Thank you, Mr. Chairman.
Thank you, ladies and gentlemen, for having me here again. I don't know if you remember, but I was here a couple of months ago, when I talked about nuclear power for the oil sands.
To date, we've moved along. I'll give you a quick overview of where we are today. If you remember who I am, it's Energy Alberta. This is a privately owned company. There are two shareholders to date, Hank Swartout and me, the owners of the company.
We have an exclusivity agreement with AECL, Atomic Energy of Canada, to build two reactors in Alberta. We're hoping to build the ACR-1000. We're actually putting in for our site licensing approval on June 15.
We're working with two communities as we speak. To give you an idea, tomorrow night I do my first open house at a town-hall meeting in Whitecourt. Not only are we doing the Whitecourt community, we will also do the first nations at three o'clock. We're having three meetings: we'll do the Rotary Club, the first nations, and the town-hall meeting, all in the same day, which is tomorrow. So my material for you is limited, because we're getting our material ready for the town-hall meetings.
I'm quite a firm believer in what Murray has just mentioned, which is what's happening in the world right now with the renaissance of nuclear power. We brought that power and that idea to Alberta. What has happened in Alberta that everybody here should be aware of is that Alberta does have some oil companies that are very concerned about the CO2 issues. So we have an off-taker in Alberta that wishes to buy nuclear power in Alberta and likes the idea of using Atomic Energy of Canada's nuclear generation system.
This is private business for a private company that wishes to use the clean technology that nuclear power has to offer. Not only is it clean technology, but we, as well as our off-taker, believe that it's reliable and has stability of pricing. Here's a company in the oil business that believes that it needs a stable energy source, and it's going to use nuclear power. You can bring up a whole bunch of questions or concerns about whether it is right or wrong. Well, you have a private oil company that wishes to take that much power, which is a substantial amount.
Just to give you a quick rundown, to date, council members from two communities wish to host our facility. We are working closely with Whitecourt and Peace River in Alberta. Whitecourt is where we're going tomorrow. We've talked to the council in Peace River, as well, and they're very interested. In Whitecourt, not only do we have the council interested, we have the Chamber of Commerce and the Rotary Club interested. And the community hopefully will be interested tomorrow as well.
We actually have taken an approach that's a voluntary approach. So we're trying to inform the community about nuclear power to make them feel comfortable. We're asking them to host us. Tomorrow night, in both cases, we've been invited guests to the community. We did not go to the community.
Just to give you a little bit more of an idea of why I'm here today, I need government support on the regulatory side, as well. We're very concerned about what's happening on a regulatory basis in Canada today. They have a number of mining projects. They have a number of nuclear projects that are being planned. They have some upgrading facilities they're upgrading. We're concerned about their ability to look at our process in a timely fashion. That timely fashion comes from you people who give them the directions to make sure that not only do they have the resources, but they have a commitment from you people that you feel that this is the right thing to do for Canada today.
That timely review is important to us. Not only does it cost money, but you also have an off-taker that needs it in a timely fashion. If we don't meet that in a timely fashion, they won't take that power.
What's happening, what I'm hearing not only from yourselves but also from the community, is that they want us to clean up that CO2 issue. This is an opportunity that we have to clean up the CO2 issue, and we need you and the regulatory body to do that in a timely manner. If it's not done in a timely manner, we as a group fail. I think we as a group need to make sure that regulatory body does it in a timely manner.
That's what we're doing in Alberta, and I do need the help from the committee and from the government to make sure the regulatory body does their job in a timely fashion and they have the resources to do that job.
Thank you.