Hyundai Engineering targets global SMR market with US partnerships

Hyundai Engineering is stepping up its push into the global small modular reactor (SMR) market, signing agreements with two U.S. nuclear technology developers to pursue demonstration projects involving next-generation reactor designs. The Korean engineering company said Tuesday it signed memorandums of understanding with Nano Nuclear Energy, known as NNE, and ARC Clean Technology to explore cooperation on fourth-generation SMRs, as demand for reliable, low-carbon electricity grows alongside artificial intelligence and data center expansion. Under its agreement with NNE, Hyundai Engineering plans to support the KRONOS micro modular reactor project at the campus of University of Illinois Urbana-Champaign, aimed to provide heat for the campus and advance carbon neutrality goals. The companies will explore cooperation on engineering, procurement and construction for auxiliary reactor facilities, modular design reviews, supply chain development and business planning. NNE, headquartered in New York and listed on Nasdaq, is developing a high-temperature gas-cooled microreactor. Hyundai Engineeri