AtkinsRéalis, the State of Indiana and Hoosier Energy Partner to Advance U.S. Energy Goals with Evaluation of CANDU® Nuclear Technology Deployment

INDIANAPOLIS, Oct. 19, 2026 /PRNewswire/ -- AtkinsRéalis Group Inc., a world-class engineering services and nuclear company with offices around the world, today announced that AtkinsRéalis, the State of Indiana and Hoosier Energy Rural Electric Cooperative have signed a Memorandum of Understanding (MOU) to explore the potential development of a campus of up to eight CANDU® nuclear reactors that could provide up to 6.0 GW of new nuclear-powered baseload generation to help support Indiana's future electricity needs while maintaining or enhancing reliability, affordability, resilience, stability, and environmental sustainability.

"Governor Braun's leadership reflects a practical and forward-looking commitment to meeting growing electricity demand while preserving affordability and enabling economic growth," said Joe St. Julian, President, Nuclear, AtkinsRéalis. "This collaboration demonstrates the value of working with our American partners to address shared energy challenges and exploring solutions that strengthen energy security, support skilled jobs and deliver lasting benefits to communities in the state."

The MOU will facilitate initial discussions to evaluate potential deployment scenarios for CANDU nuclear technology in the state. The eventual deployment of a campus of up to eight CANDU reactors capable of generating up to 6.0 GW of reliable, affordable electricity would strengthen grid resilience, energy security and economic opportunities across Indiana and support the broader energy objectives of the United States.

CANDU technology is one of the world's most established nuclear reactor platforms, with more than six decades of operating experience and nearly 1,000 reactor-years of operation globally. Designed for large-scale electricity generation, CANDU reactors have demonstrated strong reliability, high performance and operational flexibility.

As the conversation increasingly shifts from why nuclear matters to how it can be delivered successfully, CANDU technology offers a proven path forward. Its unique fuel flexibility, use of natural uranium, strong operating record and suitability for multi-unit deployment can help strengthen energy security, support the growth of a domestic nuclear supply chain and create thousands of highly skilled jobs while delivering reliable, affordable electricity for decades to come.

"Ensuring affordable electricity and high-wage opportunities for Indiana's skilled workforce are top priorities," said Indiana Governor Mike Braun. "By exploring this technology, we're evaluating a path to deliver more affordable power while creating the kind of long-term, skilled jobs that strengthen Hoosier communities."

A multi-unit/fleet approach would provide opportunities to benefit from standardized design and repeatable construction, while supporting a sustained skilled workforce and long-term domestic supply chain. The evaluation also considers the construction of several smaller scale gas turbine simple cycle or combine cycle plants in advance of the nuclear plants to accelerate the power deployment. It would also leverage the opportunities of gas-to-nuclear conversion at retired or retiring generation sites. The technology assessment will evaluate how these benefits could be delivered across multiple sites and communities while supporting reliable service and competitive electricity costs.

The evaluation comes as electricity demand continues to rise across the United States, driven by advanced manufacturing, artificial intelligence (AI) and data centers, new industrial development and broader electrification trends. The parties will assess the requirements for a potential multi-unit/fleet nuclear program of up to 6.0 GW, including site selection, commercial structures and power purchase agreements, workforce development and grid integration.

The MOU specifically states that any potential project timeline will depend on site selection, financing, utility or offtake arrangements, applicable regulatory and licensing activities, environmental review, transmission and interconnection planning, community and stakeholder engagement, and other diligence and approvals. The signing parties acknowledged that meaningful engagement with local communities, elected officials, landowners, businesses, and other stakeholders is an important component of any future evaluation process. 

"Hoosier Energy supports an 'all-of-the-above' energy strategy and regularly evaluates technologies and generation resources that may help provide reliable, affordable and sustainable power in the future," said Hoosier Energy President & CEO Donna Walker. "Through this MOU, Hoosier Energy is pleased to offer our expertise as part of early discussions to evaluate whether advanced nuclear energy could be an option worth considering."

Hoosier Energy is a not-for-profit generation and transmission cooperative that provides wholesale power and services to distribution cooperatives in central and southern Indiana and southeastern Illinois. Those member distribution cooperatives serve more than 700,000 member-consumers.

