MONTREAL: July 18, 2018 – SNC-Lavalin (TSX: SNC) and Holtec International group are pleased to announce a new US-based joint venture company named Comprehensive Decommissioning International, LLC (CDI). The company, headquartered in Camden, New Jersey, has been established to bring the expertise of both companies together to ensure safe, rapid, and economic decommissioning of shuttered nuclear plants.
CDI’s priorities are safety and environmental stewardship as it performs accelerated decommissioning of retired nuclear power plants. Using innovative technologies, CDI is the best equipped company to cut the total time elapsed to release plant sites for unrestricted use to eight years or fewer, pending local regulatory approvals (with the exception of the temporary dry storage installation).
With an aging nuclear power plant fleet and the rise of lower cost means of energy generation in the United States, decommissioning has become a rapid growth market with a forecast value exceeding $14B USD over the next ten years. The safe deconstruction of nuclear power plants requires complex project planning and project management, specialized nuclear skills, proven processes and innovative technologies.
“CDI’s vision is to become the leading decommissioning contractor in this market,” said Pierre Oneid, Holtec’s Senior Vice-President and Chief Nuclear Officer. “Now is the time to invest and the parent companies are bringing their joint skills, technologies and financial strength together to lead the way in decommissioning and spent fuel storage.”
Holtec and SNC-Lavalin both boast long histories of strong financial performance and portfolios of first-to-market technologies. Both companies bring to CDI a legacy of safe nuclear operations, quality performance, and on time project delivery.
“This joint venture expands our existing collaboration with SNC-Lavalin on our small modular reactor, the SMR-160, to the decontamination and decommissioning sector of the nuclear industry. We will leverage our used fuel storage and transport expertise, now in use by 110 nuclear reactors around the world, to pave the way for what we call prompt decommissioning,” said Holtec’s President & CEO, Dr. Kris Singh.
“SNC-Lavalin continues to expand its participation in the nuclear value chain, working with its valued partner, Holtec,” said Sandy Taylor, SNC-Lavalin’s President, Nuclear. “Over and above our collaboration with Holtec for small modular reactors, the unique contributions of our respective companies bring a complete solution to reactor decontamination and decommissioning, bringing technology and innovation to fuel management and facilities dismantlement.”
CDI provides comprehensive project solutions for the accelerated retirement of nuclear power plants. CDI’s global operations provide expertise and technological innovation to protect the public in an environmentally responsible, safe and ethical manner. The joint venture is committed to the enrichment of the communities in which it operates, employing financially sustainable business practices that ensure the upholding of obligations made as a trusted steward of legacy nuclear materials. www.comprehensivedecommissioning.com 455, René-Lévesque Blvd. West, Montreal, Quebec, Canada, H2Z 1Z3 514.393.1000
Founded in 1911, SNC-Lavalin is a global fully integrated professional services and project management company and a major player in the ownership of infrastructure. From offices around the world, SNC-Lavalin’s employees are proud to build what matters. Our teams provide comprehensive end-to-end project solutions – including capital investment, consulting, design, engineering, construction, sustaining capital and operations and maintenance – to clients across oil and gas, mining and metallurgy, infrastructure, clean power, nuclear and EDPM (engineering design and project management). On July 3, 2017, SNC-Lavalin acquired Atkins, one of the world’s most respected design, engineering and project management consultancies, which has been integrated into our sectors. www.snclavalin.com
ABOUT HOLTEC INTERNATIONAL
Founded in 1986, Holtec International is an integrated technologies enterprise providing innovative solutions, equipment, and services to the global energy industry. Specializing in spent nuclear fuel management technologies, Holtec has changed the landscape of dry spent nuclear fuel storage by designing, licensing, fabricating, and constructing the first underground spent fuel storage facilities in the world. Holtec also provides design, turnkey delivery, problem resolution, life extension, and life assessment services on the entire range of heat exchangers for the electric power generation industry worldwide, and is revolutionizing Air Cooled Condenser (ACC) technology with its HI-MAX (Holtec International MAXimum reliability ACC) air cooled condensing system. To learn more about Holtec International, visit: www.holtecinternational.com
For more information
Daniela Pizzuto Denis Jasmin
Director, External Communications Vice President, Investor Relations
514-393-8000, ext. 54772 514-393-8000, ext. 57553