Canada Nuclear Strategy.
AtkinsRéalis Welcomes Canada's Nuclear Energy Strategy, Bolstering CANDU Technology.
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Canada has officially launched a national Nuclear Energy Strategy, placing homegrown CANDU reactor technology at the center of the country's energy future. The federal government framed the move as a matter of "national security and economic resilience," according to Natural Resources Canada.
Engineering giant AtkinsRéalis (TSX: ATRL) — the sole owner of CANDU intellectual property — quickly welcomed the strategy. The company's 7,000 nuclear professionals and 40,000 global employees stand ready to deliver, CEO Ian L. Edwards said, calling it "a historic juncture where the world is looking to Canada for reliable, carbon-free baseload power," according to Montreal Gazette.
CANDU Technology Gives Canada a Rare Energy Edge
CANDU reactors run on natural uranium — no enrichment needed. That makes Canada fully self-sufficient from mine to reactor. Joe St. Julian, President of Nuclear at AtkinsRéalis, said that means Canada "can be entirely self-sufficient from mine to reactor," according to The Observer. No other major reactor technology owned outside the US, France, or Russia offers this, making CANDU a strategic outlier.
The technology was first developed by Atomic Energy of Canada Limited in the 1950s. The federal government privatized the commercial division in 2011, when SNC-Lavalin — later rebranded as AtkinsRéalis — took over. Unlike Small Modular Reactors, which are still in pilot phases, CANDU is a proven large-scale power source, according to County Market.
Jobs, GDP, and a Nuclear Supply Chain Across Three Provinces
The nuclear industry already contributes an estimated $6 billion annually to Canada's GDP, according to Natural Resources Canada. The Canadian nuclear supply chain supports 76,000 workers today, per the Canadian Nuclear Association. Ontario alone may need up to 18 gigawatts of new nuclear capacity by 2050 to meet demand, according to the IESO's "Pathways to Decarbonization" report.
AtkinsRéalis estimates that each new CANDU reactor creates thousands of high-skilled jobs for decades. The strategy is expected to build out a nuclear supply chain across Ontario, Quebec, and New Brunswick. Stock analysts at RBC Capital Markets upgraded ATRL shares, noting the federal strategy effectively "de-risks" the company's nuclear division by locking in domestic refurbishments and new builds.
Canada Eyes Romania, Poland, and Vietnam for CANDU Exports
The strategy is not just about powering Canada. Ottawa wants CANDU to compete globally against Russian state-owned Rosatom and China's CNNC. By anchoring intellectual property at home, Canada positions itself as a safer, Western-aligned alternative for countries seeking nuclear energy, according to PR Record Gazette.
Potential export markets include Romania, Poland, and Vietnam. AtkinsRéalis is developing the next-generation 1,000 MW CANDU Monark™ reactor for exactly this purpose. The company reported record backlogs in its nuclear segment in its Q1 2026 earnings call, driven by both domestic demand and growing international interest in the Monark™ design.
Critics Warn of Cost Overruns and Regulatory Delays
Not everyone is celebrating. The Canadian Nuclear Association warned that "regulatory lag" remains the biggest hurdle. CNA President John Gorman said the Impact Assessment Act must be streamlined to meet 2050 timelines. Environmental groups are split — the Pembina Institute acknowledges nuclear's grid role, while Greenpeace Canada remains opposed, citing radioactive waste and long construction timelines, according to The Observer.
Financial critics point to history. Darlington Nuclear Generating Station's original build ran massively over budget. The Financial Post has questioned whether taxpayers could face similar cost overruns on new large-scale builds. The strategy's success ultimately depends on AtkinsRéalis delivering the Monark™ reactor on time and on budget — a challenge the nuclear industry has long struggled to meet.
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