Azincourt Energy Applauds Approval by Federal Regulators to Build Canada's First Small Modular Reactor
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF) welcomes the Canadian Nuclear Safety Commission's approval for Ontario Power Generation to build Canada's first small modular reactor (SMR) at the Darlington Nuclear Generation Station. The project, featuring a BWRX-300 SMR, will be the first in any G7 country.
The plan includes up to four 327-megawatt SMRs capable of powering approximately 900,000 homes with zero-emissions electricity. This development aligns with Canada's nuclear energy expansion, including Nova Scotia's recent lifting of its 45-year uranium exploration ban and federal funding of CAD$74 million for SMR development in Saskatchewan.
The International Energy Agency projects global electricity consumption to rise 4% annually to 2027. To meet net-zero emissions targets by 2050, Canada may need to build 85 SMRs according to RBC. The government has also committed up to $304 million for modernizing CANDU reactors, supporting Canada's position as the world's second-largest uranium producer.
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF) accoglie con favore l'approvazione della Canadian Nuclear Safety Commission per Ontario Power Generation di costruire il primo piccolo reattore modulare (SMR) del Canada presso la centrale nucleare di Darlington. Il progetto, che prevede un SMR BWRX-300, sarà il primo in un paese del G7.
Il piano comprende fino a quattro SMR da 327 megawatt ciascuno, in grado di alimentare circa 900.000 abitazioni con elettricità a zero emissioni. Questo sviluppo è in linea con l'espansione dell'energia nucleare in Canada, inclusa la recente revoca del divieto di 45 anni sull'esplorazione dell'uranio in Nuova Scozia e il finanziamento federale di 74 milioni di CAD per lo sviluppo degli SMR in Saskatchewan.
L'Agenzia Internazionale dell'Energia prevede un aumento del consumo globale di elettricità del 4% annuo fino al 2027. Per raggiungere gli obiettivi di emissioni nette zero entro il 2050, secondo RBC il Canada potrebbe dover costruire 85 SMR. Il governo ha inoltre stanziato fino a 304 milioni di dollari per la modernizzazione dei reattori CANDU, sostenendo la posizione del Canada come secondo maggior produttore mondiale di uranio.
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF) celebra la aprobación de la Comisión Canadiense de Seguridad Nuclear para que Ontario Power Generation construya el primer reactor modular pequeño (SMR) de Canadá en la Central Nuclear de Darlington. El proyecto, que contará con un SMR BWRX-300, será el primero en un país del G7.
El plan incluye hasta cuatro SMR de 327 megavatios, capaces de suministrar electricidad sin emisiones a aproximadamente 900,000 hogares. Este desarrollo está alineado con la expansión de la energía nuclear en Canadá, incluyendo la reciente eliminación de la prohibición de 45 años sobre la exploración de uranio en Nueva Escocia y el financiamiento federal de 74 millones de CAD para el desarrollo de SMR en Saskatchewan.
La Agencia Internacional de la Energía proyecta un aumento del consumo global de electricidad del 4% anual hasta 2027. Para alcanzar las metas de emisiones netas cero para 2050, según RBC, Canadá podría necesitar construir 85 SMR. El gobierno también ha comprometido hasta 304 millones de dólares para modernizar los reactores CANDU, apoyando la posición de Canadá como el segundo mayor productor mundial de uranio.
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF)는 온타리오 전력공사(Ontario Power Generation)가 다링턴 원자력 발전소에 캐나다 최초의 소형 모듈 원자로(SMR)를 건설하는 것을 캐나다 원자력 안전 위원회가 승인한 것을 환영합니다. 이 프로젝트는 BWRX-300 SMR을 특징으로 하며, G7 국가 중 최초가 될 것입니다.
계획에는 각각 327메가와트의 SMR 최대 4기가 포함되어 약 90만 가구에 무공해 전기를 공급할 수 있습니다. 이 개발은 캐나다의 원자력 에너지 확장과 궤를 같이하며, 노바스코샤의 45년간 우라늄 탐사 금지 해제와 서스캐처원에서의 SMR 개발을 위한 연방 정부의 7,400만 CAD 자금 지원이 포함됩니다.
