Ontario Backs $250 Million Expansion of Medical Isotope Production at Bruce Power

The province is providing a loan guarantee through the Indigenous Opportunities Financing Program (IOFP) to support an agreement between Saugeen Ojibway Nation (SON) and Bruce Power. The investment will expand isotope production capacity at the Bruce nuclear station, one of the world’s leading producers of medical isotopes used in cancer treatment and sterilization of medical equipment.

“As part of our plan to protect Ontario, our government is proud to support a partnership that strengthens Indigenous participation in Ontario’s economy and expands access to life-saving medical treatments for people here at home and around the world,” said Peter Bethlenfalvy, Minister of Finance. “The partnership between Saugeen Ojibway Nation and Bruce Power will reinforce Ontario’s strategic position in medical isotope production.”

Ontario is an energy superpower, and our government is using our nuclear advantage to create generational economic opportunities for our First Nations partners and increase access to life-saving medicines.

Through the Building Ontario Fund, our government is proud to support a… pic.twitter.com/mL4k89oJLY

— Peter Bethlenfalvy (@PBethlenfalvy) February 27, 2026

The provincial guarantee marks the largest of its kind since Ontario’s Indigenous loan guarantee program was launched in 2009. Administered by the Building Ontario Fund, the IOFP enables Indigenous communities to participate financially in major infrastructure and energy projects. In the 2025 Ontario Budget, the program was expanded to $3 billion and broadened to include energy, critical minerals and resource development.

Expanding Ontario’s Nuclear Advantage

Bruce Power has been producing medical isotopes for more than 35 years. The facility currently manufactures cobalt-60 and lutetium-177, both critical to modern cancer care and global health applications.

Cobalt-60 is widely used to sterilize surgical instruments, pharmaceuticals and medical implants. Medical-grade high specific-activity cobalt-60 is also used to treat brain tumours and breast cancer. Lutetium-177, produced at Bruce Power since 2022 through a first-of-a-kind Isotope Production System developed with Isogen, is used in precision oncology to treat neuroendocrine tumours, prostate cancer and other cancers.

“Ontario has a plan to double medical isotope production by 2030, advancing life-saving treatment for thousands of Canadians through a powerful partnership with Saugeen Ojibway Nation, Bruce Power and Ontario,” said Stephen Lecce, Minister of Energy and Mines. “With ongoing pressure from U.S. tariffs, our government is fortifying our economy by building this homegrown sector using Canadian CANDU technology to save lives, create jobs and improve the quality of life of First Nations. This is Ontario’s nuclear advantage at work.”

The Bruce nuclear station generates approximately 30 per cent of Ontario’s electricity and plays a significant role in the province’s clean energy strategy.

Economic Reconciliation and Long-Term Growth

The partnership is also being positioned as a step forward in economic reconciliation. By facilitating expanded participation from Saugeen Ojibway Nation, the agreement is designed to create stable, long-term revenue and workforce opportunities for Indigenous communities while strengthening Ontario’s clean energy and life sciences sectors.

“This agreement represents a transformative opportunity for our people. It ensures stable, predictable revenues for generations while strengthening our role in the global medical isotope market,” said Chief Conrad Ritchie of Saugeen First Nation.

Acting Chief Jessica Keeshig-Martin of Chippewas of Nawash Unceded First Nation added that economic reconciliation through partnership with Bruce Power and Ontario is “an important step along that path.”

James Scongack, Chief Operating Officer and Executive Vice-President of Bruce Power, described the initiative as a model of reconciliation in action, linking cancer-fighting innovation with long-term community prosperity.

Provincial officials say the investment will support hundreds of good-paying jobs and help Ontario meet growing global demand for medical isotopes. The move also aligns with broader efforts to build domestic supply chains and strengthen economic resilience amid international trade pressures.

By expanding isotope production capacity, Ontario aims to ensure patients have reliable access to life-saving therapies while reinforcing the province’s leadership in nuclear medicine, clean energy and advanced manufacturing.

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