South Korea’s HD Hyundai Group and Bill Gates, founder of the American nuclear reactor company TerraPower, held a meeting to conduct in-depth discussions on the expansion of the nuclear energy supply chain and the advancement of commercialization.
Recently, HD Hyundai Vice Chairman Chung Ki-sun met with the leadership of TerraPower in Seoul, South Korea, with the company’s Chairman and founder Bill Gates participating in this meeting. Both parties reviewed the progress in the expansion of the Natrium reactor supply chain and its commercialization, and discussed future cooperation opportunities.
This meeting was a reunion five months after the two sides held their first high-level talks in the United States in March of this year. During the previous meeting, HD Hyundai and TerraPower signed a Memorandum of Understanding (MOU) aimed at expanding the global manufacturing supply chain required for the commercialization of Natrium reactors.
TerraPower’s Natrium reactor utilizes a fourth-generation small modular reactor (SMR) sodium-cooled fast reactor (SFR) design and incorporates an integrated energy storage system. Leveraging its expertise in SMRs and manufacturing capabilities, HD Hyundai has signed a contract with TerraPower to supply the reactor vessel for its first Natrium reactor. The existing MOU allows the collaborating parties to jointly explore the expansion of the Natrium reactor supply chain to support the global commercialization of this technology.
Chung Ki-sun commented: “Next-generation SMR technology is a core solution for achieving a sustainable energy future. Our cooperation with TerraPower will become a turning point in building a global nuclear supply chain and driving the transformation of the energy paradigm.”
TerraPower President and CEO Chris Levesque stated: “HD Hyundai is not only a globally renowned shipbuilding company but also a key supply chain partner with profound manufacturing expertise that will play a significant role in the global nuclear industry. Through cooperation, both parties are committed to accelerating the commercialization process of Natrium reactors and continuously creating opportunities in the global market.”
HD Hyundai stated that it is currently increasing efforts to research and develop nuclear-powered ships and is cooperating with TerraPower to develop molten salt reactor (MSR) technology for application in the shipbuilding field.
