Northwire Canada EditionThursday, October 15, 2026
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GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4% GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4%
M&A / Property

Velan receives order for ECI valves

By The Northwire Desk — AI Analysis Oct 20, 2025 · 20:45 VLN · 15.95 Velan Inc
VLN · Price

Executive Summary

  • Velan Inc. has secured a significant contract valued at over $20 million from Ontario Power Generation (OPG) to supply emergency cooling injection (ECI) valves for the refurbishment of three reactors at the Pickering Nuclear Generation Station.
  • The order involves ASME III Class 1 rated valves, representing the highest safety and reliability standards, continuing a supply relationship with OPG that spans over 45 years.
  • Delivery schedules are set to begin in January 2027, with final deliveries completed by January 31, 2028.

Key Details

  • Contract Value: Exceeding $20 million.
  • Customer: Ontario Power Generation (OPG).
  • Product: Emergency cooling injection (ECI) valves.
  • Specifications: ASME III Class 1 rated (highest standard of safety and reliability in category).
  • Application: Supply for three reactors being refurbished at the Pickering Nuclear Generation Station.
  • Delivery Schedule:
    • First shipment: January 2027.
    • Final delivery completion: January 31, 2028.
  • Historical Context: Velan supplied the original valves over 45 years ago and has continuously supported the Pickering facility through its construction and refurbishment program.
  • Strategic Alignment: Project supports Canadian nuclear innovation, CANDU technology advancement, and global clean energy expansion efforts.

Notable Quotes

  • "Velan is proud to continue our partnership with OPG, supporting Canadian nuclear innovation and advancing CANDU technology. This order reflects our commitment to safety, reliability and a sustainable energy future for Canada and beyond." — James Mannebach, Chief Executive Officer
Read the original news release →

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