U.S. TerraPower, South Korea’s SK Innovation sign preliminary deal on global SMR projects
- On Friday, August 14, HD Hyundai Chairman Chung Kisun, TerraPower Board Chairman Bill Gates, and Hyundai Engineering and Construction CEO Lee Han-woo met in Seoul to discuss their trilateral reactor partnership.
- HD Hyundai aims to build capacity to produce 2–3 primary Natrium components annually, deepening Korea-U.S. cooperation as Chung stated the framework will "accelerate the commercialization of next-generation Natrium reactors."
- The Natrium reactor, a fourth-generation SMR, utilizes sodium coolant to deliver 345 megawatts of power, with storage systems capable of ramping to 500 megawatts during peak demand amid surging global SMR demand.
- Separately, TerraPower signed a preliminary global agreement with a Korean partner on Friday, while Doosan Enerbility secured a contract to manufacture key reactor components for the Natrium project in Kemmerer, Wyoming.
- Achieving SMR cost competitiveness requires "standardized mass deployment," which combines TerraPower's designs with Korea's manufacturing ecosystem, with the Natrium reactor in Kemmerer planned for commercial operation by 2031.
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US targets 8-reactor sodium-cooled nuclear fleet with South Korea
A US nuclear firm backed by American businessman and Microsoft co-founder Bill Gates has recently struck two deals to speed up the commercial deployment of its advanced Natrium reactors. On Friday, August 14, Washington-based TerraPower announced the agreements with South Korean companies Hyundai Engineering & Construction (HDEC) and SK Innovation. They came after a series of meetings with senior government and industry officials in Seoul. HDEC …
U.S. TerraPower, South Korea’s SK Innovation sign preliminary deal on global SMR projects - Regional Media News
SEOUL, Aug 14 (Reuters) - TerraPower and South Korea's SK Innovation signed on Friday a preliminary global agreement on small modular reactors (SMRs), Seoul's Industry Ministry said, opening a path for the SK Group affiliate to participate in the U.S. company's projects at home and abroad. The agreement was signed at a meeting in Seoul between TerraPower co-founder Bill Gates, SK Group Chairman Chey Tae-won and Industry Minister Kim Jung-kwan, t…
U.S. TerraPower, South Korea’s SK Innovation sign preliminary deal on global SMR projects
SEOUL, Aug 14 (Reuters) - TerraPower and South Korea's SK Innovation signed on Friday a preliminary global agreement on small modular reactors (SMRs), Seoul's Industry Ministry said, opening a path for the SK Group affiliate to participate in the U.S...
(Seoul = Yonhap News) Reporter Kim Yu-hyang = HD Hyundai Heavy Industries [329180] rose more than 2% on the 14th.
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