HD Hyundai, TerraPower, Hyundai E&C set out to transform the next-gen nuclear market

HD Hyundai is partnering with TerraPower and Hyundai E&C to accelerate its push into the U.S. small modular reactor (SMR) market.

HD Hyundai said chairman Chung Kisun, TerraPower founder and chairman Bill Gates, TerraPower president and chief executive Chris Levesque, and Hyundai Engineering & Construction CEO Lee Han-woo met in Seoul on Aug. 14 to discuss the collaboration.

This was the first meeting among the top executives of the three companies since HD Hyundai, TerraPower and Hyundai E&C signed a trilateral memorandum of understanding in May to cooperate on next-generation sodium reactor projects.

At the meeting, chairman Chung and the other executives held in-depth discussions on a range of cooperation opportunities to commercialize land-based reactors, building on progress made to date.

“We expect this cooperative framework, which spans technology, manufacturing and EPC, to accelerate the commercialization of next-generation Natrium reactors,” chairman Chung Kisun said. “We will actively respond to growing demand for SMR-based power generation through our own technology development and collaboration with global companies.”

HD Hyundai has been refining the scope of its supply chain cooperation and plans to accelerate investment in production facilities ahead of commercialization,