The Canadian government has committed to providing AtkinsRéalis with a loan of up to CAD304 million (USD212 million) over four years to advance the next iteration of Candu reactor technology. Alongside this, additional millions in funding and support have been pledged for nuclear initiatives across Saskatchewan, Alberta, and Ontario.
Jonathan Wilkinson, Minister of Energy and Natural Resources, revealed that a preliminary deal has been struck with AtkinsRéalis to cover up to half the design expenses for a new large-scale reactor fueled by natural uranium – dubbed the Candu Monark – with a ceiling of CAD304 million through a four-year loan. AtkinsRéalis will match this investment. The effort will also involve Atomic Energy of Canada Ltd (AECL), plant operators, and Canada’s wider supply chain to refine and update the Candu framework.
Developed from the 1950s by AECL, a federal Crown entity, the Candu pressurized heavy water reactor design has a rich history. In 2011, AECL transferred its reactor division to SNC-Lavalin’s Candu Energy subsidiary, including an intellectual property licensing deal, though AECL retains ownership of the technology’s core rights. AtkinsRéalis, formerly SNC-Lavalin Group Inc until its 2023 rebranding, serves as the original equipment manufacturer for Candu systems.
In November 2023, AtkinsRéalis introduced the Candu Monark, a 1000 MW Generation III+ reactor boasting the highest capacity among Candu models. The conceptual design wrapped up in September 2024, and the company is now coordinating with Canada nuclear regulator to plan a vendor design review.
