Hyundai Engineering and Construction expands global nuclear lineup through U.S. 4th-generation SMR cooperation

[Financial News] Hyundai Engineering and Construction is expanding the foundation to take part in the early design review and, later, the design, procurement and construction (EPC) of a fourth-generation small modular reactor (SMR) project in the United States.
According to Hyundai Engineering and Construction on the 14th, the company signed a framework agreement on the 13th local time with U.S. SMR developer First American Nuclear (FANCO) at the InterContinental New York Times Square Hotel in New York to cooperate on the EAGL-1 project.
EAGL-1 is an SMR based on a liquid metal-cooled fast reactor (LMFR) that uses a lead-bismuth (Pb-Bi) alloy as coolant. A single reactor has a power output of about 240 MWe. The company said six units built in a cluster could supply electricity to about 1.2 million households.
By recycling spent nuclear fuel, the system can cut long-lived radioactive waste by more than 95%. It can also be applied as a bridge power solution, enabling a gradual shift from gas-fired generation to nuclear power. FANCO is moving through the commercialization process, including submitting a pre-application plan to the U.S. Nuclear Regulatory Commission (NRC).
Based on the agreement, the two companies will discuss the design of the nuclear power balance of plant (BOP), support for the bridge power solution, constructability reviews and modularization strategies. Hyundai Engineering and Construction also plans to explore practical measures to join the EAGL-1 project as an EPC partner in the future. The strategy appears aimed at securing future EPC opportunities by taking part in design and construction reviews from the early stages of the U.S. nuclear regulatory process.
Hyundai Engineering and Construction has previously cooperated with Holtec on third-and-a-half-generation light-water SMRs, with TerraPower on sodium-cooled fast reactors (SFR), and with Torizon in the molten salt reactor (MSR) field. With this agreement on a lead-bismuth-cooled fast reactor, the company has now established a business base spanning major fourth-generation reactors.
A Hyundai Engineering and Construction official said, "Through strategic cooperation with FANCO, we will support the successful commercialization of EAGL-1 and solidify our leading position in the U.S. SMR market."

en1302@fnnews.com Jang In-seo Reporter