Velan Inc. signs agreement with GEH SMR Technologies Canada Ltd.

Velan Inc., a Montreal-based manufacturer of industrial valves, has announced that it has entered into a Main Services Agreement (MSA) with GEH SMR Technologies Canada Ltd. to supply products and services that may be required by GEH for the provision of a stand-alone Small Modular Reactor to Ontario Power Generation Inc.

Under the terms of the MSA, GEH has placed an initial purchase order with the company to develop technology and related products.

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 Inc.’s continued ability to develop and deliver required products and services under the MSA, could have a material impact on the company’s future revenue and results of operations.