국제에너지기구(IEA)는 2027년까지 전 세계 전력 소비가 연 4% 증가할 것으로 전망합니다. RBC에 따르면 2050년까지 순배출 제로 목표를 달성하려면 캐나다는 85기의 SMR을 건설해야 할 수도 있습니다. 정부는 또한 캐나다가 세계 2위 우라늄 생산국으로서의 입지를 지원하기 위해 CANDU 원자로 현대화에 최대 3억 400만 달러를 투자하기로 했습니다.
Azincourt Energy (TSXV : AAZ, OTCQB : AZURF) se félicite de l'approbation de la Commission canadienne de sûreté nucléaire permettant à Ontario Power Generation de construire le premier petit réacteur modulaire (SMR) du Canada à la centrale nucléaire de Darlington. Le projet, incluant un SMR BWRX-300, sera le premier dans un pays du G7.
Le plan prévoit jusqu'à quatre SMR de 327 mégawatts capables d'alimenter environ 900 000 foyers avec une électricité sans émissions. Ce développement s'inscrit dans l'expansion de l'énergie nucléaire au Canada, notamment avec la récente levée de l'interdiction de 45 ans sur l'exploration de l'uranium en Nouvelle-Écosse et un financement fédéral de 74 millions de CAD pour le développement des SMR en Saskatchewan.
L'Agence internationale de l'énergie prévoit une augmentation annuelle de 4 % de la consommation mondiale d'électricité jusqu'en 2027. Pour atteindre les objectifs de zéro émission nette d'ici 2050, le Canada pourrait devoir construire 85 SMR selon RBC. Le gouvernement s'est également engagé à hauteur de 304 millions de dollars pour moderniser les réacteurs CANDU, soutenant la position du Canada comme deuxième producteur mondial d'uranium.
Azincourt Energy (TSXV: AAZ, OTCQB: AZURF) begrüßt die Genehmigung der Canadian Nuclear Safety Commission für Ontario Power Generation, Kanadas ersten kleinen modularen Reaktor (SMR) im Kernkraftwerk Darlington zu errichten. Das Projekt mit einem BWRX-300 SMR wird das erste seiner Art in einem G7-Land sein.
Der Plan umfasst bis zu vier SMRs mit jeweils 327 Megawatt, die etwa 900.000 Haushalte mit emissionsfreiem Strom versorgen können. Diese Entwicklung steht im Einklang mit der Expansion der Kernenergie in Kanada, einschließlich der kürzlichen Aufhebung des 45-jährigen Uran-Explorationsverbots in Nova Scotia und der Bundesfinanzierung von 74 Millionen CAD für die SMR-Entwicklung in Saskatchewan.
Die Internationale Energieagentur prognostiziert einen jährlichen Anstieg des weltweiten Stromverbrauchs von 4 % bis 2027. Um die Netto-Null-Emissionsziele bis 2050 zu erreichen, könnte Kanada laut RBC 85 SMRs bauen müssen. Die Regierung hat zudem bis zu 304 Millionen Dollar für die Modernisierung von CANDU-Reaktoren bereitgestellt und unterstützt damit Kanadas Stellung als zweitgrößter Uranproduzent der Welt.
- First G7 country to approve SMR construction, positioning Canada as a nuclear innovation leader
- Nova Scotia lifted 45-year uranium exploration ban, opening new opportunities
- Government support through significant funding: CAD$74M for SMR development and CAD$304M for CANDU modernization
- Strong market potential with projected need for 85 SMRs in Canada by 2050
- SMR deployment in Saskatchewan not expected until mid-2030s, indicating long development timeline
- Project success dependent on local communities and First Nations support
- Decision highlights Canada's opportunity to become a world leader in nuclear energy innovation
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2025) - AZINCOURT ENERGY CORP. (TSXV: AAZ) (OTCQB: AZURF) ("Azincourt" or the "Company"), applauds the Canadian Nuclear Safety Commission's recent approval of Ontario Power Generation's ("OPG") plans to build Canada's first small modular reactor ("SMR") at the site of the Darlington Nuclear Generation Station in Clarington, Ontario. The approval grants OPG a license to construct a BWRX-300 Small Modular Reactor at the site, which would serve as a model for future reactor builds within Ontario and across Canada. It would also be the first SMR built in any G7 country.
