Westinghouse
Canadians rely on electricity every day and every night to power their homes, hospitals, communications, transportation and vital infrastructure. At the same time, we seek to minimize our impacts on the environment, combat climate change and reduce reliance on emission-producing sources of energy. That means, more electricity.
And for Cameco and Westinghouse, that means nuclear reactors.
The 100% Canadian-owned modern AP1000 Gen III+ reactor has a globally proven track record, with a growing fleet delivering safe, reliable power and record-setting performance.
Westinghouse Electric Company is a nuclear reactor technology original equipment manufacturer (OEM) and a leading provider of highly technical aftermarket products and services to commercial nuclear power utilities and government agencies globally. Westinghouse is a pioneer in the nuclear energy industry; it supplied the world’s first commercial pressurized water reactor in 1957.
The company enables carbon-free baseload and dispatchable energy that is needed to support the global energy transition. Like Cameco, Westinghouse has a long-term contract portfolio, which positions it well to compete for growing demand for new nuclear reactors and reactor services, as well as the fuel supplies and services needed to keep the global reactor fleet operating safely and reliably.
| Corporate Headquarters | Cranberry Township, Pennsylvania (USA) |
| Cameco Ownership | 49% - equity-accounted |
| Business Activities | Operating Plants business (previously referred to as Core business) Provides engineered equipment, operating plants services and nuclear fuel products and services to the global installed base of operating reactors and, it services approximately 63% of the approximately 417 installed operating reactors globally (based on reactor count). It is organized into three business lines:
New Plants business (previously referred to as New Build) Provides design, engineering, licensing, procurement and other services for new nuclear generation projects, including its AP1000® reactor technology, which is the first and only generation III+ pressurized water reactor operating today with fully passive safety systems, and its advanced technology portfolio which includes the design of its AP300™ SMR technology, the eVinci™ microreactor technology which is under development, and advanced fuels and AI platform. |
| Certifications | ISO 14001; ISO 45001 |
Background
On November 7, 2023 Cameco announced the closing of the acquisition of Westinghouse in partnership with Brookfield. Cameco beneficially owns a 49% interest in Westinghouse and Brookfield beneficially owns a 51% interest. Bringing together Cameco’s expertise in the nuclear industry with Brookfield’s expertise in clean energy positions nuclear power at the heart of the energy transition and creates a powerful platform for strategic growth across the sector.
This acquisition enhances Cameco’s ability to compete for more business by investing in additional nuclear fuel cycle assets expected to augment the core of our business and offer more solutions to our customers across the nuclear fuel cycle. Like Cameco, Westinghouse has nuclear assets that are strategic, proven, licensed and permitted, and that are in geopolitically attractive jurisdictions.
For more information, visit www.westinghousenuclear.com or read Cameco's most recent Quarterly Report