- Chung Ki-sun meets Bill Gates in Seoul to review Natrium progress.
- Hyundai to supply reactor vessel for Wyoming Natrium project.
- $30 million Hyundai investment underscores TerraPower confidence.
HD Hyundai, the top shipbuilding group in South Korea, is deepening its partnership with Bill Gates’ nuclear energy venture, TerraPower. The company recently announced that Executive Vice Chairman Chung Ki-sun had a meeting with Gates in Seoul to explore collaboration on small modular reactor (SMR) projects, reports Interesting Engineering.
Meeting in Seoul
The meeting took place at the Conrad Seoul in Yeouido, where Chung, Gates, and TerraPower executives discussed the progress of the Natrium reactor—a cutting-edge fourth-generation design that utilises a sodium-cooled fast reactor (SFR) system. This conversation followed an agreement made back in March in the United States, where HD Hyundai and TerraPower pledged to work together on creating a manufacturing and supply network for Natrium reactors.
Natrium Reactor for Wyoming Project
TerraPower is in the process of constructing a 345-megawatt Natrium reactor in Kemmerer, Wyoming. As part of a contract signed in December, HD Hyundai is set to manufacture and supply the reactor vessel, which is responsible for containing the core and coolant. This vessel is being developed at HD Hyundai’s specialised SMR facility in Ulsan. The group had previously shown its confidence in TerraPower with a $30 million investment made in November 2022 through HD Korea Shipbuilding & Offshore Engineering.
Technology Advantages of Sodium-Cooled Reactors
Among the various SMR technologies, sodium-cooled fast reactors stand out as particularly advanced. Instead of using water, they rely on liquid sodium, which has a boiling point of 883°C (1,621°F), allowing for high-temperature operations. This design offers several benefits:
- Enhanced thermal efficiency
- Improved safety
- Up to a 40% reduction in nuclear waste compared to traditional reactors
HD Hyundai sees SMRs as a crucial part of the future global energy landscape. According to MarketsandMarkets, the global SMR market is projected to grow from $5.7 billion in 2022 to $6.8 billion by 2030.
Expanding into Marine Nuclear Energy
HD Hyundai is making a significant investment of 300 billion won (about $215.4 million) to develop next-generation ship propulsion systems, which include small modular reactors (SMRs) and hydrogen fuel cells. The company has set its sights on launching marine SMRs by 2030. In addition, they are teaming up with TerraPower to work on molten chloride fast reactors designed for marine applications, a strategic move considering China’s swift advancements in SMR-powered vessels.
Vision for Nuclear-Powered Shipping
When it comes to the vision for nuclear-powered shipping, the shipbuilder has already introduced a concept for a 15,000 TEU containership that runs on SMRs, and it has received preliminary approval from the American Bureau of Shipping (ABS).
Other innovative nuclear concepts in the pipeline include:
- A 240 MW SMR-powered floating barge platform
- A hydrogen production topside platform
Both of these designs have also gained ABS’s approval in principle. Chung Ki-sun referred to the partnership with TerraPower as a turning point for establishing global nuclear supply chains. TerraPower’s CEO, Chris Levesque, highlighted the importance of HD Hyundai’s manufacturing capabilities for the successful deployment of these reactors.
Bill Gates’ Broader Engagement in Korea
On a broader note, Bill Gates recently met with SK Group Chairman Chey Tae-won in Seoul, where they discussed potential collaborations in biotechnology, energy, and artificial intelligence.
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Source: Interesting Engineering
