ARC Canada Closes $30M Series A Financing

arc canada

A $30 million Series A financing was closed by ARC Clean Energy Canada, an advanced small modular reactor (aSMR), technology provider based in Saint John, New Brunswick.

Private sector investors and the Province of New Brunswick were among the backers.

This financing will progress the deployment of Canada’s first commercial grid-scale aSMR at the Point Lepreau Nuclear Generating Station (PLNGS) site, owned by the provincial utility, New Brunswick Power (NB Power). This financing also opens the door to further milestones that will allow for additional funding from the province.

Led by President & CEO Mr. William P. Labbe, Jr.., ARC Clean Energy Canada is a clean energy technology company developing an advanced small modular reactor (SMR) offering inherently safe, reliable, and economical carbon-free power that deals with waste for both on-grid and industrial applications.

This technology is a modular 100MW rapid reactor that can be upgraded upon existing nuclear power plants with field-proven safety features. It also has a 20-year refueling cycle.

The company will offer its technology to both industrial and electrical applications to customers, including utilities and governments. NB Power is the launch customer.

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