On February 22, 2024, AtkinsRéalis and Atomic Energy of Canada Limited (AECL) signed a Memorandum of Understanding to jointly advance the development and deployment of CANDU® nuclear reactors in Canada and internationally. The MOU includes plans to expand their existing Intellectual Property Licensing Agreement to reflect the growing role of CANDU technology in achieving net-zero goals. The collaboration focuses on accelerating the CANDU MONARK™ reactor, supporting Canada’s clean energy transition. With over 85% of CANDU components sourced domestically, the deal also boosts the national nuclear supply chain of 250+ companies and 76,000 jobs.

Gowling WLG advised AECL, led by Ahab Abdel-Aziz. Transaction value was not disclosed.