Velan Secures Major Valve Contract for Nuclear Facility Upgrade
Velan Inc. Awarded Significant Valve Order
Velan Inc. has received an impressive contract worth over $20 million CAD from Ontario Power Generation (OPG). This order focuses on supplying Emergency Cooling Injection (ECI) valves for three reactors undergoing refurbishment at the Pickering Nuclear Generation Station, recognized as one of the largest nuclear facilities globally.
Importance of the ECI Valves
The valves supplied by Velan are rated ASME III class 1, which signifies the highest standards of safety and reliability in the nuclear industry. Fascinatingly, Velan provided the original valves over 45 years ago and has maintained a strong partnership with Pickering throughout various phases of construction and refurbishment.
Delivery Timeline
As per the current schedule, the first shipment of valves is expected in January 2027, with subsequent deliveries concluding by January 31, 2028. This timeline emphasizes Velan's commitment to supporting OPG in a timely manner, ensuring the refurbishment process proceeds smoothly.
Commitment to Safety and Innovation
James Mannebach, CEO of Velan, expressed pride in continuing the partnership with OPG. He stated, "this order reflects our commitment to safety, reliability, and a sustainable energy future for Canada and beyond.” His words resonate with the company's dedication to maintaining high standards in both product quality and environmental responsibility.
Global Clean Energy Efforts
This project is crucial for contributing to global efforts aimed at expanding clean energy capacity. It reinforces Velan’s long-standing reputation as a trusted supplier within the nuclear industry for over 75 years, highlighting the company’s crucial role in advancing nuclear technology.
About Velan Inc.
Founded in Montreal in 1950, Velan Inc. is a prominent manufacturer of industrial valves. With its headquarters in Montreal, the company operates production facilities in nine different countries, showcasing its global reach. Velan Inc. is publicly traded, with shares listed on the Toronto Stock Exchange under the ticker TSX:VLN.
Contact Information
If you wish to reach out for more information, here are the key contacts:
Rishi Sharma
Chief Financial Officer
(438) 817-4430
Dan Velan
Chief Revenue Officer
(438) 817-7618
Frequently Asked Questions
What is the purpose of the valve order from Velan?
The valve order is for supplying Emergency Cooling Injection valves crucial for the refurbishment of three nuclear reactors at Pickering.
Who is Velan Inc.?
Velan Inc. is a global leader in the manufacturing of industrial valves, founded in Montreal in 1950.
When are the valves expected to be delivered?
The first shipment is scheduled for January 2027, with all deliveries concluding by January 31, 2028.
What kind of valves are being supplied?
Velan will supply ASME III class 1 ECI valves, which are recognized for their high safety and reliability standards.
How long has Velan been in the nuclear industry?
Velan has been a trusted supplier to the nuclear industry for over 75 years, showcasing their deep expertise in this sector.
About The Author
Contact Thomas Cooper privately here. Or send an email with ATTN: Thomas Cooper as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.