Nuclear power company Westinghouse Electric and Seaspan ULC signed a memorandum of understanding Thursday to support the expansion of nuclear projects in Canada and around the world.
As nuclear power gains renewed interest as a clean energy source, countries such as Italy, Britain, China and the United States are looking to nuclear technology companies like Westinghouse to help them meet their carbon emissions targets.
Westinghouse said Seaspan, which provides services such as shipbuilding and maintenance, has the potential to produce key components such as pipe spools and steel structures used in its nuclear reactors.
Seaspan’s experience in completing complex manufacturing projects fits well with the needs of large capital projects such as nuclear reactors, Westinghouse said in a statement.
Westinghouse, which is backed by Cameco and Brookfield Renewable Partners, said the acquisition strengthens its commitment to advancing Canada’s nuclear supply chain in support of its global fleet of advanced reactors.
The company is developing the AP1000 reactor technology and the AP300 small modular reactors, which are smaller nuclear reactors that are touted as being less expensive and quicker to deploy than the large models.