OPG's full plan includes the construction of up to four of the 327-megawatt SMRs at the Darlington site, which would reliably generate enough zero-emissions electricity to power around 900,000 homes1.
"The approval of the SMR project in Ontario is a milestone not just for Canadian energy security, but also highlights the urgency for governments worldwide to find sustainable energy solutions that can replace fossil fuels while also meeting rapidly rising electricity demands," said Alex Klenman, CEO of Azincourt Energy. "The nuclear energy industry is experiencing a major revival as nations seek to meet their net-zero emissions goals by 2050 while grappling with rising energy demands. As a Canadian uranium exploration company with two advanced Canada-based projects underway, we are acutely aware of the role that uranium and nuclear energy will play as the world's clean energy needs continue to expand."
"We are also pleased to see that Canadian legislators are supportive of finding new domestic sources of uranium, as exemplified by the province of Nova Scotia's recent move to lift its moratorium to ban uranium exploration and mining, which has been in place for 45 years2. Tariffs aside, if Canada continues to find new domestic uranium sources that can be mined safely and with the consideration and support of local communities and First Nations, it has a real chance to be a responsible and ethical world leader in nuclear energy innovation."
According to the International Energy Agency (IEA), factors such as urbanization, increasing global standards of living, the expansion of data centres and the adoption of AI mean that global electricity consumption is expected to rise
SMRs will play a key role in the global nuclear energy revival. A relatively new technology, SMRs can reliably and consistently produce zero-carbon energy while offering improved safety features and a reduced environmental footprint compared to large-scale nuclear reactors. According to a recent report by RBC, Canada will need to build a projected 85 SMRs to reach its net-zero emissions target by 20505. In August 2023, Canada also approved up to CAD
Canada, the world's second largest producer of uranium, has an extensive history of nuclear research, technology and deployment behind it. In March 2025 the Canadian government announced it would provide up to
About Azincourt Energy Corp.
Azincourt is currently conducting an inaugural exploration program at its recently acquired Snegamook uranium deposit in Eastern Canada's Central Mineral Belt, an advanced project which contains known multiple lenses of uranium mineralization over a 300-metre strike length and to a vertical depth of 200 metres, with grades ranging from 225 to 771 ppm U3O8. Some zones contain higher-grade uranium concentrations (e.g.,
The Company is also advancing exploration at its
Sources:
1.) https://www.canada.ca/en/natural-resources-canada/news/2025/03/canada-invests-in-the-next-generation-of-canadian-made-clean-affordable-nuclear-energy0.html
2.) https://www.mining.com/nova-scotia-mining-association-applauds-passage-of-bill-that-could-end-uranium-ban/
3.) https://www.iea.org/news/growth-in-global-electricity-demand-is-set-to-accelerate-in-the-coming-years-as-power-hungry-sectors-expand
4.) https://netzeronuclear.org/news/six-more-countries-endorse-the-declaration-to-triple-nuclear-energy-by-2050-at-cop29
5.) https://thoughtleadership.rbc.com/think-small-how-canada-can-make-small-modular-nuclear-reactors-a-priority/
6.) https://www.canada.ca/en/natural-resources-canada/news/2023/08/government-of-canada-announces-federal-support-for-small-modular-reactor-smr-development-in-saskatchewan.html
7.) https://www.foronuclear.org/en/updates/news/canadian-nuclear-investment/#:~:text=The%20Government%20of%20Canada%20will,and%20use%20uranium%20from%20Saskatchewan.
ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
"Alex Klenman"
Alex Klenman, President & CEO
For further information please contact:
Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com
Azincourt Energy Corp.
1430 - 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
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FAQ
What is the significance of the SMR approval for Azincourt Energy (AZURF)?
How many SMRs is Ontario Power Generation planning to build at the Darlington site?
What is Canada's projected SMR requirement to reach net-zero by 2050?
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