Bruce Power Inc., a Canadian energy provider, has entered into an alliance agreement with valve manufacturer Velan Inc. This agreement marks the beginning of a ten-year collaboration between the two companies. As part of this cooperation, Velan will supply numerous valves worth $100 million, including both nuclear and non-nuclear valves. Additionally, Velan will take over modernization and technical services for Bruce Power.
Bruce Power operates the Bruce Nuclear Generating Station, located on the shores of Lake Huron, about 250 kilometers northwest of Toronto. With eight reactors and a capacity of 5,403 megawatts, it is the third-largest nuclear power plant in the world by capacity.
In the coming years, Bruce Power plans several asset management and life extension projects. These are intended to ensure that the eight reactors can be operated reliably until 2064 and beyond. The newly announced partnership with Velan is expected to make a significant contribution to achieving this goal.
Bruce Power's life extension program is Ontario's largest clean energy initiative and one of Canada's largest private infrastructure projects, funded by private investors. Bruce Power's operations and life extension program generate direct and indirect economic activities in Canada worth $9 to $12 billion, creating tens of thousands of jobs and economic development.
Clean and Reliable Energy
"We are pleased to work with Velan on our valve program, which will help us generate clean and reliable energy for the people of Ontario in the coming decades," said David Furr, Vice President of Supply Chain at Bruce Power. "This strategic agreement enables both material and capacity planning for our projects and benefits the cost management of both companies."
"This long-term contract is an important milestone in Velan's growth strategy in the nuclear sector," said Laurent Pefferkorn, Executive Vice-President of Sales at Velan. "This recent agreement not only strengthens our alliance but also provides our company with a long-term perspective for future investments."
Founded in 1950 in Montreal, Velan is a manufacturer of industrial valves with a strong presence in the nuclear, cryogenic, and defense industries. In the spring of 2023, the Canadian Flowserve Corporation acquired the company.
