Chung Kisun, Executive Vice Chairman of the South Korean shipbuilding group HD Hyundai, met with TerraPower founder and Chairman Bill Gates and other representatives of the US company in Seoul on Friday.
According to both sides, the focus was on the expansion of the supply chain and progress in the commercialization of sodium reactors. HD Hyundai has already been commissioned to manufacture reactor pressure vessels for this new generation of reactors. Both companies are also investigating the use of SMR systems in shipping.
It was the first reunion since a meeting in the USA in March, when a Memorandum of Understanding (MoU) on global supply chain development for sodium technology was signed. HD Hyundai will supply the pressure vessels for the first sodium reactor. The Generation IV SMR in the form of a sodium-cooled fast reactor (SFR) with integrated energy storage is said to be particularly safe, efficient and technologically mature. According to the company, it produces around 40% less nuclear waste than conventional plants.
Focus on maritime applications
“The next generation of SMR technology is a key building block for sustainable energy,” explained Chung. The partnership with TerraPower should represent a turning point in the development of a global nuclear supply chain and the maritime energy transition.
TerraPower CEO Chris Levesque emphasized: “HD Hyundai is not only a leading global shipbuilder, but also a key supply chain partner with extensive manufacturing expertise.” The aim is to accelerate the commercialization of the sodium reactors and develop international market opportunities.
In addition, both companies are also working on Molten Salt Reactor (MSR) technologies, which could also be used in shipbuilding in the long term.
TerraPower was co-founded in 2006 by US billionaire Bill Gates and is regarded as a pioneer in the development of new types of nuclear reactors. The focus is on the sodium-cooled fast reactor with an electrical output of around 345 MW. In addition to electricity, the technology also generates high-temperature heat for industrial applications and has an integrated storage system that allows a flexible increase in output of up to 500 MW. The main aim is to replace decommissioned coal-fired power plants and continue to use existing infrastructure. The first demonstration power plant is being built in Wyoming and is scheduled to go online in 2030.
