The companies have committed to closer cooperation and expediting the SMR supply chain.
TerraPower’s advanced Natrium technology will be leveraged to establish a manufacturing base for commercialization.
“Extensive experience and advanced technological capabilities will create new opportunities in the global SMR market.”
SEOUL, South Korea, March 11, 2025 — HD Hyundai announced on Tuesday, March 11th, that it has entered into a strategic agreement with TerraPower. The agreement aims to expand the global manufacturing supply chain for Natrium reactors, thereby facilitating the swift commercialization of this advanced nuclear technology.
Chung Kisun, Executive Vice Chairman of HD Hyundai, and Bill Gates, the founder of TerraPower, met to discuss ways to accelerate the development and commercial deployment of Natrium reactors.
The signing ceremony saw the participation of Chung; Won Kwang-shik, Head of Marine Energy Business Division at HD Hyundai Heavy Industries; Bill Gates, founder and chairman of TerraPower; Chris Levesque, president and CEO of TerraPower; and other officials.
The Natrium reactor, a 4th generation sodium-cooled fast reactor developed by TerraPower, generates electricity by using liquid sodium to cool the heat produced from fast neutron fission. Among SMRs, it boasts high safety and technological maturity, and it also produces 40% less nuclear waste compared to traditional reactors.
Bill Gates and other forward-thinking individuals established TerraPower with the goal of creating advanced nuclear energy solutions that offer safe, reliable, and carbon-free power. The company is currently constructing the first Natrium plant in the western United States.
Through this agreement, the two companies will leverage HD Hyundai’s world-class manufacturing capabilities and TerraPower’s innovative technology to establish the commercial-scale production capacity necessary for the global deployment of Natrium reactors.
Specifically, HD Hyundai will focus on developing optimized manufacturing processes to supply essential Natrium reactor components. This will allow the company to build the manufacturing infrastructure required for full-scale commercialization, extending beyond the initial demonstration project.
Previously, in December 2024, HD Hyundai secured a supply contract with TerraPower to provide the cylindrical reactor vessel for installation in the first Natrium reactor.
Won stated, “We anticipate that HD Hyundai’s vast experience and advanced technological prowess in manufacturing will contribute to building the foundation for the commercialization of Natrium reactors. Based on this collaboration, we will expedite the commercialization of next-generation nuclear energy solutions and unlock new growth opportunities within the global SMR market.”
Levesque commented, “TerraPower is dedicated to rapidly deploying Natrium plants in the United States and across the globe. By partnering with HD Hyundai, we anticipate expanding the supply chain and successfully constructing Natrium reactors to address the increasing energy demand.”
SOURCE HD Hyundai
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