A Canadian technology company dedicated to delivering reliable and emission-free nuclear energy has announced that it is investing $18 million to expand its operations into Alberta by establishing an engineering, research, and development office in Calgary.
Founded in 2013 and headquartered in Ontario, Terrestrial Energy works to commission zero-emissions heat and power plants for industrial consumers. The company is engaged with organizations throughout North America and the United Kingdom to deploy zero-carbon energy technology, which is designed to generate high-efficiency, grid-based power.
Terrestrial Energy worked with both Calgary Economic Development and Invest Alberta to manage its expansion to Alberta.
“Calgary is a global leader in cleantech innovation and companies like Terrestrial Energy will help power our pathway to a net-zero economy,” stated Brad Parry, CEO of Calgary Economic Development.
“Our city is home to experts in all things energy and has the companies, capital, and talent to achieve Canada’s energy transition goals,” he added.
Terrestrial Energy said it was attracted to Calgary for its leadership in the energy sector, access to a large industrial base, high number of international head offices, and business-friendly environment.
“Alberta is a global energy hub with a track record of pursuing innovation in energy markets,” observed Simon Irish, CEO of Terrestrial Energy. “Today its industries are investigating the potential of nuclear innovation to deliver transformative changes, supported by the provincial government’s continued focus on innovation and growth.”
Terrestrial Energy intends to create 29 jobs in Alberta over the next two years through its regional expansion.
“Terrestrial Energy’s expansion into Alberta reflects the potential Alberta holds for energy transition and emission reduction,” said Rick Christiaanse, CEO, Invest Alberta.
As Alberta’s energy landscape continues to evolve, Terrestrial Energy’s proprietary technology has the potential to attract skilled labour and create jobs in a rapidly changing sector.
“Alberta’s economy has momentum, and Terrestrial Energy wants to be a part of that momentum,” believes Rajan Sawhney Minister of Trade, Immigration, and Multiculturalism. “With low corporate tax rates, decreased red tape for businesses, and a ready workforce, Alberta has an economic atmosphere that cannot be matched.”
Terrestrial Energy secured space for its Western Canadian operation in Suncor Energy Centre, which consists of two granite-and-glass office skyscrapers situated in downtown Calgary.
The company is “actively recruiting regional talent to fill positions to support its Alberta-based commercial operation ambitions,” according to a statement issued by the firm.