Hyundai Engineering & Construction Partners with U.S. SMR Developer on Next-Generation Nuclear Power Systems

Participation in Fourth-Generation SMR Project

Hyundai Engineering & Construction announced that on the 13th (local time) in New York, USA, it had signed a basic agreement with First American Nuclear Company (FANCO), a developer of small modular reactors (SMRs), to jointly carry out a next-generation nuclear power system project.

FANCO has developed the EAGL-1, a liquid metal fast reactor (LMFR) that is the only reactor model in the United States to use a liquid lead-bismuth alloy as its coolant. The company is laying the groundwork for commercialization by submitting a regulatory engagement plan to the U.S. Nuclear Regulatory Commission and taking additional preparatory steps.

The EAGL-1 is a next-generation SMR that generates approximately 240 MWe of power per reactor unit. Based on its modular design, a cluster of six reactors can supply electricity to about 1.2 million households. By recycling spent nuclear fuel, this technology can reduce the volume of long-lived radioactive waste, which is difficult to process, by more than 95%.

Young Choi, Executive Vice President of the New Energy Business Division at Hyundai Engineering & Construction (right), and Mike Lineboss, CEO of FANCO, are posing for a commemorative photo after signing the basic agreement on the 13th (local time). Provided by Hyundai Engineering & Construction.

Under this agreement, Hyundai Engineering & Construction and FANCO have decided to cooperate in the initial phase of the EAGL-1 nuclear power project. They will also explore implementation plans to participate as EPC (engineering, procurement, and construction) partners in the project in the future. FANCO, in collaboration with the state of Indiana, has announced plans to create a Nuclear Energy Park and is pursuing the construction of a next-generation nuclear power cluster that links nuclear power manufacturing facilities with energy complexes.

A Hyundai Engineering & Construction representative stated, "This agreement is significant as it provides Hyundai Engineering & Construction with the opportunity to participate from the preliminary design review to full EPC execution for the next-generation SMR project in the U.S., while also expanding its nuclear reactor partnership network in the U.S. Through strategic collaboration with FANCO, we will support the successful commercialization of EAGL-1 and strengthen our leading position in the rapidly growing U.S. SMR market."

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