Tuesday, March 3, 2026
The Government of Ontario is providing a provincial guarantee through the Indigenous Opportunities Financing Program (IOFP) to support a $250 million investment to increase production of life-saving medical isotopes, as part of an agreement between Saugeen Ojibway Nation (SON) and Bruce Power.
“The partnership between Saugeen Ojibway Nation and Bruce Power will reinforce Ontario’s strategic position in medical isotope production,” said Peter Bethlenfalvy, Minister of Finance.
Added Chief Conrad Ritchie, Saugeen First Nation: “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.”
Administered by the Building Ontario Fund, the IOFP seeks to advance economic reconciliation and prosperity by enabling financial participation of Indigenous partners in Ontario-based infrastructure projects.
“This provincial guarantee shows how the Building Ontario Fund enables Indigenous ownership in major, revenue‑generating projects. By partnering with Bruce Power and SON, we are helping create long‑term economic opportunities for First Nations while supporting innovation in Ontario.” said Michael Fedchyshyn, CEO, Building Ontario Fund.
The announcement reinforced the critical role of Ontario’s nuclear supply chain, including the Isotope Production System at Bruce Power, developed through a partnership between Bruce Power and Isogen, a Kinectrics and Framatome company.
“This partnership is about more than producing isotopes — it’s about fighting cancer and creating long-term prosperity. It is a powerful example of reconciliation in action. Together, we’re building a future where Indigenous communities share directly in the benefits of clean energy and medical innovation — delivering both health and prosperity for generations,” said James Scongack
COO and executive vice president, Bruce Power.
Featured image: (L to R) Stephen Lecce, Minister of Energy and Mines; Lisa Thompson, Minister of Rural Affairs; James Scongack, Chief Operating Officer and Executive Vice-President, Bruce Power; Jessica Keeshig-Martin, Acting Chief, Chippewas of Nawash Unceded First Nation; Peter Bethlenfalvy, Minister of Finance; Conrad Ritchie, Chief, Saugeen First Nation; Eric Chassard, President and CEO, Bruce Power; Dave Root, Elder, Saugeen First Nation. (Bruce Power)
