South Korean shipbuilding giant HD Hyundai is increasing its involvement in advanced nuclear energy by signing a framework agreement with TerraPower to help commercialize the Natrium nuclear reactor platform. TerraPowe...
South Korean shipbuilding giant HD Hyundai is increasing its involvement in advanced nuclear energy by signing a framework agreement with TerraPower to help commercialize the Natrium nuclear reactor platform.
TerraPower, an energy company backed by Bill Gates, is working on the Natrium reactor, which is an advanced, next-generation small modular nuclear reactor (SMR).
This agreement allows HD Hyundai Heavy Industries to be the preferred manufacturer for important components of the Natrium Reactor Enclosure System (RES), utilizing the company’s extensive experience in heavy fabrication and large-scale production gained from years in shipbuilding and offshore construction.
The deal follows a year-long joint study between the two companies that examined manufacturing feasibility, production timelines, and cost competitiveness for TerraPower's Natrium reactor design. They aim to move beyond initial deployment of the technology toward mass production of future units.
TerraPower’s Natrium reactor operates using sodium-cooling and includes molten salt energy storage technology. This fourth-generation reactor design has attracted significant interest as governments and power companies seek scalable low-carbon energy solutions to meet the rising electricity demands from industries, AI, and electrification.
“Creating a Framework Agreement with HD Hyundai guarantees that we will have the production capacity needed to support our commercialization plans and construct Natrium plants throughout the U.S. and globally,” said Chris Levesque, President and CEO of TerraPower.
HD Hyundai stated that this agreement marks an important step in its expansion into the global nuclear energy market, which increasingly overlaps with maritime industrial capabilities including heavy steel fabrication, modular construction, and offshore energy infrastructure.
This announcement also adds to the growing interest in nuclear-related maritime technologies. Earlier this year, ABS announced joint studies with HD Hyundai affiliates on concepts for nuclear-powered commercial ships, such as container vessels and floating small modular reactor platforms.
Additionally, HD Hyundai has signed a tripartite memorandum of understanding with TerraPower and Hyundai Engineering & Construction to cooperate on future engineering, procurement, and construction (EPC) tasks related to next-generation nuclear projects.
This agreement comes as the United States and its allies work to strengthen domestic and international nuclear supply chains in response to rising competition with China and Russia in advanced reactor technology.