Velan, a world-leading manufacturer of industrial valves, announced that it has entered into a main services agreement with GEH SMR Technologies Canada to provide certain products and services that may be required by GEH for the provision of a stand-alone Small Modular Reactor (SMR) to Ontario Power Generation.
Under the terms of the agreement, GEH has placed an initial purchase order with Velan to develop technology and products related thereto. Anticipated future purchase orders for similar SMR’s in Canada, the United States and around the world, the receipt of which are dependent on Velan’s continued ability to develop and deliver required products and services under the main services agreement, could have a material impact on the Company’s future revenue and results of operations.