AtkinsRéalis signs new execution contract for Darlington Small Modular Reactor Project

MONTREAL, May 28, 2025 /CNW/ - Candu Energy Inc., an AtkinsRéalis company [AtkinsRéalis Group Inc.] (TSX: ATRL), has been awarded a $450 million execution contract by Ontario Power Generation (OPG), for the first of four planned small modular reactor (SMR) units at the Darlington New Nuclear Project. The 300-megawatt BWRX-300 small modular reactor being delivered for OPG in Durham Region, east of Toronto, will supply enough power for 300,000 homes.¹

AtkinsRéalis is providing OPG with expertise for the engineering of the SMR. This includes project management, licensing, engineering, design, procurement, construction support and commissioning, as well as digital delivery capabilities in both the nuclear island and balance of plant scopes for the project.

"As a world-class engineering services and nuclear organization, we are advocates for the role of SMRs in the energy mix to create stable, affordable, and reliable power grids," said Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. "Our involvement in the G7's first grid-scale SMR and Canada's first nuclear new build in roughly 30 years reaffirms our leading position in the global nuclear energy market, for both large and small reactor technologies. Our trusted relationship with OPG supporting hydropower assets and refurbishing CANDU reactors at Darlington and Pickering will support this project's successful completion by 2030."

AtkinsRéalis has been the architect-engineer on the Darlington New Nuclear Project alliance team since 2023. The Company is working alongside GE Vernova Hitachi Nuclear Energy and Aecon Kiewit Nuclear Partners. The site preparation work undertaken under an earlier validation phase contract has been completed on time and on budget. The Canadian Nuclear Safety Commission has issued a license to construct the SMR, and the Ontario government has also given its final approval for construction of the first of four planned units at the site.

"AtkinsRéalis is a long-time trusted partner to OPG, including on the on-time, on budget Darlington Refurbishment Project," said Nicolle Butcher, OPG President and CEO. "We will draw on our shared experience for similar success as we build the first small modular reactor in the G7 at the Darlington New Nuclear Project site."

"Ontario's power demand is expected to surge by 75% by 2050² and we'll need all sources of cleaner power to meet the need, including large and small nuclear reactor technology," said Joe St. Julian, President, Nuclear, AtkinsRéalis. "Together with our alliance partners, we will ensure Canada continues to lead the G7 in advancing the use of SMR technology, as AtkinsRéalis also continues to support international SMR projects in the UK, US, and Poland."

About AtkinsRéalis   

Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital.  News and information are available at www.atkinsrealis.com or follow us LinkedIn. 

About AtkinsRéalis' Nuclear Sector

AtkinsRéalis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRéalis solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. AtkinsRéalis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRéalis' CANDU technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material. Learn more on our Nuclear market page. 

Forward-Looking Statements

References in this press release to the "Company", "AtkinsRéalis", "we", us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies constitute "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "estimates", "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions or results could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company's 2024 annual management disclosure & analysis ("2024 MD&A") (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com under the "Investors" section. If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the 2024 MD&A (particularly in the section entitled "Risk and Uncertainties"), as may be updated from time to time in the Company's interim quarterly MD&A, are not exhaustive. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

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SOURCE AtkinsRéalis