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Won Kwang-sik, Head of the Offshore Energy Business Division at HD Hyundai Heavy Industries (left), and Chris Levesque, CEO of TerraPower, shake hands on May 19 (local time). (Photo: HD Hyundai) |
[Alpha Biz= Paul Lee] SEOUL, May 21 — HD Hyundai is accelerating its entry into the global small modular reactor (SMR) market through a strategic partnership with U.S.-based nuclear innovation firm TerraPower, founded by Bill Gates.
According to industry sources, HD Hyundai Heavy Industries signed a Front-End Agreement (FA) with TerraPower in New York on May 19 (local time) to supply key equipment for sodium-cooled reactors. The agreement positions the Korean shipbuilder as a preferred bidder for manufacturing and supplying major reactor system components.
The deal marks a tangible outcome of Chairman Chung Kisun’s long-term SMR strategy, which has included multiple meetings with Bill Gates to advance collaboration. HD Hyundai first invested $30 million in TerraPower in 2022 and has since expanded its partnership through additional investments and manufacturing contracts, including reactor vessel production for TerraPower’s Wyoming-based Natrium project.
Industry officials said the partnership is expected to strengthen HD Hyundai’s foothold in the global SMR market while supporting TerraPower’s efforts to commercialize next-generation nuclear technology.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
