HD Hyundai announced that Executive Vice Chairman Chung Kisun met in Seoul with TerraPower leadership, including chairman and founder Bill Gates, to discuss cooperation in the nuclear supply chain.
The companies reviewed progress on supply chain expansion and commercialization of Natrium reactors, five months after their initial meeting in the United States in March.
At that earlier meeting, the two sides signed a memorandum of understanding to expand the global manufacturing supply chain for Natrium reactors.
HD Hyundai has signed a contract to supply reactor vessels, a key component of Natrium reactors, which are described as a Generation IV small modular reactor sodium-cooled fast reactor design with integrated energy storage.
The company stated that the technology is recognized for high thermal efficiency, safety features, and reduced nuclear waste compared to conventional reactors.
Chung Kisun said, “Next-generation SMR technology is a core solution for realizing sustainable future energy. Our partnership with TerraPower will serve as a turning point in building a global nuclear supply chain and advancing the transition in the energy paradigm.”
Chris Levesque, President and CEO of TerraPower, said, “HD Hyundai is not only a premier, globally recognized shipbuilder but also a key supply chain partner with deep manufacturing expertise which will play an important role in the global nuclear industry. Through our collaboration, we aim to accelerate the commercialization of Natrium reactors and continue creating global opportunities in the market.”
HD Hyundai also reported ongoing efforts to develop nuclear-powered vessels, including work with TerraPower on molten salt reactor technologies for potential use in shipbuilding.
HD Hyundai Co., Ltd. is a South Korea–based holding company that oversees subsidiaries in heavy industry, shipbuilding, energy, and machinery. It was established as a restructuring entity in 2021 under Korea Shipbuilding & Offshore Engineering and serves as a parent for multiple industrial businesses.
TerraPower, LLC is a privately held nuclear innovation company founded in 2006 and headquartered in Bellevue, Washington, United States. It develops advanced nuclear reactor technologies and related energy solutions.