? The companies agreed to work together to strengthen collaboration and accelerate SMR supply chain
? Combining TerraPower's advanced Natrium technology to build manufacturing foundation for commercialization
? "Will create new opportunities in global SMR market through extensive experience and advanced technological capabilities."
SEOUL, South Korea, March 11, 2025 /PRNewswire/ -- HD Hyundai announced on Tuesday the 11th that it signed a strategic agreement with TerraPower, to expand the global manufacturing supply chain for Natrium reactors, supporting the rapid commercialization of the advanced nuclear technology.
Chung Kisun, Executive Vice Chairman of HD Hyundai, and Bill Gates, founder of TerraPower, participated in the meeting where they discussed accelerating the development and commercialization of Natrium reactors.
The signing ceremony was attended by Chung; Won Kwang-shik, Head of Marine Energy Business Division at HD Hyundai Heavy Industries; Bill Gates, founder and chairman of TerraPower; Chris Levesque, president and CEO of TerraPower; and other officials.
The Natrium reactor is a 4th generation sodium-cooled fast reactor developed by TerraPower, which produces electricity by cooling the heat generated from fast neutron fission with liquid sodium. Among SMRs, it has high safety and technological maturity, and generates 40% less nuclear waste compared to conventional reactors.
Bill Gates and likeminded visionaries founded TerraPower with the mission of developing advanced nuclear energy solutions that provide safe, reliable, and carbon-free power. The company is actively building the first Natrium plant in the western United States.
Through this agreement, the two companies will combine HD Hyundai's world-class manufacturing expertise with TerraPower's cutting-edge technology to establish the commercial-scale production capacity needed for global Natrium deployment.
In particular, HD Hyundai will develop optimized manufacturing processes to supply key Natrium reactor components. Through this, the company will establish the manufacturing foundation necessary for full-scale commercialization beyond the initial demonstration project.
Previously, in December 2024, HD Hyundai signed a supply contract with TerraPower for the cylindrical reactor vessel to be installed in the first Natrium reactor.
"We expect that HD Hyundai's extensive experience and advanced technological capabilities in manufacturing will help build the foundation for commercialization of Natrium reactors," said Won. "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."
"TerraPower is working to rapidly deploy Natrium plants in the United States and around the world," said Levesque. "Through cooperation with HD Hyundai, we expect to expand the supply chain and successfully build Natrium reactors to meet growing energy demand."
SOURCE HD Hyundai
