Leading Korean and U.S. Companies Kick Off Global SMR Project
Hyundai Construction Forms Alliance with TerraPower and HD Hyundai
Hyundai Construction has decided to expand its strategic cooperation with U.S. nuclear power company TerraPower to secure a leading position in the next-generation nuclear power plant market.
According to Hyundai Construction, on August 14 in Seoul, key management from the three companies—including Hanwoo Lee, CEO of Hyundai Construction; Bill Gates, Chairman of the Board at TerraPower; Chris Levesque, CEO of TerraPower; and Kisun Chung, Chairman of HD Hyundai—met to discuss collaboration plans for the commercial deployment and global expansion of next-generation nuclear power plants.
The participants agreed that TerraPower's Natrium project will serve as a critical milestone demonstrating the competitiveness of the next-generation nuclear power industry. They discussed ways to cooperate in order to accelerate commercialization based on the success of this project. TerraPower is currently constructing the first Natrium nuclear power plant unit in the state of Wyoming, United States. The parties also exchanged views on the possibility of expanding additional projects in the future and agreed to maintain close cooperation.
Hanwoo Lee, CEO of Hyundai Construction (left), is taking a commemorative photo after a meeting with Bill Gates, Chairman of the Board at TerraPower. Provided by Hyundai Construction
View original imageTerraPower, founded by Microsoft co-founder Bill Gates, is leading the next-generation nuclear market with the sodium-cooled fast reactor (SFR)-based Natrium nuclear power plant, which offers groundbreaking improvements in safety and cost efficiency. The partnership harnessing Hyundai Construction's engineering, procurement, and construction (EPC) capabilities and HD Hyundai's main equipment manufacturing expertise aims to expand the global energy market, centered on North America.
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A Hyundai Construction representative stated, "Following the 'Hyundai Construction-TerraPower-HD Hyundai Next-Generation Nuclear Power Project MOU' signed this May, this latest meeting has further solidified the strategic cooperation among the three companies. We will continue to strengthen collaboration to accelerate the global expansion of power infrastructure, from the commercialization of Natrium nuclear power plants to areas such as AI data centers."
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