Ontario Supporting $250 Million Investment to Expand Life-Saving Medical Isotope Production at Bruce Power

Press Release

February 27, 2026

Investment reinforces province’s strategic position in key sector and will strengthen Indigenous economic participation

KINCARDINE — The Ontario government 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. This guarantee is part of an agreement between Saugeen Ojibway Nation (SON) and Bruce Power and supports the province’s plan to protect Ontario and build the most competitive, resilient and self-reliant economy in the G7. Through SON’s expanded economic participation, the partnership will support hundreds of good-paying jobs, help Ontario meet growing demand in the global isotopes market and build on the province’s nuclear advantage to help stand up to U.S. tariffs and economic uncertainty.

“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.”

The provincial guarantee is the largest of its kind since the Indigenous loan guarantee program began in 2009. 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. As part of the 2025 Ontario Budget, the program was tripled to $3 billion and its scope expanded to include energy projects, critical minerals and resource development sectors.

“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.”

For more than 35 years, the Bruce nuclear station has been a global leader in the production of life-saving medical isotopes used to sterilize medical equipment and support precision oncology for treating tumours and cancers. This investment will help expand its world-leading isotope production capacity, enhancing Ontario’s role in delivering cancer-fighting treatments globally while strengthening the long-term economic partnership between Bruce Power and SON.

By facilitating this investment, Ontario is helping ensure patients have access to life-saving therapies while empowering Indigenous communities to participate meaningfully in Ontario’s clean energy economy — protecting Ontario today and building the future of the province.

Quick Facts

The Bruce nuclear station generates about 30 per cent of Ontario’s electricity and has been a global leader in medical isotopes for over 35 years.
Currently, Bruce Power produces the cobalt-60 and the lutetium-177 isotopes.
Cobalt-60 is used globally to sterilize surgical instruments, pharmaceuticals, implants and certain food products. Medical-grade high specific-activity cobalt-60 is used to treat brain tumours and breast cancer.
Lutetium-177 is used in precision oncology to treat neuroendocrine tumours, prostate cancer and other emerging indications. Bruce Power began production in 2022 using a first-of-a-kind Isotope Production System developed with Isogen.
The Building Ontario Fund plays a critical role in accelerating investment in high-impact, revenue-generating infrastructure projects in Ontario across six priority areas: energy, affordable housing, long-term care, transportation, municipal and community infrastructure and critical minerals.

Quotes

“This record investment and partnership with Saugeen Ojibway Nation ensures that First Nations are key partners in the future of Ontario’s nuclear advantage. We are seizing the opportunity to strengthen economic reconciliation, support workforce development and produce life-saving technology.”
– Greg Rickford
Minister of Indigenous Affairs and First Nations Economic Reconciliation

“Ontario is strengthening its position as a global leader in the production of medical isotopes by expanding the supply chains that deliver life-saving treatments to patients. The new partnership between Bruce Power and Saugeen Ojibway Nation will create good-paying jobs, expand domestic production and reinforce Ontario’s role as a trusted supplier of cutting-edge cancer therapies.”
– Vic Fedeli
Minister of Economic Development, Job Creation and Trade

“Our government is protecting Ontario’s health-care system as a global leader in nuclear medicine to ensure timely access to life-saving medications and treatments across the province. By investing to expand the partnership between Saugeen Ojibway Nation and Bruce Power and increase the production of medical isotopes, we’re fueling Ontario-made breakthroughs in cancer care and bringing world-class treatment closer to home for more families.”
– Sylvia Jones
Deputy Premier and Minister of Health

“Bruce Power and Saugeen Ojibway Nation are working together to deliver crucial, cancer-fighting medical isotopes while creating lasting prosperity for communities. The partnership strengthens local economies, supports reconciliation and ensures that families across Huron-Bruce and beyond benefit from Ontario’s leadership in clean energy and innovation in health care.”
– Lisa Thompson
MPP for Huron—Bruce

“A big part of Ontario’s nuclear advantage is powered right here in Bruce County. Nuclear technology is being used to save lives, and I welcome today’s announcement that furthers this in partnership and collaboration with Saugeen Obijway Nation.”
– Paul Vickers
MPP for Bruce—Grey—Owen Sound

“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.”
– James Scongack
Chief Operating Officer and Executive Vice-President, Bruce Power

“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.”
– Chief Conrad Ritchie
Saugeen First Nation

“Economic reconciliation with Bruce Power and Ontario is important to us and this partnership is a great step along that path. Together, we are supporting producing critical life-saving treatments.”
– Acting Chief Jessica Keeshig-Martin
Chippewas of Nawash Unceded First Nation

“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.”
– Michael Fedchyshyn
CEO, Building Ontario Fund

“The Municipality of Kincardine celebrates this significant announcement. The provincial government’s proactive investment indicates and reinforces its commitment to isotope production through community collaboration. We are pleased that Saugeen Ojibway Nation and Bruce Power will be working together to advance isotope production technology.”
– Kenneth Craig
Mayor of Kincardine

“Through the Gamzook’aamin aakoziwin partnership, Saugeen Ojibway Nation, in collaboration with Bruce Power, is leading a made in Ontario solution that saves lives and drives innovation. With the province’s support, this investment in the expanded partnership of isotope production will secure a reliable supply of cancer fighting treatments, create new jobs, advance economic reconciliation and strengthen Ontario’s global leadership in health care, all while delivering lasting benefits to communities across Bruce County.”
– Luke Charbonneau
Warden of Bruce County and Mayor for the Town of Saugeen Shores

Additional Resources

Media Contacts

Sarah Chapin
Minister Bethlenfalvy’s Office
Sarah.Chapin@ontario.ca

Scott Blodgett
Communications Branch
Scott.Blodgett@ontario.ca

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