Jeong Gi-seon and Bill Gates Join Hands... Accelerating 'SMR Development'...

HD Hyundai and TerraPower Sign Agreement on Sodium Reactor Manufacturing
Establishing Manufacturing Base for Commercialization
"Next-Generation Energy"

HD Hyundai is partnering with TerraPower to develop Small Modular Reactors (SMR).

HD Hyundai announced on the 12th that its shipbuilding affiliate, HD Hyundai Heavy Industries, has signed a "Strategic Agreement to Expand the Manufacturing Supply Chain for the Commercialization of Sodium Reactors" with TerraPower, a US-based SMR development company. TerraPower was founded by Bill Gates, the founder of Microsoft (MS). The signing ceremony was attended by Jung Ki-sun, Senior Vice Chairman of HD Hyundai, Won Kwang-sik, Head of Marine Energy Business Division at HD Hyundai Heavy Industries, Bill Gates, founder of TerraPower, Chris Levesque, CEO, and other officials.

HD Hyundai recently signed a "Strategic Agreement to Expand the Manufacturing Supply Chain for the Commercialization of Sodium Reactors" with TerraPower. Attendees at the signing ceremony included Jung Ki-sun, Senior Vice Chairman of HD Hyundai (top right), Bill Gates, Founder of TerraPower (top left), and other officials. Photo by HD Hyundai

TerraPower has developed a sodium reactor that effectively absorbs heat generated from nuclear fission reactions and reduces waste production. The sodium reactor is a type of Generation IV reactor known as a Sodium-Cooled Fast Reactor. It produces electricity by cooling the heat generated from fission caused by fast neutrons with liquid sodium. TerraPower plans to complete a sodium reactor demonstration complex in Wyoming, USA, by 2030 and begin commercial operations.

Through this agreement, the two companies will combine HD Hyundai's manufacturing capabilities with TerraPower's SMR technology to commercialize the sodium reactor. HD Hyundai will research manufacturing methods to supply the main equipment installed in the sodium reactor. This will establish the manufacturing foundation necessary for full-scale commercialization beyond the initial demonstration project of the sodium reactor. Previously, in December last year, HD Hyundai signed a supply contract for the cylindrical reactor vessel to be installed in TerraPower's first sodium reactor.

Won Kwang-sik, Head of Marine Energy Business Division at HD Hyundai Heavy Industries, said, "We expect that HD Hyundai's extensive experience and advanced technology in manufacturing will contribute to building the commercialization foundation for the sodium reactor," adding, "Based on this cooperation, we will accelerate the commercialization of next-generation nuclear energy solutions and create new growth opportunities in the global SMR market."

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