Nuclear energy joint venture formed between Hitachi and Saskatchewan

Hitachi Ltd. (NYSE: HIT) will partner with the provincial government of Saskatchewan to develop nuclear energy and radiation technologies for a total investment of C$10 million ($10.2 million) over the next five years. The parties plan to put the small nuclear reactors into use between 2023 to 2025.

Hitachi and the government will work on projects developing small nuclear power reactors and technology to recollect uranium for nuclear fuel. A separate joint venture between Hitachi and General Electric (NYSE: GE) will also take part in the projects.

Almost all of Canada’s uranium is produced in Saskatchewan.

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