Samsung C&T, NuScale to deepen partnership in global SMR market

[Source: Samsung C&T]

South Korea’s Samsung C&T and U.S. reactor company NuScale Power have agreed to expand their partnership in the global market of small modular reactors (SMR) emerging as a future energy source on safer appeal and zero carbon emissions.

Samsung C&T’s construction unit CEO Oh Se-chul and NuScale Power CEO John Hopkins met at the headquarters of NuScale Power in the U.S. state of Oregon on Monday to discuss their collaboration for joint global SMR market development and expansion, Samsung C&T said on Tuesday.

Samsung C&T has formed its strategic partnership with the U.S. leading SMR designer and technology provider through equity investment of $20 million in 2021 and an additional $50 million this year.

During the discussion, the two companies agreed to share technologies and capabilities by exchanging engineers from the phase of construction planning regarding Utah Associated Municipal Power Systems’ SMR project in Idaho, which is aiming to commence commercial operation by 2029.

Samsung C&T also agreed to leverage its experiences of building and operating 10 nuclear power plants in South Korea to actively engage in NuScale Power’s ongoing SMR projects in Eastern Europe, including one in Romania. The two plan to conduct research and commercialization of hydrogen production using high-temperature steam as well as power generation through SMR.

“The partnership with the leading SMR player will serve as a foothold for our expansion into the global SMR market,” said Oh Se-chul.

"We are grateful to this reinforced partnership with world-renowned Samsung C&T and today’s announcement is a key example of collaboration between nuclear industry leaders,” said John Hopkins.

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