HD Hyundai expands reactor partnership with TerraPower

May 21, 2026, 09:09 am

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Won Kwang-sik (left), head of the Marine Energy Business Division at HD Hyundai Heavy Industries, and Chris Levesque, CEO of TerraPower, pose for a photo after signing a framework agreement on sodium reactor supply in the United States. /HD Hyundai

HD Hyundai is accelerating its entry into the global small modular reactor (SMR) market by expanding cooperation with US nuclear innovation company TerraPower on next-generation sodium reactor technology.

The company said May 21 that its shipbuilding affiliate HD Hyundai Heavy Industries recently signed a framework agreement with TerraPower in the United States covering the supply of sodium reactors.

The signing ceremony was attended by Won Kwang-sik, head of HD Hyundai Heavy Industries’ Marine Energy Business Division, and Chris Levesque.

Under the agreement, HD Hyundai Heavy Industries was selected as the preferred negotiating partner for the production and supply of key equipment for TerraPower’s reactor containment system, a core component of its sodium reactor technology.

The company said it plans to leverage its expertise in manufacturing large-scale structures and marine and energy facilities to participate in TerraPower’s reactor commercialization process.

The latest agreement follows a strategic partnership signed by the two companies in March last year aimed at expanding the manufacturing supply chain for commercialization of sodium reactors.

Over the past year, the companies have jointly reviewed manufacturing feasibility, cost competitiveness and delivery schedules for sodium reactor systems.

HD Hyundai had previously secured an order from TerraPower in December 2024 for a cylindrical reactor vessel and is currently producing the equipment.

The company plans to expand cooperation from demonstration projects to future commercial reactor models based on that experience.

TerraPower’s sodium reactor is a fourth-generation sodium-cooled fast reactor that is considered one of the safest and most technologically advanced SMR designs currently under development.

TerraPower has been focusing on building a reliable supply chain for key equipment as part of its strategy to commercialize next-generation nuclear power plants, and the latest agreement further strengthens cooperation with HD Hyundai.

According to market research firm Fortune Business Insights, the global nuclear energy market is projected to grow from $40.4 billion in 2025 to $52.6 billion by 2034, representing annual average growth of around 3%.

Won said the agreement would serve as an important foundation for strengthening the strategic partnership with TerraPower and advancing into the global SMR market.

“Through joint research, we will supply sodium reactor equipment in a timely manner and establish a continuous production system to secure global competitiveness,” he said.

Levesque said the partnership would help establish the foundation for commercialization of sodium reactors in the United States and global markets.

“With HD Hyundai’s expertise and manufacturing capabilities, we will be able to supply reliable and economical nuclear energy on a large scale,” he said.

#HD Hyundai #HD Hyundai Heavy Industries #TerraPower #SMR #sodium reactor