Hyundai Engineering targets global SMR market with US partnerships
Hyundai Engineering is stepping up its push into the global small modular reactor (SMR) market, signing agreements with two U.S. nuclear technology developers to pursue demonstration projects involving next-generation reactor designs. The Korean engineering company said Tuesday it signed memorandums of understanding with Nano Nuclear Energy, known as NNE, and ARC Clean Technology to explore…
Hyundai Engineering is expanding its reach into the global small modular reactor (SMR) market, signing agreements with two U.S. nuclear technology firms to collaborate on next-generation reactor demonstration projects. The Korean company announced memorandums of understanding with Nano Nuclear Energy (NNE) and ARC Clean Technology on Tuesday, as the demand for dependable, low-carbon electricity rises in tandem with the growth of artificial intelligence and data centers.
Through its partnership with NNE, Hyundai Engineering intends to contribute to the KRONOS micro modular reactor project at the University of Illinois Urbana-Champaign campus, which seeks to supply heat for the institution and advance carbon neutrality objectives. Both companies will investigate collaboration on engineering, procurement, construction for auxiliary reactor facilities, modular design assessments, supply chain development, and business planning.
NNE, based in New York and listed on Nasdaq, is currently developing a high-temperature gas-cooled microreactor.
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- Hyundai Engineering targets global SMR market with US partnerships koreatimes.co.kr