The shipbuilding subsidiary of South Korea’s HD Hyundai has been selected as the preferred manufacturer for TerraPower’s natrium reactor enclosure system components, one of a series of agreements aimed at “the rapid commercialization and deployment of a fleet of natrium…plants in the coming years.”
Along with the signing of the framework agreement with HD Hyundai Heavy Industries, making it TerraPower’s strategic manufacturing partner, a separate MoU was agreed upon between TerraPower, HD Hyundai and Hyundai Engineering & Construction to “collaborate on the design, manufacturing, supply chain, construction, commercial structuring and delivery of multiple units of TerraPower’s Natrium technology.”
HD Hyundai said it would “establish a strong foundation for engineering, procurement and construction execution and supply of key equipment, which will enable an aggressive response to the global next generation nuclear power market, including the US”.
TerraPower’s Natrium technology consists of a 345 MW sodium-cooled fast reactor with a molten salt-based energy storage system. Storage technology can temporarily boost the system’s output by up to 500 MW when needed, allowing the plant to follow daily electrical load changes and seamlessly integrate with fluctuating renewable resources. TerraPower began non-nuclear construction for its first natrium plant in Kemmerer, Wyoming, in June 2024, and expects construction of the plant – which it says will be the first commercial-scale, advanced nuclear project in the United States – to be completed in 2030. The first Natrium project is being developed through the U.S. Department of Energy’s Advanced Reactor Demonstration Program. The Natrium reactor is a TerraPower and GE Vernova Hitachi nuclear power technology.
Chris Levesque, President and CEO of TerraPower, said: “By combining our strengths, we are creating a new era of energy infrastructure – where advanced reactors like Natrium are deployed at scale to meet growing demand, strengthen the supply chain, and provide reliable, flexible, affordable power.”
Kwang-shik Won, senior executive vice president and COO of HD Hyundai Heavy Industries, said the framework agreement was an “important foundation for our entry into the global nuclear market.” He said: “Through our agreement, we will strive to establish a serial production base to ensure timely supply of natrium reactor equipment and gain a strong global competitive edge.”
In TerraPower’s announcement, it said the collaboration aimed to “leverage US innovation and Korean industrial expertise for advanced reactor deployment, supporting the global shift toward innovative, next-generation nuclear technologies”.
It said the agreement with HD Hyundai Heavy Industries “secured a scalable supply chain for the serial production of natrium reactors” and followed “a thorough review of its manufacturing capabilities, large-scale industrial production expertise and proven track record in precision manufacturing for the energy sector”.
HD Hyundai said the agreement was an extension of the Strategic Agreement for Manufacturing Supply Chain Expansion for Commercialization of Natrium Reactors signed in March 2025. It said that during the past year, the two companies had conducted a joint study to evaluate the manufacturing feasibility, cost competitiveness and delivery schedule for the Natrium reactor.
In addition to the first natrium plant under construction, TerraPower – whose chairman is Microsoft co-founder Bill Gates – has signed a deal with Facebook and Instagram owner Meta for eight natrium plants by 2035. In January, South Korea’s SK Innovation transferred a portion of its stake in TerraPower to Korea Hydro & Nuclear Power.
