TerraPower announced two major agreements with South Korean companies Hyundai Engineering & Construction (HDEC) and SK Innovation. The goal is to build and sell their new Natrium nuclear technology in the United States, South Korea, and a few other international markets.

TerraPower was founded in 2006 by Bill Gates. The company plays a major role in developing advanced nuclear technologies. It is working on commercializing Natrium reactors, 345 MW sodium-cooled fast reactors with a molten salt-based energy storage system. The first Natrium plant is being developed through the U.S. Department of Energy’s Advanced Reactor Demonstration Program (ARDP).

Building a New Fleet of Reactors

A render of the future Natrium plant
A render of the future Natrium plant; Photo Credit: TerraPower

TerraPower picked HDEC to be its main contractor to build up to eight of these future Natrium reactors. This agreement comes with guarantees on price, performance, and completion dates, making it easier to get standard business funding to actually build the plants.

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TerraPower and HDEC hope to accelerate the rollout of the advanced reactors. This could be done because the partnership is meant to cut costs, make construction smoother, and strengthen the supply chains required to build these plants around the world.

New Tech Involved

Moreover, TerraPower signed an agreement with SK Innovation. The plan is to build South Korea’s very first commercial Natrium plant, along with plans to expand internationally.

The two companies also want to work together on digital tools for engineering. This includes using artificial intelligence and digital twin technology to improve how these plants run and are maintained.

“Today marks a pivotal moment for TerraPower as we embark on a new chapter of international collaboration with Korea’s leading organizations,” Chris Levesque, president and CEO of TerraPower, said. “Combining TerraPower’s innovative advanced nuclear technology with Korea’s nuclear construction and operational expertise will strengthen our global cooperation and accelerate the deployment of a Natrium fleet that will transform the world’s energy landscape.”