This strategic briefing builds on key discussions from the Summit, where Indigenous partnerships in the Small Modular Reactor (SMR) sector were highlighted as essential to unlocking both domestic innovation and global capital flows. The Summit continues to play a critical role in catalysing the intersection of capital markets and Indigenous-led energy initiatives.
Small Modular Reactor
Source: https://climateinsider.com/2024/10/09/government-of-canada-advances-small-modular-reactor-research-and-development-with-13-6-million-investment-a-deep-dive/
Canada is emerging as a global frontrunner in the deployment of Small Modular Reactors (SMRs), offering a scalable, low-emissions energy solution in an era of geopolitical volatility, decarbonisation imperatives, and infrastructure modernisation. What distinguishes Canada’s approach, however, is not only its solid regulatory regime and technical capacity, but its commitment to Indigenous partnership as a foundational pillar of SMR development.
This briefing is designed for global investors, such as infrastructure funds, utilities, and technology developers like Rolls-Royce, GE Hitachi, X-energy, and EDF, seeking clarity on where and how Indigenous Peoples are shaping, co-owning, and enabling the growth of Canada’s SMR sector.
Indigenous Nations as Equity Holders and Project Partners
Canada’s SMR strategy recognises Indigenous Peoples as rightsholders, not stakeholders. Across multiple provinces, First Nations, Métis, and Inuit communities are stepping into roles as equity partners, supply chain leaders, and strategic advisors. This represents a profound shift from consultation to co-development, ensuring that Indigenous governance, environmental stewardship, and economic participation are embedded into SMR deployment.
New Brunswick: First Equity Investment in Canadian SMRs
In a landmark agreement announced in September 2023:
- The North Shore Mi’kmaq Tribal Council (NSMTC) and its seven member First Nations acquired equity in two SMR developers: Moltex Energy and ARC Clean Technology.
- Moltex Energy: $2 million in share value distributed to the communities.
- ARC Clean Technology: $1 million in share value.
These investments position Indigenous nations not only as beneficiaries but as shareholders with governance rights, aligning long-term SMR development with community priorities and capacity-building objectives.
Saskatchewan: Strategic Engagement and Site Readiness
Saskatchewan, home to the world’s richest uranium deposits, is a natural fit for next-generation nuclear deployment. The province also leads Canada in Indigenous economic participation in the resource sector:
Indigenous communities here have decades of experience co-managing uranium mining operations, contributing to a skilled workforce and established governance protocols.
The First Nations Power Authority (FNPA) has partnered with X-energy Canada to develop Indigenous capacity and explore roles for First Nations in the deployment of Xe-100 high-temperature SMRs.
Elders from northern Saskatchewan communities have toured demonstration sites, including the Avinci microreactor model in Saskatoon, marking a direct engagement approach grounded in transparency and respect.
National Leadership: Policy Integration and Governance
Canada’s SMR Action Plan is unique in its explicit inclusion of Indigenous Peoples. As part of its governance architecture:
Natural Resources Canada invested $800,000 to establish the National Indigenous Advisory Council on SMRs, coordinated by the FNPA.
This council unites Indigenous leaders from across Canada to advise on licensing, environmental impact, community benefits, and technology deployment pathways.
These structures ensure that Indigenous consent, traditional knowledge, and economic objectives are embedded into national SMR strategies.
Why This Matters for Global Investors
1. Social Licence and Regulatory Certainty
SMR developers and investors who align with Indigenous partners from inception gain critical social licence. Early Indigenous inclusion de-risks project timelines by facilitating:
- Faster site selection and permitting
- Reduced litigation and reputational risk
- Stronger community relations and workforce pipelines
2. Supply Chain Opportunity and Localisation
Indigenous-owned businesses are Canada’s fastest growing entrepreneurial sector. Many are already active in energy, mining, and infrastructure:
These enterprises offer procurement opportunities in civil construction, logistics, environmental monitoring, and skilled trades.
Co-investment models also align with ESG mandates for inclusive growth.
3. Alignment with Global Standards
Canada’s model aligns with UNDRIP (United Nations Declaration on the Rights of Indigenous Peoples) and ESG frameworks increasingly required by institutional investors and export credit agencies. Partnering with Indigenous communities enhances credibility with global regulators and capital allocators.
Future Energy Security
Source: https://www.weforum.org/stories/2017/03/three-things-which-will-decide-the-winners-and-losers-of-the-energy-transition/
The Path Forward
The integration of Indigenous Peoples into Canada’s SMR landscape is not symbolic, it is structural. For global firms evaluating SMR deployment, localisation strategies, or equity participation in Canada, understanding and engaging Indigenous partners is not optional, it is essential.
Canada’s Indigenous nations bring not only land rights and regulatory influence, but also entrepreneurial ambition, project finance potential, and intergenerational stewardship principles that resonate globally.
As SMRs move from demonstration to deployment, partnerships forged today will shape the energy systems of tomorrow.
Invest where consent, innovation, and opportunity converge. Invest where Indigenous Peoples are partners.
This alignment of values, capital, and Indigenous leadership is precisely the kind of high-impact convergence championed by the Summit, a platform that continues to bring together capital and communities to build the future of energy, together.
