Hyundai Engineering is intensifying its entry into the global small modular reactor (SMR) market by collaborating with U.S. next-generation nuclear power developers. The company plans to leverage its existing nuclear design capabilities to participate in fourth-generation reactor demonstration projects and expand its business scope from design to engineering, procurement, and construction (EPC).
On October 27, Hyundai Engineering announced that it has signed memorandums of understanding (MOU) with NANO Nuclear Energy (NNE) and ARC Clean Technology (ARC) to pursue participation in fourth-generation SMR demonstration projects.
The signing ceremony with ARC took place at Hyundai Engineering's headquarters in Jongno-gu, Seoul, where CEO Joo Woo-jung and ARC CEO James Wolf were present to commemorate the partnership for the sodium-cooled fast reactor (SFR)-based SMR initial project.
ARC is developing the 'ARC-100,' a 100 MW sodium-cooled fast reactor. The company is collaborating with Battelle Energy Alliance (BEA), which operates the Idaho National Laboratory (INL), to establish a commercial demonstration plant with a capacity of approximately 200 MW on the laboratory's site.
Plans are also being considered to expand the project scale to about 600 MW. Hyundai Engineering and ARC will explore EPC collaboration and new business opportunities as the project progresses.
Earlier, on October 23, a similar signing ceremony was held with NNE, attended by Joo and NNE CEO James Walker.
NNE, based in New York, is developing a high-temperature gas-cooled reactor (HTGR) and a micro modular reactor (MMR). The two companies will collaborate on the 'KRONOS MMR initial project' at the University of Illinois Urbana-Champaign (UIUC) campus, aiming for heat supply and carbon neutrality on campus. Hyundai Engineering plans to participate in EPC collaboration for reactor auxiliary facilities, modular design review, supply chain development, and business development.
Hyundai Engineering is positioning its accumulated nuclear design capabilities as a competitive advantage for entering the global SMR market.
A Hyundai Engineering representative stated, "Our accumulated nuclear design expertise and experience in executing large plants have laid the foundation for collaboration with global SMR companies. We aim to strengthen our capabilities across the entire project cycle from design to EPC and grow as a trusted key partner in the global SMR market through this demonstration project participation."
* This article has been translated by AI.
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