Hyundai E&C partners with FANCO of U.S. for next-gen nuclear reactor project

Hyundai Engineering & Construction (E&C) Co. has partnered with U.S. nuclear technology developer First American Nuclear Co. (FANCO) to provide engineering and construction-related services for a next-generation small modular reactor (SMR) project, the company has said.

Hyundai E&C signed a five-year master service agreement with FANCO in Seoul on Friday (Korean time), expanding a partnership established under a framework agreement in July, according to the construction arm of South Korea's Hyundai Motor Group.

Under the agreement, Hyundai E&C will provide technical support for FANCO's EAGL-1 reactor project, including reviews of construction feasibility, engineering and design consultations, and advice on construction methods.

The EAGL-1 is a next-generation SMR designed to generate approximately 240 megawatts of electricity using a lead-bismuth coolant, rather than the water-based cooling systems employed in conventional nuclear reactors.

According to Hyundai E&C, FANCO is laying the groundwork for commercializing the technology, including submitting a regulatory engagement plan to the U.S. Nuclear Regulatory Commission.

"Through this agreement with FANCO, we will drive the commercialization of the EAGL-1 project and further strengthen our leading position in the U.S. SMR market," a Hyundai E&C official said.