News Formal

Indigenous group in N.B. signs deal with companies behind proposed nuclear reactor

  • 📰 SooToday
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 85%

Business News News

Business Business Latest News,Business Business Headlines

SAINT JOHN, N.B. — A group of First Nations in New Brunswick signed equity agreements today with two companies developing small nuclear reactor technology for the province's electric utility.

The North Shore Mi’kmaq Tribal Council issued a joint statement today with Moltex Energy Canada Inc. and ARC Clean Technology Inc., saying the council's seven First Nations are making financial investments in both Saint John-based companies.

The statement says the communities will receive $2 million in share value from Moltex Energy and $1 million in share value from ARC Clean Technology, but the actual number of shares will depend on future valuations of the companies.The latest report from the Intergovernmental Panel on Climate Change says nuclear power expenses have grown because of construction costs and project delays but agrees it is a strategic option for some countries trying to reduce emissions.

While a handful of small modular reactors are in development in several countries, they are not a widely used source of power generation anywhere in the world.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indigenous group in N.B. signs deal with companies behind proposed nuclear reactorSAINT JOHN, N.B. — A group of First Nations in New Brunswick signed equity agreements today with two companies developing small nuclear reactor technology for the province's electric utility. The North Shore Mi’kmaq Tribal Council issued a joint statement today with Moltex Energy Canada Inc. and ARC Clean Technology Inc., saying the council's seven First Nations are making financial investments in both Saint John-based companies. The statement says the communities will receive $2 million in shar
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Indigenous group in N.B. signs deal with companies behind proposed nuclear reactorSAINT JOHN, N.B. — A group of First Nations in New Brunswick signed equity agreements today with two companies developing small nuclear reactor technology for the province's electric utility.
Source: SooToday - 🏆 8. / 85 Read more »