DS Danseok Signs MOU on MMRs with US Nano Nuclear Energy

James Walker, CEO of Nano Nuclear Energy (left), and Kim Jongwan, CEO of DS Danseok, are taking a commemorative photo after signing an MOU for the development and commercialization of MMR technology. DS Danseok.

DS Danseok, a resource circulation energy company, announced on January 12 that it has signed a memorandum of understanding (MOU) with Nano Nuclear Energy (NNE), a next-generation nuclear reactor development company listed on the NASDAQ in the United States, for the domestic introduction and strategic cooperation regarding micro modular reactors (MMRs).

The partnership between DS Danseok and NNE aims to establish a mutual cooperation system for the development and commercialization of MMR technology, and to seek business opportunities in the domestic market based on this collaboration. MMRs are attracting attention as a future energy source because they are easier to install and offer higher safety compared to large-scale reactors, and can be operated efficiently as distributed power sources.

Through the agreement, the two companies plan to build a cooperative framework covering all aspects of commercialization, focusing on discovering MMR-based business models applicable to industrial sites in Korea, as well as technical review, cooperation in licensing procedures, and supply chain integration. In addition, they will review the phased introduction of MMRs in line with changes in the domestic regulatory environment.

The agreement between NNE and DS Danseok is regarded as the first case of cooperation between a global company possessing original MMR technology and a domestic company with an energy industry network and manufacturing capabilities. DS Danseok will be responsible for business execution and will materialize its vision of "One factory, One MMR," where each factory is powered by a single MMR.

James Walker, CEO of NNE, stated, "DS Danseok is a company with an understanding of the Korean industrial field and capabilities in the energy business. By jointly reviewing the application of MMR technology in Korea, we will implement an optimized business model and create a meaningful success story."

Han Seungwook, Chairman of DS Danseok, introduced, "This agreement with Nano Nuclear Energy, which holds a unique position in next-generation reactor technology, will be an important turning point in realizing carbon-neutral solutions." He added, "Following the establishment of cooperative frameworks last year with Korea Hydro & Nuclear Power Central Research Institute and Korea Institute of Energy Technology, we will gradually expand a carbon-free energy system based on MMRs by combining global nuclear power technologies."

NNE was listed on the NASDAQ in May 2024 and is a global leader in MMR development, focusing on mobile and on-demand small modular reactors that are differentiated from conventional nuclear power plants.