Hyundai E&C partners with US firm FANCO to expand next-generation nuclear reactor lineup

Hyundai E&C is accelerating the expansion of its next-generation reactor network through a series of partnerships with global nuclear energy companies.

Hyundai E&C announced Tuesday that it signed a framework agreement with First American Nuclear Co. (FANCO), a US developer of next-generation small modular reactors, to cooperate on the EAGL-1 project. The signing took place in New York on Monday.

The ceremony was attended by Choi Young, executive vice president of Hyundai E&C's NewEnergy division, FANCO CEO Mike Reinbold, and other senior executives from both companies. The two sides discussed cooperation on FANCO's SMR project based on a lead-bismuth cooled fast reactor.

FANCO is the only US developer of a reactor design that uses a liquid lead-bismuth alloy as a coolant — a type of liquid metal fast reactor (LMFR) — and has developed the EAGL-1 reactor. The company has submitted a regulatory engagement plan to the US Nuclear Regulatory Commission as it works to lay the groundwork for commercialization.

The EAGL-1 is a next-generation SMR capable of generating approximately 240 MW of electricity per unit. With a modular design, a cluster of six reactors can supply power to about 1.2 million homes. The reactor can also recycle spent nuclear fuel to reduce long-lived radioactive waste — which is difficult to dispose of — by more than 95 percent. A bridge power solution enabling a phased transition from gas-fired to nuclear generation adds further operational flexibility.

Under the agreement, Hyundai E&C and FANCO will cooperate on early-stage work covering balance-of-plant design for the EAGL-1, bridge power solution support, constructability review, and modularization strategy. The two companies also plan to explore ways for Hyundai E&C to participate as an engineering, procurement and construction (EPC) partner on the EAGL-1 project going forward.

FANCO has also announced plans with the state of Indiana to develop a nuclear energy park, envisioning a next-generation nuclear cluster that links a reactor manufacturing facility with an energy complex — a development expected to further deepen the two companies' cooperation.

"This agreement is significant in that it creates an opportunity for Hyundai E&C to participate in the US next-generation SMR sector from early-stage design review through EPC execution, while expanding our reactor partnership network in the United States," a company official said. "We will support the successful commercialization of EAGL-1 and further solidify our leading position in the rapidly growing US SMR market."

Hyundai E&C declared its transformation into a "comprehensive energy solutions company" this year and has since been broadening its SMR partnership network with global nuclear developers. With the addition of FANCO's lead-bismuth cooled fast reactor, Hyundai E&C has completed a lineup spanning the representative fourth-generation reactor types in the SMR market, which is emerging as a key next-generation power infrastructure.