Velan Inc. (Velan), the manufacturer of industrial valves has entered into a Main Services Agreement (MSA) with GEH SMR Technologies Canada Ltd. (GEH) 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 Inc.
Under the terms of the MSA, GEH has placed an initial purchase order with the Company to develop technology and products related thereto. Anticipated future purchase orders for similar SMRs in Canada, the United States, and around the world, the receipt of which are dependent on the Company’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.
