Hyundai Engineering Accelerates Global SMR Push

Hyundai Engineering CEO Joo Woo-jung (left) and NNE CEO James Walker (right), who attended the ‘Hyundai Engineering-NNE MMR First Unit Project Cooperation MOU Signing Ceremony’ held at Hyundai Engineering headquarters in Jongno-gu, Seoul, on Oct. 23, pose for a commemorative photograph.(Photo=Hyundai Engineering) Hyundai Engineering is stepping up its push into the global next-generation nuclear power market by consecutively joining hands with U.S. small modular reactor (SMR) developers. Hyundai Engineering said on Oct. 27 that it has signed memorandums of understanding (MOUs) with Nano Nuclear Energy (NNE) and ARC Clean Technology (ARC), both next-generation nuclear power developers in the United States, and will pursue participation in fourth-generation SMR demonstration projects. On Oct. 23, Hyundai Engineering signed an MOU with Nasdaq-listed NNE for cooperation on the first micro modular reactor (MMR) unit project. The two companies will cooperate on the 'KRONOS MMR first unit project,' which aims to supply heat and achieve carbon neutrality at the University of Illinois Urbana-Champaign campus in the United States. Hyundai Engineering plans to take charge of EPC (Engineering, Procurement, and Construction) for reactor auxiliary facilities, review modular design, and establish the supply chain. Then, on Oct. 27, it agreed with ARC to cooperate on a first-unit project for a sodium-cooled fast reactor-based SMR. ARC is currently pursuing the construction of a 200MWe commercial demonstration plant at the site of Idaho National Laboratory (INL) in the United States. Hyundai Engineering also agreed to carry out EPC cooperation and jointly explore new business opportunities in the project, which is expected to be expanded to 600MWe in the future. A Hyundai Engineering official said, "The accumulated design expertise and experience in executing large-scale plants have become the foundation for global cooperation," adding, "Using participation in demonstration projects as an opportunity, we will strengthen our full-cycle business capabilities and grow into a trusted partner in the global SMR market."