The Ontario government is investing $19.5 million to help establish the new Center for Fusion Energy.
With the Center for Fusion Energy, the Ontario government hopes it will accelerate innovation in the growing fusion energy sector, ensuring Ontario stays at the forefront of research. The center will also facilitate new academic and industry partnerships, create new hands-on educational opportunities and stimulate economic and research activity across the province.
Ontario is home to over 75,000 workers in the nuclear supply chain, providing a strong workforce for fusion energy development.
If a fusion energy plant is constructed in Ontario, it will result in up to 63,000 new jobs by 2050, said a provincial statement.
Tritium Production
In September, the Ontario government signed an agreement with the United Kingdom Atomic Energy Authority (UKAEA) Group for OPG to work toward supplying tritium to the UKAEA – a critical fuel for nuclear fusion.
In September, the Ontario government invested $18 million to expand capacity at the McMaster Nuclear Reactor. Canada’s largest nuclear research facility and one of the world’s top suppliers of life-saving medical isotopes.
Ontario has almost all of the world’s commercial tritium which serves as the key fusion fuel for nearly all fusion reactor designs. If nuclear fusion energy is commercialized, it is estimated that economic benefits to Canada could be worth up to $523 billion by the year 2100.
Private-Public Partnership
The Centre is being developed in partnership with the federal government, the Stellarex Group Limited, Atomic Energy of Canada Limited (AECL), and Ontario Power Generation (OPG). The federal government, through AECL, is investing $33 million and Stellarex intends to contribute up to $39 million to the Centre. Ontario entered into a memorandum of understanding with the OPG, who will be responsible for overseeing all aspects of the project on behalf of the province.
This investment supports Energy for Generations, the government’s integrated energy plan to ensure Ontario has clean, reliable and affordable energy that will power new homes and hopefully drive the strongest economy in the G7. The government states that the plan is not only meeting the demands of today, but it is protecting jobs, supporting workers and powering economic growth for generations to come.
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