Advancing a U.S. Licensing Pathway

As part of efforts to support potential deployment in Indiana, AtkinsRéalis has initiated pre-application engagement with the U.S. Nuclear Regulatory Commission (NRC), building on the company's June 2026 Letter of Intent submission to begin the U.S. licensing process for CANDU technology. The first public NRC meeting associated with the licensing process was held in August 2026, and the first of seven planned topical reports—covering the quality assurance program—has now been submitted. The NRC's longstanding cooperation with the Canadian Nuclear Safety Commission (CNSC) provides an opportunity to leverage decades of Canadian regulatory experience as the review advances.

The collaboration to advance the deployment of CANDU technology reflects AtkinsRéalis' long-term commitment to supporting the state's infrastructure and economic growth. With an office in Indianapolis, AtkinsRéalis provides a broad range of transportation services to the Indiana Department of Transportation (INDOT), including bridge, roadway, traffic, environmental, utility coordination, inspection, and program management services. Earlier this year, AtkinsRéalis signed a Strategic Alliance Agreement with First American Nuclear (FANCO) to provide exclusive engineering, procurement, and construction management (EPCM) for EAGL 1 small modular reactor (SMR) projects in North America.   

About AtkinsRéalis

Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at www.atkinsrealis.com or follow us on LinkedIn.  

CANDU® is a registered trademark of Atomic Energy of Canada Limited, used under exclusive licence by Candu Energy Inc., an AtkinsRéalis company.

About AtkinsRéalis' Nuclear Sector

AtkinsRéalis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRéalis solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. AtkinsRéalis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRéalis' CANDU technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material. Learn more on our Nuclear market page. 

BACKGROUND

CANDU NUCLEAR TECHNOLOGY

With 34 reactors built on four continents, CANDU technology is proven, low-cost and has a decades-long global track record of on time and on budget performance. The heavy water reactor technology also has some of the highest capacity factors, composed of reliability and "up-time", of all reactors in the world.

Further features of the Enhanced CANDU 6 technology include: 

• Cost-Effective at Scale to Displace High Emissions Energy Sources: 
  Built on the proven success of CANDU nuclear technology, and including the most recent safety and technical advances, the Enhanced CANDU 6® (EC6®) is a Generation III+ 700 MW-class pressurised heavy water nuclear power plant that builds on decades of successful commercial CANDU deployment with natural uranium fuel. The EC6 reactor is project ready for on- schedule construction and commissioning with high safety margins and reliable, economic and competitive electricity production. It is able to respond to daily cyclic load demands.
  
  
• Energy Security: The CANDU MONARK reactor leverages the existing strengths of the proven CANDU design, operating around the world with some of the highest fuel efficiencies and lifetime capacity factors among any reactor technology in the world. This includes using natural uranium as a fuel source, on-power refueling, and online maintenance. Like other CANDU reactors, the fuel flexibility of CANDU MONARK technology also allows it to safely use other fuel sources with minimal adjustments; including recycled uranium, thorium and mixed oxide fuels. Existing CANDU units have already leveraged this capability, proving a natural uranium equivalent to be successful.
  
  
• Cancer-Fighting Isotopes: CANDU technology produces medical grade life-saving isotopes to sterilize medical equipment worldwide, and for use in both fighting and researching cancer. Canada's current fleet of CANDU reactors produce about half of the world's supply of the Cobalt-60 isotope.
  
  
• World Class Safety Standards: CANDU reactors have comprehensive "defence in depth" systems to de-risk even the most unlikely scenarios. It contains two independent, equally effective systems that can shut down the reactor. Both systems work without power, and without the need for operator intervention.  

Forward-Looking Statements

References in this press release to the "Company", "AtkinsRéalis", "we", "us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies constitute "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "aims", "anticipates", "assumes", "believes", "cost savings", "estimates", "expects", "forecasts", "goal", "intends", "likely", "may", "objective", "outlook", "plans", "projects", "should", "synergies", "target", "vision", "will" , or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions or results could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company's 2025 annual management disclosure & analysis ("2025 MD&A") (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com under the "Investors" section. If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the 2025 MD&A (particularly in the section entitled "Risk and Uncertainties"), as may be updated from time to time in the Company's interim quarterly MD&A, are not exhaustive. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

SOURCE AtkinsRéalis