future business and financial performance, product performance, the impact of services, and the results they may produce. Such statements often include terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” These forward-looking statements address matters that, by their nature, involve uncertainties, such as memoranda of understanding and the anticipated impact of relationships formed, proposals for contracts and projects, government review processes, investments, projects and their expected outcomes, and the effects of macroeconomic and market conditions, volatility in the global supply chain, and the world economy.

Source