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  5. ARE: 1) For these listed firms, which ones have the strongest link to the nuclear energy field? [Aecon Group Inc.]
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Investment Q&A

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Q: 1) For these listed firms, which ones have the strongest link to the nuclear energy field?
2) I have a fair sized holding in WSP but am eager to branch out for diversification purposes to either STN or ATRL. I see from other questions, 5i's seems to favour STN as a compliment to WSP. How strong is STN in the nuclear field (their website suggests some capability)?
With thanks.
Asked by David C. on July 10, 2025
5i Research Answer:

These companies do not specifically break out revenue exposure for the sector. But based on announced contract wins and exisiting facilities, we believe ATRL has the most exposure of this group. STN has a dedicated Nuclear Solutions team that supports the energy transition through the application of small modular reactors (SMRs) and micro modular reactors (MMRs), providing design, engineering, and project management services for nuclear projects worldwide. Stantec is engaged in strategic industry partnerships and is involved in initiatives for the advancement of new nuclear power technologies, including advanced Gen IV reactors. STN has also been a contract on uranium mines, which of course serve the sector. It is just hard to quantify its exposure based on public disclosure. We would still see WSP/STN as the best combination for the Canadian sector.