Wedoany.com Report-Aug. 25, On August 22, HD Hyundai Executive Vice Chairman Chung Kisun met with TerraPower leadership, including Chairman and Founder Bill Gates, in Seoul, South Korea. The meeting focused on reviewing progress in expanding the nuclear supply chain and advancing the commercialization of Natrium reactors. It was the first follow-up discussion since the initial talks held in the United States last March.

During their previous meeting, HD Hyundai and TerraPower signed a memorandum of understanding (MOU) to expand the global manufacturing supply chain for Natrium reactors. TerraPower’s Natrium technology is a Generation IV small modular reactor (SMR) sodium-cooled fast reactor with integrated energy storage. Leveraging its expertise in SMR manufacturing, HD Hyundai has already signed a contract to supply reactor vessels for the first Natrium unit. The companies are now exploring opportunities to further strengthen the supply chain to support wider commercialization.

Kisun emphasized the importance of the collaboration: “Next-generation SMR technology is a core solution for realizing sustainable future energy. Our partnership with TerraPower will serve as a turning point in building a global nuclear supply chain and advancing the transition in the energy paradigm.”

Chris Levesque, President and CEO of TerraPower, added: “HD Hyundai is not only a … globally recognized shipbuilder but also a key supply chain partner with deep manufacturing expertise which will play an important role in the global nuclear industry. Through our collaboration, we aim to accelerate the commercialization of Natrium reactors and continue creating global opportunities in the market.”

Beyond power generation, HD Hyundai is also pursuing nuclear-powered vessel development. Together with TerraPower, the company is studying molten salt reactor (MSR) applications for shipbuilding. In November 2023, HD Korea Shipbuilding & Offshore Engineering (KSOE), a sub-holding company of HD Hyundai’s shipbuilding and offshore business, made an initial $30 million investment in TerraPower. The following year, it unveiled the design of an SMR-powered ship.

Since February 2024, HD KSOE and TerraPower have been engaged in joint research on advanced SMR technologies. By December of the same year, KSOE secured an order to manufacture major equipment for the Natrium reactor. Earlier this year, the company introduced a nuclear-powered containership model based on SMR technology, building on a 15,000 TEU design that had previously received approval in principle from the American Bureau of Shipping (ABS).

Christopher J. Wiernicki, Chairman and CEO of ABS, highlighted the potential of advanced nuclear technology, noting that it may represent a significant opportunity for the future of the US industrial sector.

The collaboration between HD Hyundai and TerraPower underscores the growing role of SMRs in both energy and maritime applications, demonstrating how nuclear technologies are being developed for broader use.