Aecon signs agreement to support future Small Modular Reactor deployment in the United Kingdom

Aecon Group Inc. (“Aecon”) is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with GE Vernova’s nuclear business, GE Hitachi Nuclear Energy (“GEH”), to support the potential deployment of GEH’s BWRX-300 Small Modular Reactor (“SMR”) technology in the United Kingdom.

Under the MOU, Aecon will support GEH as it continues to progress through the Great British Nuclear SMR selection competition. Aecon will provide nuclear construction, specialized fabrication and project management services leveraging its experience working with GEH as the Canadian constructor of the first-of-a-kind BWRX-300 SMR on Ontario Power Generation’s Darlington New Nuclear Project.

“Aecon’s extensive nuclear experience and technical knowledge spans five decades and we are well positioned to play an important role in building the next generation of nuclear infrastructure to ensure clean, reliable and affordable electricity for future generations,” said Thomas Clochard, Executive Vice President, Nuclear & Civil, Aecon. “Aecon is at the forefront of advancing the energy transition, including through nuclear power, building North America’s first grid-scale SMR at the Darlington nuclear site and delivering the two largest ongoing nuclear refurbishment projects in North America. We look forward to bringing our expertise to support the future deployment of SMRs in the UK.”   

About Aecon

Aecon Group Inc. (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.  

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The information in this article includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. In addition to events beyond Aecon’s control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein, as discussed in greater detail in Section 13 - "Risk Factors" in Aecon’s 2023 Management’s Discussion and Analysis for the fiscal year ended December 31, 2023, and Aecon’s Management’s Discussion and Analysis for the fiscal quarter ended June 30, 2024, each filed on SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.