Ultra Safe Nuclear Corp. announced it intends to sell its assets under Chapter 11 of the U.S. Bankruptcy Code
Ultra Safe Nuclear Corp., a startup that had planned to build a small nuclear reactor in Ontario in partnership with two of Canada ’s most prominent nuclear companies, announced it intends to sell its assets under Chapter 11 of the U.S. Bankruptcy Code.
Ottawa-based Global First Power, one of UNSC’s subsidiaries, had proposed to construct a five-megawatt nuclear reactor marketed by UNSC, the Micro Modular Reactor , at Chalk River Laboratories in Deep River, Ont., along the shore of the Ottawa River. It had been billed as the first commercial deployment of an SMR in Canada, as well as the country’s most advanced SMR project, and was to enter service by 2026.
“Prior to USNC’s bankruptcy filing, OPG made a mutually agreeable decision to transfer its interest in GFP to USNC,” OPG spokesperson Neal Kelly wrote in a statement. “USNC is now solely responsible for the company and the Chalk River Project.”
Reactor Usnc Project Canada Company Smr Process UNSC Oak Ridge MMR
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