Mobile Nuclear Reactor Lifts BWXT Stock 8.27% in Canada
A Canadian coalition selects BWXT's BANR microreactor for a mobile nuclear plant in New Brunswick, sending the company's shares up 8.27%.
Prodigy Clean Energy, Pabineau First Nation, and Eel River Bar First Nation have selected the BANR microreactor from BWXT Technologies for a mobile nuclear power plant in Belledune, New Brunswick, Canada.
The plant is designed for a capacity of up to 50 MWe, while the BANR unit has a capacity of 75 MWt and 22 MWe, operating on HALEU TRISO fuel, according to Investing.com via Yahoo Finance Canada.
The Government of New Brunswick signed a letter of intent to purchase the electricity produced, with BWXT and Prodigy aiming for a final agreement targeting plant operation in the early 2030s. The project aims to transport the reactor to the operation site rather than building a large power generation plant in the region.
BWXT shares rose 8.27% to $146.55. The project is part of a Canadian push toward microreactors to supply energy to remote areas off major grids.
What do these terms mean?
Microreactor: A small-scale reactor built in a factory and transported to the operating site, with less capacity than conventional reactors.
Thermal Megawatt (MWt) and Electrical Megawatt (MWe): The former measures the heat produced by the reactor, while the latter measures the actual electricity generated from it.
HALEU TRISO Fuel: A high-containment nuclear fuel designed to withstand higher temperatures and reduce the risk of meltdown.
Letter of Intent: A document expressing the intention of two parties to enter into a contract in the future, and is not a binding contract.
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