Bruce Power, General Fusion, and Nuclear Innovation Institute Sign Agreement to Advance a Net-Zero Future
Partnership will progress fusion energy in Clean Energy Frontier region of Bruce, Grey and Huron.
For Immediate Release
February 2, 2022
ONTARIO, Canada (February 2, 2022): Bruce Power, General Fusion, and the Nuclear Innovation Institute (NII) have entered into a Memorandum of Understanding (MOU) to collaborate on accelerating the delivery of clean fusion power in Canada.
Together, the organizations will evaluate potential deployment of a fusion power plant in Ontario, including in the tri-county Clean Energy Frontier region of Bruce, Grey and Huron. The partners will build on existing clean energy technologies, skills, and expertise in the region to develop a go-forward strategy. They will also lead stakeholder and public outreach activities to raise awareness of the transformative potential of powering Canadian homes, businesses, and industry with zero-carbon, reliable, and affordable fusion energy.
British Columbia-based General Fusion is a global leader in fusion energy technology development. To confirm the performance and economics of its Magnetized Target Fusion technology at a power-plant-relevant scale, General Fusion is building a Fusion Demonstration Plant, which is scheduled to be operational in 2025. The project puts the company on course to bring clean fusion energy onto the world’s energy systems by the early 2030s.
“This landmark MOU provides a framework in which Canada’s energy leaders can benefit from each other’s technology innovations and expertise to lead the way in adopting fusion power in Ontario and across Canada,” said Christofer Mowry, CEO, General Fusion. “We look forward to advancing this partnership to help meet Canada’s climate targets and the increasing electricity needs of Canadians.”
For Bruce Power, the MOU represents one way the company is looking to advance new clean energy technologies.
“In order to achieve a net-zero future here in Ontario, and Canada, we need to continue expanding the clean electricity production of our existing facilities and will need innovation as part of the future,” said Mike Rencheck, President and CEO, Bruce Power. “Our partnership will explore these innovations and leverage the established capability in this region as a home to new technologies that will contribute to a carbon-free future.”
“As we seek innovative solutions to combat climate change, the tri-county region of Bruce, Grey and Huron is well positioned to build on its existing strengths as the Clean Energy Frontier,” said Bruce Wallace, President and CEO, Nuclear Innovation Institute. “NII’s Clean Energy Frontier program has a network of more than 60 clean energy companies in the tri-county region who are committed to advancing Canada’s net-zero goals.”
About Bruce Power
Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable, low-cost nuclear power to families and businesses across the province and life-saving medical isotopes across the globe. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram and YouTube.
For more information, contact:
- John Peevers
- Phone: 519-361-6583
- john.peevers@brucepower.com
About General Fusion
General Fusion is pursuing a fast and practical approach to commercial fusion energy and is headquartered in Richmond, Canada. The company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers. Learn more at www.generalfusion.com.
General Fusion Media Relations:
- media@generalfusion.com
- Phone: 1-866-904-0995
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About NII
The Nuclear Innovation Institute (NII) is an independent, not-for-profit organization that provides a platform for accelerating the pace of innovation in the nuclear industry. NII’s goal is to shape a Canadian nuclear industry that embraces new thinking, new technologies and new lines of business that play a central role in the global shift to a low-carbon future. Learn more at www.nuclearinnovationinstitute.ca.
About Braemar Energy Ventures
Founded in 2003, Braemar Energy Ventures is a leading venture capital firm focused on investing in transformative energy-tech and related companies contributing to global sustainability and combating climate change. Using sector expertise and experience, Braemar aims to be an engaged partner with its portfolio companies to best help them navigate the path to creating significant global impact. For more information, visit braemarenergy.com.