Reviewing Implementation of MOU Signed in March
Discussing Supply Chain Expansion and Execution Strategies
Jung Kiseon, Senior Vice Chairman of HD Hyundai, met with Bill Gates, Chairman and Founder of TerraPower, a leading next-generation nuclear power company in the United States, to discuss ways to collaborate on the commercialization of sodium reactors.
On August 22, HD Hyundai announced that Senior Vice Chairman Jung held a meeting with Chairman Gates and the TerraPower management team to review the progress of expanding the sodium reactor supply chain and the commercialization process. This meeting was held to check on the implementation of the Memorandum of Understanding (MOU) signed in the United States in March and to further concretize future execution strategies.
In March, HD Hyundai signed a strategic agreement with TerraPower to expand the manufacturing supply chain for the commercialization of sodium reactors. From the right in the photo: Wonkang Sik, Head of Marine Energy Business Division at HD Hyundai Heavy Industries, Ki Sun Jung, Senior Vice Chairman of HD Hyundai, Bill Gates, Founder of TerraPower, and Chris Leveck, CEO. Provided by HD Hyundai
The sodium reactor developed by TerraPower is a fourth-generation small modular reactor (SMR) using the sodium-cooled fast reactor (SFR) method, which features energy storage capabilities. It produces 40% less nuclear waste compared to conventional reactors and offers higher thermal efficiency and enhanced safety, making it a promising next-generation nuclear power technology.
HD Hyundai plans to supply key equipment such as reactor vessels, leveraging its manufacturing capabilities in the SMR sector. Both companies are also exploring ways to expand the supply chain for global commercialization.
Senior Vice Chairman Jung Kiseon stated, "Next-generation SMR technology is a core solution for realizing a sustainable energy future. Collaboration between our two companies will serve as a catalyst for building a global nuclear power supply chain and accelerating the transformation of the energy paradigm."
Chris Leveck, CEO of TerraPower, said, "HD Hyundai is the world’s leading shipbuilder and a key supply chain partner with manufacturing expertise. Through this collaboration, we will accelerate the commercialization of sodium reactors and continue to create new opportunities in the global market."
Meanwhile, HD Hyundai, together with TerraPower, has also begun developing molten salt reactor technology applicable to the shipbuilding sector and is pursuing the development of SMR-powered vessels.
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