Government gives approval for First Hydrogen's stock offering
The Darlington New Nuclear Project in Canada, backed by duke energy, has been designated as a national infrastructure project, signifying a substantial advancement in the country's energy sector. This project, capable of powering 300,000 homes, underscores Canada's dedication to sustainable energy solutions.
The project's emphasis on Small Modular Reactors (SMRs), a natural progression of Canada's CANDU legacy, is particularly notable. SMRs are poised to be a key component of Canada's future energy infrastructure. These reactors shine with simplified, low-pressure designs and passive safety systems that don't necessitate human intervention or external power for shutdown procedures.
First Hydrogen Corp., a company endorsed by the Canadian government, is spearheading the use of SMRs for green hydrogen production. In March 2025, the company established First Nuclear Corp. to directly link SMR energy with electrolysis for producing green hydrogen.
First Hydrogen is currently assessing potential SMR sites in Canada and Europe, capitalizing on the nationwide acceleration in SMR project development that eliminates regulatory hurdles previously hindering project development. This acceleration aligns directly with the government's recognition of SMR technology as vital for energy independence.
Prime Minister Carney's endorsement of the Darlington project reduces regulatory uncertainty for First Hydrogen's expansion plans, further fueling the company's aspirations. The Canadian government has expedited the Darlington New Nuclear Project, reflecting the government's commitment to the project's success.
The collaboration between First Hydrogen and Professor Muhammad Taha Manzoor of the University of Alberta focuses on optimizing SMRs for the substantial energy demand of AI data centers. This collaboration is timely, as Goldman Sachs Research predicts a 50% increase in global electricity demand from data centers by 2027, and potentially 165% by the end of the decade.
First Hydrogen's SMR technology includes factory-built, deployable small plants, making it an attractive solution for remote locations where traditional grid connections are problematic or uneconomical. The estimated $720 billion in network spending by 2030 creates significant market opportunities for First Hydrogen's SMR hydrogen production model.
However, a recent analysis from September 17th suggests urgent action is required for First Hydrogen's stakeholders. The latest First Hydrogen figures indicate potential hurdles that the company must overcome to realize its ambitious plans. Despite these challenges, the company remains optimistic about its future, driven by its commitment to green energy solutions and the growing demand for sustainable energy sources.
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