Atomic Energy of Canada Limited (AECL) is a Canadian federal Crown corporation and Canada's largest nuclear science and technology laboratory. AECL developed the CANDU reactor technology starting in the 1950s, and in October 2011 licensed this technology to Candu Energy (a wholly owned subsidiary of SNC-Lavalin).
Today AECL develops peaceful and innovative applications from nuclear technology through expertise in physics, metallurgy, chemistry, biology and engineering. AECL's activities range from research and development, design and engineering to specialized technology development, waste management and decommissioning. AECL partners with Canadian universities, other Canadian government and private-sector R&D agencies (including Candu Energy), various national laboratories outside Canada, and international agencies such as the IAEA.
AECL describes its goal as ensuring that "Canadians and the world receive energy, health, environmental and economic benefits from nuclear science and technology - with confidence that nuclear safety and security are assured".
Until October 2011 AECL was also the vendor of CANDU technology, which it had exported worldwide. Throughout the 1960s-2000s AECL marketed and built CANDU facilities in India, South Korea, Argentina, Romania, and the People's Republic of China. It is a member of the World Nuclear Association trade group.
In addition, AECL manufactures nuclear medicine radioisotopes for supply to MDS Nordion in Ottawa, Ontario, and is the world's largest supplier of Molybdenum-99 for diagnostic tests, and Cobalt-60 for cancer therapy.
AECL is funded through a combination of federal government appropriations and commercial revenue. In 2009, AECL received $651 million in federal support.
In October 2011 the federal government of Canada sold the commercial CANDU design and marketing business of AECL to Candu Energy for $15 million (including 15 years worth of royalties, the government could get back as much as $285 million). The sale entered the exclusive negotiation stage in February, a month after the other bidder, Bruce Power pulled out). Poor sales and cost overruns ($1.2 billion in the last five years) were reasons for the divestment though SNC-Lavalin expects to reverse that trend by focusing on new generation reactors. SNC-Lavalin Nuclear Inc, SNC's nuclear subsidiary is already part of Team CANDU, a group of five companies that manufacture and refurbish the CANDU reactors. The government will continue to own the Chalk River Laboratories (produces isotopes for medical imaging). The transaction puts 800 jobs at risk while improving job security for 1,200 employees. Due to safety concerns many countries are considering thorium nuclear reactors which AECL's CANDU reactors easily convert into (from uranium fuelled). Higher energy yields using thorium as the fuel (1 ton of thorium produces the same amount of energy as 200 tons of uranium) also makes it more attractive. OMERS has also shown interest in the company.
Read more about Atomic Energy Of Canada Limited: Funding Deficiencies, Safety Concerns, Political Developments
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