Canada selected TKMS as the preferred supplier for the Canadian Patrol Submarine Project in July 2026. The German shipbuilder and the Canadian government are now expected to begin formal contract negotiations.
GH Power may participate in Industrial and Technological Benefits initiatives under TKMS’s proposed Canadian industrial strategy. Any role would depend on government priorities, commercial qualification and definitive agreements between the companies.
The companies are working under an existing non-binding memorandum of understanding. They are assessing whether GH Power’s modular technology could support defence, maritime and industrial manufacturing in Canada.
GH Power’s reactor systems convert recycled or scrap metals and water into three commercial products. These are high-purity alumina, clean hydrogen and thermal energy for industrial use.
High-purity alumina is used in specialty ceramics, semiconductors, battery separators and advanced defence applications. GH Power said its technologies could also support shipbuilding, naval systems and domestic critical-material supply chains.
The potential cooperation covers three areas in GH Power’s commercialisation strategy. These include defence materials qualification, distributed industrial energy and onshore supply chains for Canadian and allied procurement.
“We believe TKMS’s selection for the Canadian Patrol Submarine Project marks an important milestone for our collaboration and establishes a strong foundation for definitive agreement discussions between TKMS and GH Power to support Canada’s future defense industrial base,” GH Power Chief Executive David White said. “Through this relationship, we believe we have the opportunity to demonstrate how GH Power’s proprietary technology could contribute to next-generation defense manufacturing while accelerating the commercialization of our clean hydrogen, advanced materials, and thermal energy platform.”
“Further, ITB participation, if awarded, would represent a category of non-dilutive funding tied to a large-scale Government of Canada procurement — a capital source we believe is well suited to accelerating our commercialization roadmap in critical materials and clean energy.” GH Power said such funding could support technology development, validation and commercialisation without diluting existing shareholders.
“The collaboration with GH Power gives us the opportunity to build a strong foundation for our future activities in Canada in support of the Canadian Patrol Submarine Project, especially in terms of sustainability and advanced technologies,” TKMS Chief Sales Officer Thomas Keupp said. “From the very beginning, TKMS has been committed not only to providing submarine capabilities, but also to establish a pioneering national industrial infrastructure.”
The memorandum does not require either company to enter into a further agreement. GH Power therefore has no confirmed role in the Canadian submarine programme at this stage.
The announcement follows GH Power’s proposed business combination with Matinas BioPharma Holdings. The transaction would make GH Power a wholly owned subsidiary of a new Ontario company expected to be called GH Power International.
Shares in the new company are expected to list on the NYSE American, subject to approval and applicable listing requirements. Existing GH Power shareholders are expected to own about 91% of the combined company at closing, subject to adjustment.
GH Power said the transaction could provide access to US capital markets for its commercialisation plans in North America and Europe. Completion remains subject to shareholder, regulatory, court, financing and exchange approvals.
