Bruce Power has continued to perform for Ontarians delivering clean, reliable, low-cost power and medical isotopes while supporting communities and people throughout the province.
Mike Rencheck’s leadership in guiding Bruce Power and supporting local communities through the COVID-19 pandemic has earned the company’s President and CEO with the Ontario Business Achievement Awards’ (OBAA) CEO of the Year honour for 2020.
The OBAAs, hosted by the Ontario Chamber of Commerce, is the most recognized industry gala in Ontario focused on celebrating business success. This annual awards gala, which aired virtually earlier today,celebrates the incredible innovations and achievements of a broad range of industry sectors and sizes from across the province.
Since joining Bruce Power in 2016, Rencheck has overseen the company’s operations, isotope programs, and community and economic development efforts while launching a $13-billion Life-Extension Program to extend the operation of its eight nuclear units to 2064. The Life-Extension Program, the largest private-sector infrastructure project in Canada, includes the Major Component Replacement Project.
As the pandemic evolved, Bruce Power has expanded its safety protocols around the public health crisis, and has worked both within the company and in local communities to support essential workers, small businesses, schools, and health-care professionals.
“I’m extremely grateful to the Ontario Chamber of Commerce for the OBAA award and I accept it on behalf of our employees whose collective efforts have kept us safe and healthy through a very challenging 2020,” Rencheck said. “We have been able to continue safe and reliable operations on our site, and at the same time, work with our suppliers, elected leaders, businesses and organizations to help people in our communities through this public health crisis.
“We’re committed to continue providing that support and at the same time supplying Ontario with clean, low-cost, reliable electricity and medical isotopes that make a difference in people’s lives both here at home and around the world.”
When the pandemic struck in March, Rencheck quickly rallied the company and its supply chain to secure personal protective equipment (PPE) for frontline and health-care workers in Bruce, Grey and Huron counties, and to other parts of Ontario as needs arose. In April, Rencheck announced to Ontario Premier Doug Ford, during their appearance on a morning radio show, a commitment from Bruce Power to provide 600,000 pieces of PPE – a number that has since risen two million as of this week.
During the COVID crisis, Bruce Power has participated in – and often led – several programs to help others. They included raising more than $500,000 for area food banks; coordinating with suppliers to raise more than $380,000 for local and national organizations facing funding shortfalls in 2020; splitting a $400,000 donation with the Power Workers’ Union to the University Health Network for the research and development of ventilators to treat COVID patients; and funding the creation of the Grey Bruce Huron Strong app to support local businesses.
In 2020, Bruce Power has had two successful harvests of Cobalt-60, used for the sterilization of medical equipment and for the treatment of certain forms of cancer. The company has harvested enough Cobalt-60 to sterilize up to 25 billion pairs of gloves or COVID-19 swabs.
Under Rencheck’s leadership, Bruce Power also established a community economic development platform that has led to over 60 companies moving into Grey, Bruce and Huron counties, implemented a long-term strategy to engage over 480 provincial companies in Bruce Power’s efforts, created opportunities for Indigenous communities and businesses, and created the Retooling and Economic Recovery Council to support the province’s made-in-Ontario economic recovery program. Speaking to the Empire Club of Canada earlier this month, Rencheck unveiled the company’s Net Zero 2050 strategy to help Canada eliminate greenhouse gas emissions by 2050.
“We are extremely proud to honour Mike Rencheck as CEO of the Year,” said Rocco Rossi, President and CEO, Ontario Chamber of Commerce. “He has contributed significantly to the prosperity of communities across the province. Under Mike’s leadership, Bruce Power has continued to produce 30 per cent of Ontario’s electricity at 30 per cent less than the average cost to generate residential power, and the company continues its production of medical isotopes to support health care across Canada and internationally.”
About Bruce Power
Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable, low-cost nuclear power to families and businesses across the province. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram and YouTube.