Candu Energy Inc. welcomes positive review of AFCR technology in China

MISSISSAUGA, ON, Nov. 6, 2014 /CNW/ - Candu Energy Inc., a member of the SNC-Lavalin Group (TSX: SNC), welcomes the positive review of the Advanced Fuel CANDU Reactor (AFCR by an Expert Panel of Chinese nuclear experts. AFCR technology uses both recycled uranium and thorium-based fuels to deliver high-performing reactors with strong environmental benefits.

Yesterday, the China Nuclear Energy Association (CNEA) hosted the Expert Panel review of Candu Energy's AFCR technology, which has been developed in partnership with China National Nuclear Corporation (CNNC). The panel, composed of 22 Chinese nuclear experts from both industry and academia, issued a statement saying  that AFCR technology forms a synergy with China's existing pressurized water reactors (PWRs) and  that it is positioned to "promote the development of closed fuel cycle technologies and industrial development" which is consistent with the overall strategy of nuclear power development in China.

The panel went on to say that the AFCR "meets the latest nuclear safety requirements and the requirements for a Generation III nuclear power technology and has achieved a good balance of advancement and maturity."  It concluded by recommending that the AFCR be further developed and that the proper time should be chosen to "initiate the construction of AFCR to unlock and utilize its various advantages."

Candu Energy and CNNC presented the technical and strategic case to build AFCRs in China. The AFCR complements China's light water reactor (LWR) technology. One AFCR can be fully fuelled by reusing the spent fuel from four LWRs as recycled uranium. The AFCR also allows China to reduce spent fuel volume, reduce reliance on imported uranium and generate a greater portion of its electricity from carbon-free sources. China currently operates two CANDU reactors at the Qinshan site, and both are expected to be modified to use recycled uranium fuel in 2015.

"We are pleased to see such strong support for our AFCR technology and the benefits it stands to deliver in China and in energy markets around the world," said Preston Swafford, Chief Nuclear Officer, Executive Vice-President, Nuclear, SNC-Lavalin Group, and President and CEO, Candu Energy. "China's nuclear community is very knowledgeable and we are encouraged by their confidence in the AFCR.  We look forward to jointly developing the first AFCR new-build project in the near future."

In July, SNC-Lavalin signed a memorandum of understanding with CNNC in Vancouver, BC, to collaborate on nuclear energy projects in China and internationally.

About Candu Energy Inc.

Candu Energy Inc., a member of the SNC-Lavalin Group, is a leading full-service nuclear technology company providing nuclear power reactors and nuclear products and services to customers worldwide. Candu Energy's 1,200 highly skilled employees design and deliver state-of-the-art CANDU® reactors, carry out life extension projects, offer operations, maintenance and plant life management services for existing nuclear power stations.

About the AFCR

Candu Energy's Advanced Fuel CANDU reactor (AFCR™) is a 700MW Class Generation III reactor based on the highly successful CANDU 6® and Enhanced CANDU 6® (EC6®) reactors with a number of adaptations to meet the latest Canadian and international standards. Its fuel flexibility allows it to use recycled uranium or thorium as fuel. It has a heavy-water moderator and heavy-water coolant in a pressure tube design. CAND reactors can be refuelled on power and have one of the highest lifetime capacity factors among the world's reactors. www.candu.com

SOURCE: Candu Energy Inc.

Katherine Ward, Candu Energy Inc., [email protected], 905-823-9040 ext. 37349, [email protected], 1-855-815-0533 / 905-403-7401