HD Hyundai is accelerating its entry into the next-generation reactor supply chain of TerraPower, a leading US nuclear innovation company. Beyond its existing cooperation in manufacturing reactor vessels, HD Hyundai is broadening its foundation in the global Small Modular Reactor (SMR) market by securing preferred negotiator status to supply core equipment for Natrium reactor primary systems.

On May 21, HD Hyundai announced that its shipbuilding subsidiary, HD Hyundai Heavy Industries (HHI), recently signed a master agreement for the supply of Natrium reactors with TerraPower in the United States. The signing ceremony was attended by Won Kwang-sik, head of the Offshore & Energy Business Division at HD Hyundai Heavy Industries, and Chris Levesque, CEO of TerraPower.

Under the agreement, HD Hyundai Heavy Industries has been selected as the preferred negotiator to manufacture and supply critical components for the reactor containment system, which serves as the primary apparatus for TerraPower's Natrium reactor. Leveraging its long-standing capabilities in large-scale structural manufacturing and extensive experience in offshore and energy facility production, HHI will actively participate in the commercialization process of TerraPower's reactors.

This agreement serves as a follow-up to the strategic agreement for manufacturing supply chain expansion for the commercialization of Natrium reactors signed between the two companies in March last year. Over the past year, both parties have thoroughly reviewed the manufacturing feasibility, cost competitiveness, and delivery schedules for the Natrium reactor systems.

Previously, in December 2024, HD Hyundai secured an order from TerraPower for a cylindrical reactor vessel, which is currently under construction. Based on its execution experience from this initial demonstration project, the company plans to expand the scope of its partnership to include future commercial models.

The Natrium reactor is a fourth-generation sodium-cooled fast reactor developed by TerraPower. It is widely evaluated as possessing the highest level of safety and technical maturity among existing SMR models. Establishing a robust supply chain for critical equipment has been a primary objective for TerraPower to facilitate the commercial deployment of next-generation nuclear power plants, and this agreement strengthens its cooperative relationship with HD Hyundai.

According to market research firm Fortune Business Insights, the global nuclear power market is projected to grow from 40.4 billion dollars in 2025 to 52.6 billion dollars by 2034, expanding at an average annual growth rate of roughly 3%.

"This agreement will reinforce our strategic partnership with TerraPower while serving as a critical cornerstone for our expansion into the global SMR market," said Won Kwang-sik, head of the Offshore & Energy Business Division at HD Hyundai Heavy Industries. "Through joint research, we will ensure the timely delivery of Natrium reactor equipment and build a foundation for continuous production to secure a competitive edge globally."

Chris Levesque, CEO of TerraPower, remarked, "Through this partnership, we have solidified the foundation for the commercialization of Natrium nuclear power plants in global markets, including the United States. Driven by HD Hyundai's expertise and manufacturing capabilities, we will be able to supply reliable and cost-effective nuclear energy on a large scale."