Canada must act quickly to maintain its global advantage in nuclear energy and medical isotope innovation, entrepreneur Michael Lee-Chin told an audience at Georgian College’s Barrie campus on Wednesday.
Speaking in a keynote conversation organized by the Barrie Chamber of Commerce and moderated by Georgian College president and CEO Kevin Weaver, Lee-Chin said the country is uniquely positioned to become a world leader in both clean nuclear energy and nuclear medicine, but warned success will depend on investment, workforce development and national commitment.
It comes as Ontario expands its nuclear footprint amid growing demand for clean baseload power and medical isotope production.
On Thursday, Ontario Energy Minister Stephen Lecce announced a $300 million cost-sharing agreement with Bruce Power to help advance construction of a third nuclear reactor in Kincardine. That project would make the site one of the largest nuclear generation facilities in the world.
The company is still seeking approvals from the Impact Assessment Agency of Canada and the Canadian Nuclear Safety Commission.
The province also provided Bruce Power a $250 million investment in late February aimed at expanding its production of medical isotopes.
Lee-Chin, a Jamaican-Canadian billionaire, is the chairman and CEO of Ontario-based company Portland Holdings, and has invested internationally in efforts to expand nuclear medicine and renewable energy.
The symposium highlighted the role colleges and universities could play in training the next generation of workers for the sector.
"Institutions like Georgian and colleges and universities across Canada play a critical role in supporting the nuclear sector, mostly through talent," Weaver said.
In January, Georgian signed a memorandum of understanding with the Canadian Nuclear Association (CNA) to become an affiliate member and connect the college's students and apprentices to potential work in the field of nuclear energy and medicine.
Georgian said in a corresponding release that it helps build Ontario’s clean energy workforce through programs like Power Engineering Technology, as well as through skilled trades and apprenticeships, and applied research in advanced manufacturing and automation.
Meanwhile, Georgian's Owen Sound campus is situated in a region where nuclear and related industries play a role in the local economy.
Lee-Chin said workforce development for the rest of the world will be critical if Canada hopes to maintain its advantage.
He also called for stronger government support, including tax incentives aimed at encouraging Canadians and businesses to invest in nuclear innovation.
“We should embrace it wholeheartedly because we know it is coming and it’s the way of the future.
Lee-Chin focused heavily on Canada’s role in the emerging nuclear economy, particularly around clean energy generation and targeted cancer treatments using radioactive isotopes.
He framed much of the discussion around what he called his “3-P framework” — predict, plan and persevere, explaining that it helped shape his interest in nuclear medicine after learning about targeted radioligand therapies used to treat cancer.
The treatments, he said, opened his eyes to what he believes is a major global shift already underway.
“When I applied the framework back in 2018 and 2019, it became clear to me that the nuclear industry was going to be a necessary infrastructure piece that is going to be relevant to solving for (treating) cancer and also solving for clean energy,” he recalled.
Throughout the discussion, Lee-Chin repeatedly emphasized that Canada already has many of the ingredients needed to lead globally, including decades of nuclear research expertise and established infrastructure.
“Canada is one of 61 nuclear countries,” he said. “We in Canada, we’re in the pole position.”
He pointed to institutions like the Canadian Nuclear Laboratories and Canada’s long-standing nuclear research capacity as major advantages, particularly as countries around the world seek cleaner and more secure energy sources.
Lee-Chin argued nuclear energy will become increasingly essential as nations pursue carbon reduction goals while also trying to meet growing electricity demands tied to artificial intelligence, data centres and industrial growth.
“Nuclear gives countries energy security and energy independence,” he said. “Nuclear energy democratizes energy.”
Near the end of the discussion, Lee-Chin shifted toward leadership and perseverance, encouraging attendees to approach challenges with what he described as “grit.”
“You have to have a fascination, you have to commit to self-improvement, you have to have a purpose,” he said. “And one has to commit to having a growth mentality.”
The symposium brought together educators, business leaders and industry representatives focused on the future of nuclear technology and related economic opportunities in Canada.
