October 31, 2023 – The North Shore Mi’kmaq Tribal Council (NSMTC) and its seven First Nation member communities have signed equity agreements with Moltex Energy Canada Inc. (Moltex) and ARC Clean Technology Canada Inc. (ARC)—developers of small modular reactor (SMR) technologies.

“With this investment, we are building a legacy for our youth, as well as our communities and the environment. We are laying the groundwork for a prosperous future and opportunities that can be passed down for years to come,” said Jim Ward, general manager, NSMTC.

NSMTC and its member communities (Oinpegitjoig, Ugpi’Ganjig, Natoaganeg, L’nui Menikuk, Tjipogtotjg, Metepenagiag, Amlamgog) are making financial investments in both Moltex and ARC, via separate agreements, that result in them receiving $2 million in share value from Moltex and $1 million in share value from ARC.

Beyond offering equity ownership opportunities, Moltex and ARC say they are dedicated to “creating additional avenues for the advancement and prosperity of First Nation people in New Brunswick”, including opportunities in training, employment, procurement, and business development.

“We couldn’t be happier to have both NSMTC and its member communities as equity owners in Moltex,” said Rory O’Sullivan, CEO, Moltex. “Taking our partnership to this new level reinforces the strength of our relationship and brings our shared vision for the future into sharper focus.”

Moltex Energy Canada Inc. is developing three technologies: a Stable Salt Reactor-Wasteburner (SSR-W) that uses recycled nuclear waste as fuel; a WAste To Stable Salt (WATSS) process for recycling nuclear waste to produce SSR-W fuel; and GridReserve thermal energy storage tanks, enabling the SSR-W to act as a peaking plant.

ARC Clean Technology Canada Inc. is developing the ARC-100 small modular reactor.