![\"0618](\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/06\/bf6942fb6f035543891a16d5b3596e06.jpeg\")
Velan Inc., a leading manufacturer of industrial valves, plans to build a new manufacturing facility in Durham Region in the eastern end of the Greater Toronto Area to support SMR technologies. (Credit: NurPhoto\/Getty Images) <\/p>\n Velan Inc., a leading manufacturer of industrial valves, plans to build a new manufacturing facility in Durham Region in the eastern end of the Greater Toronto Area to support SMR technologies. (Credit: NurPhoto\/Getty Images) <\/p>\n
The Ontario government says GE Vernova Hitachi Nuclear Energy (GVH) and Montreal-based Velan Inc<\/a>. have signed a partnership agreement to explore opportunities to deploy nuclear component<\/a>s for small modular reactor<\/a> (SMR) projects in Europe<\/a>.<\/p>\n GVH, a provider of advanced reactors<\/a>, fuel and nuclear services, was created in an alliance between multinational conglomerate General Electric Co. and Japan\u2019s Hitachi Ltd.<\/p>\n \u201cWith more than $600 billion in global SMR investment expected in the decades ahead, our government is firing up the Ontario supply chain<\/a>, helping create good-paying jobs for Canadians,\u201d Stephen Lecce, Ontario\u2019s minister of energy and mines, said in a press release on Wednesday.<\/p>\n Velan, a manufacturer of industrial valves, plans to build a new manufacturing facility<\/a> in Durham Region in the eastern end of the Greater Toronto Area to support SMR technologies.<\/p>\n This \u201cis another \u2026 commitment of the company, because we have given them long-term predictable investment (funding), we\u2019re building 16,000 megawatts,\u201d Lecce said in a video of the agreement signing event in Paris on Wednesday.<\/p>\n This facility would be responsible for manufacturing reactor integral isolation valves and containment isolation valves, which are pieces of safety equipment for SMRs. The government expects each new reactor built to bring up to $70-million worth of new investment into Ontario.<\/p>\n SMRs\u00a0are a class of nuclear power reactors<\/a> that\u00a0have\u00a0a power capacity of up to 300 megawatts per unit, which is about a third of the size of a full nuclear reactor<\/a> used for power generation, said Laurent Karim B\u00e9land, an associate professor of mechanical and materials engineering at Queen\u2019s University in Kingston, Ont.<\/p>\n He called the partnership between Velan and GVH \u201ca win-win relationship\u201d since Ontario has already built an expertise and industrial base for this technology while working with regulators.<\/p>\n This deal is particularly important for nuclear supply chains, which come with plenty of regulatory requirements, he said, adding that European reactors have often run into regulatory issues with their supply chains, which can cause the risk of supply and project delays.<\/p>\n \u201cIf it works, that\u2019s going to be extraordinary, because you\u2019re going to get clients, both nationally and internationally, for something that\u2019s been proven to be buildable at a reasonable cost,\u201d he said. \u201cI think that this announcement is part of the de-risking that can nudge us towards success.\u201d<\/p>\n GVH previously announced in October 2024 that it would be working with Velan to manufacture valves for North America\u2019s first SMR initiative at Ontario Power Generation Inc.\u2019s Darlington site.<\/p>\n The SMR units at the Darlington site are anticipated to contribute about $38.5 billion to Canada\u2019s gross domestic product over the next 65 years, with 80 per cent of project spending flowing to Ontario companies, according to Ontario Power Generation, citing Signal49 Research figures.<\/p>\n \u201cBuilding on our experience supporting the Darlington New Nuclear Project backed by more than seven decades of nuclear expertise, Velan is uniquely positioned to support GE Vernova Hitachi as a partner of choice in enabling future BWRX-300 deployments in Europe,\u201d Laurent Pefferkorn, Velan\u2019s executive vice-president, global sales, said in the press release.<\/p>\n Lecce said the deal is a win for both Ontario and Europe.<\/p>\n \u201cWe have a case study for the Canadian supply chain: a Canadian company that is Ontario-owned, that will now be building components for European small modular reactor deployment,\u201d he said in the video.<\/p>\n