VANCOUVER, BC / ACCESSWIRE / March 31, 2022 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T1)(OTCQB:MARVF); (the "Company") is pleased to announce New Marvel Energy a wholly owned subsidiary to the Corporation is moving ahead on a design study for standardized nuclear fuel for small modular nuclear reactors (SMR) for use in land and energy including long range space flight.
Canada has one of the most promising markets for SMR technology, the potential value of for SMRs in Canada is valued at $ 5.3B by 2040, globally the SMR market is much bigger at $150B by 2040. Typically, SMRs have a power capacity of 300MW(e) per unit making it ideal as it produces large amounts of low to no carbon electricity.
- Small, a fraction of the size of conventional nuclear power reactors.
- Modular, as components can be factory assembled and transported to a location for assembly.
- Reactors, harnessing nuclear fission to generate heat to produce energy.
One of the challenges to accelerating access to energy is infrastructure due limited grid coverage in rural areas, costs associated to grid connection for rural electrification makes SMRs one of the only viable solutions available. The Canadian government through its Strategic Investment Fund is focusing efforts in the sector investing in its third SMR technology company at USD$ 21.6M in Westinghouse Electric Canada to support its eVinci microreactor. Four provinces; Saskatchewan, New Brunswick, Ontario, and Alberta have pushed ahead with plans to build small reactors to supply power. Conventional reactors deliver 1000 megawatts of energy, SMRs generate between 200-300 megawatts enough to power about 300,000 homes. Canada's Athabasca has the ability to ensure Canadian's energy independence and is uniquely positioned to provide uranium to fuel SMRs.
"As our government moves swiftly with our green economic recovery, we are laying the foundation for a better and more prosperous climate-oriented future. Westinghouse's innovative technology will help deliver cleaner energy sources across Canada, especially in remote communities. This investment will play a critical role in fighting climate change, building on Canada's global leadership in SMRs and securing
Jobs in Ontario's energy sector." - The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.
"Canada must rapidly develop and deploy low-carbon energy technologies in order to meet our environmental and economic objectives. Small modular reactors provide an opportunity to generate non-emitting energy for communities while attracting investments in Canadian businesses and creating jobs for Canadian workers." - The Honourable Jonathan Wilkinson, Minister of Natural Resources.
The Company is also working with researchers to complete a design study for TRISO which stands for TRI-Structural ISOtropic fuel. Each Triso particle is made up of uranium carbon and oxygen fuel kernel. The Kernel is encapsulated by three layers of carbon -and ceramic based materials that prevent radioactive fission products.
These particles are incredibly small (about the size of a poppy seed) and very robust. TRISO fuels are structurally more resistant to neutron irradiation, corrosion, oxidation, and high temperature. The triple coated particle acts as vault as its own containment system. TRISO particles cannot melt in a reactor and can handle extreme heat due to their resistance to melting, making it an ideal fuel for space flight.
About Marvel Discovery Corp.
Marvel, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
- Newfoundland (Slip, Gander North, Gander South, Victoria Lake, Baie Verte, and Hope Brook - Au Prospects)
- Atikokan, Ontario (BlackFly - Au Prospect)
- Elliot Lake, Ontario (East Bull - Ni-Cu-PGE Prospect)
- Quebec (Duhamel -Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium Prospect)
- Prince George, British Columbia (Wicheeda North - Rare Earth Elements Prospect)
The Company's website is: https://marveldiscovery.ca/
ON BEHALF OF THE BOARD
Marvel Discovery Corp.
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: [email protected]
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law
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SOURCE: Marvel Discovery Corp.