Ontario-based nuclear tech company Terrestrial Energy has received a $20 million commitment from the federal government to aid in the development of the company’s small modular reactor (SMR) technology. According to BetaKit, Minister of Innovation Navdeep Bains and Minister of Natural Resources Seamus O’Regan announced the funding on Thursday. In accepting the investment, the company has committed to creating and maintaining 186 jobs and creating 52 CO-OP positions nationally. In addition, Terrestrial Energy is spending at least another $91.5 million in research and development.
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