HD Hyundai Moves Deeper Into Nuclear With TerraPower Reactor Supply Pact

South Korean shipbuilding giant HD Hyundai is expanding deeper into advanced nuclear energy after signing a framework agreement with TerraPower to support the commercialization of the Natrium nuclear reactor platform.

Bill Gates-backed energy company TerraPower is developing the Natrium reactor, an advanced, next-generation small modular nuclear reactor (SMR).

The agreement positions HD Hyundai Heavy Industries as a preferred manufacturer for key Natrium Reactor Enclosure System (RES) components, leveraging the company’s heavy fabrication expertise and industrial-scale production capabilities developed through decades of shipbuilding and offshore construction work.

The deal follows a year-long joint study between the companies evaluating manufacturing feasibility, production timelines, and cost competitiveness for TerraPower’s Natrium reactor design. The two firms said the collaboration is intended to move beyond First-of-a-Kind (FOAK) deployment toward serial production of future units.

TerraPower’s Natrium reactor is a sodium-cooled fast reactor paired with molten salt energy storage technology. The fourth-generation reactor design has drawn significant industry attention as governments and utilities look for scalable low-carbon baseload power solutions capable of supporting growing electricity demand from industry, AI infrastructure, and electrification.

“Establishing a Framework Agreement with HD Hyundai ensures that we have the production capacity available to support our commercialization plans and build Natrium plants across the U.S. and around the world,” said TerraPower President and CEO Chris Levesque.

HD Hyundai said the agreement represents a major step in its push into the global nuclear energy sector, an area increasingly overlapping with maritime industrial capabilities including heavy steel fabrication, modular construction, and offshore energy infrastructure.

The announcement also adds to growing momentum around nuclear-related maritime technologies. Earlier this year, ABS announced joint studies with HD Hyundai affiliates on nuclear-powered commercial ship concepts, including container vessels and floating small modular reactor platforms.

Separately, HD Hyundai signed a tripartite memorandum of understanding with TerraPower and Hyundai Engineering & Construction aimed at cooperating on future engineering, procurement, and construction (EPC) work tied to next-generation nuclear projects.

The agreement comes as the United States and allied nations push to rebuild domestic and partner-country nuclear supply chains amid rising geopolitical competition with China and Russia in advanced reactor technologies.

Editorial Standards · Corrections · About gCaptain

Subscribe for Daily Maritime Insights

Sign up for gCaptain’s newsletter and never miss an update

— trusted by our 105,806 members