Marvel Subsidiary New Marvel Energy To Focus on SMR Energy Applications for Land and Fuel

Rhea-AI Summary

Marvel Discovery Corp. (TSX-V:MARV) has announced the establishment of New Marvel Energy, focusing on design studies for standardized nuclear fuel to power small modular reactors (SMRs) for land and energy, including space flight. The SMR market is projected to reach $150B globally by 2040. Canada could see a $5.3B market share, with several provinces pursuing SMR projects. The government is investing $21.6M in Westinghouse Electric Canada to expand SMR technologies, enhancing energy independence while aiming for low-carbon solutions.

Positive

• Launch of New Marvel Energy to focus on SMR technology.
• Projected $150B global SMR market by 2040 indicates significant growth potential.
• Canadian government investment of $21.6M in SMR technology supports industry development.
• SMRs provide a viable solution for rural electrification and energy independence.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 31, 2022 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); (the "Company") is pleased to announce New Marvel Energy a wholly owned subsidiary to the Corporation is moving ahead on a design study for standardized nuclear fuel for small modular nuclear reactors (SMR) for use in land and energy including long range space flight.

Canada has one of the most promising markets for SMR technology, the potential value of for SMRs in Canada is valued at $ 5.3B by 2040, globally the SMR market is much bigger at $150B by 2040. Typically, SMRs have a power capacity of 300MW(e) per unit making it ideal as it produces large amounts of low to no carbon electricity.

• Small, a fraction of the size of conventional nuclear power reactors.
• Modular, as components can be factory assembled and transported to a location for assembly.
• Reactors, harnessing nuclear fission to generate heat to produce energy.

One of the challenges to accelerating access to energy is infrastructure due limited grid coverage in rural areas, costs associated to grid connection for rural electrification makes SMRs one of the only viable solutions available. The Canadian government through its Strategic Investment Fund is focusing efforts in the sector investing in its third SMR technology company at USD$ 21.6M in Westinghouse Electric Canada to support its eVinci microreactor. Four provinces; Saskatchewan, New Brunswick, Ontario, and Alberta have pushed ahead with plans to build small reactors to supply power. Conventional reactors deliver 1000 megawatts of energy, SMRs generate between 200-300 megawatts enough to power about 300,000 homes. Canada's Athabasca has the ability to ensure Canadian's energy independence and is uniquely positioned to provide uranium to fuel SMRs.

"As our government moves swiftly with our green economic recovery, we are laying the foundation for a better and more prosperous climate-oriented future. Westinghouse's innovative technology will help deliver cleaner energy sources across Canada, especially in remote communities. This investment will play a critical role in fighting climate change, building on Canada's global leadership in SMRs and securing

Jobs in Ontario's energy sector." - The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.

"Canada must rapidly develop and deploy low-carbon energy technologies in order to meet our environmental and economic objectives. Small modular reactors provide an opportunity to generate non-emitting energy for communities while attracting investments in Canadian businesses and creating jobs for Canadian workers." - The Honourable Jonathan Wilkinson, Minister of Natural Resources.

The Company is also working with researchers to complete a design study for TRISO which stands for TRI-Structural ISOtropic fuel. Each Triso particle is made up of uranium carbon and oxygen fuel kernel. The Kernel is encapsulated by three layers of carbon -and ceramic based materials that prevent radioactive fission products.

These particles are incredibly small (about the size of a poppy seed) and very robust. TRISO fuels are structurally more resistant to neutron irradiation, corrosion, oxidation, and high temperature. The triple coated particle acts as vault as its own containment system. TRISO particles cannot melt in a reactor and can handle extreme heat due to their resistance to melting, making it an ideal fuel for space flight.

References:

SMR Roadmap - Canadian Small Modular ReactorSMR Roadmap | Canadian Small Modular Reactor

https://www.canada.ca/en/innovation-science-economic-development/news/2022/03/government-of-canada-invests-in-small-modular-reactor-technology-to-help-transition-canada-to-net-zero-with-cleaner-sources-of-energy.html

About Marvel Discovery Corp.

Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:

• Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook - Au Prospects)
• Atikokan, Ontario (BlackFly - Au Prospect)
• Elliot Lake, Ontario (East Bull - Ni-Cu-PGE Prospect)
• Quebec (Duhamel -Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
• Prince George, British Columbia (Wicheeda North - Rare Earth Elements Prospect)

The Company's website is: https://marveldiscovery.ca/

ON BEHALF OF THE BOARD

Marvel Discovery Corp.

"Karim Rayani"

Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: k@r7.capital

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Marvel Discovery Corp.

View source version on accesswire.com:
https://www.accesswire.com/695423/Marvel-Subsidiary-New-Marvel-Energy-To-Focus-on-SMR-Energy-Applications-for-Land-and-Fuel

FAQ

What is the focus of New Marvel Energy under Marvel Discovery Corp.?

New Marvel Energy is focusing on design studies for standardized nuclear fuel for small modular reactors (SMRs) aimed at land and energy use.

How large is the projected market for small modular reactors (SMRs) in Canada by 2040?

The SMR market in Canada is projected to be valued at $5.3 billion by 2040.

What investment has the Canadian government made towards SMR technology?

The Canadian government has invested $21.6 million in Westinghouse Electric Canada to support SMR technology development.

What are the benefits of small modular reactors (SMRs)?

SMRs provide low to no carbon electricity, are modular for easy assembly, and can efficiently power remote communities.

What role does TRISO fuel play in Marvel Discovery Corp.'s energy strategy?

TRISO fuel, which is resistant to high temperatures and neutron irradiation, is being studied for its use in small modular reactors, including applications in space flight.