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TerraPower Inks Agreements With HDEC, SK Innovation for Commercialization of Natrium Reactors

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TerraPower Friday said it has reached a non-binding agreements with South Korea's Hyundai Engineering & Construction, or HDEC, and SK Innovation for the development and commercialization of natrium technology across the US, Korea and other select international markets.

As per the term sheet agreement agreed with SK Innovation, the two companies intend to develop Korea's first commercial natrium plant, with plans including international expansion, TerraPower said in a statement.

"The two companies plan to explore opportunities to collaborate on engineering and digital innovation solutions, including digital twin technology and artificial intelligence, building on TerraPower's existing leadership in these tools to optimize operations and maintenance," the statement added.

Meanwhile, according to the framework agreement reached with TerraPower, HDEC will support the commercial deployment of natrium reactors as the engineering, procurement and construction contractor and will help build eight of the company's future natrium reactors.

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Commodities

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Commodities

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