Hyundai and TerraPower, Chaired by Bill Gates, Unite to Fast‑Track Next‑Gen Nuclear Reactors

Hyundai E&C, TerraPower, and HD Hyundai have strengthened their alliance to accelerate commercialization of next-generation Natrium® small modular reactors (SMRs), with Bill Gates personally attending the leadership meeting in Seoul on August 14, 2026. This collaboration positions Korea and the U.S. at the forefront of global nuclear innovation.

TerraPower is a U.S.-based nuclear innovation company founded by Bill Gates and partners, focused on developing advanced reactors like the Natrium® system to deliver safe, carbon-free, and flexible energy while also advancing medical isotopes for cancer treatment.

Key Highlights from the Meeting

The meeting brought together senior executives from all three companies, including Hyundai E&C CEO Hanwoo, TerraPower Board Chairman Bill Gates, President and CEO Chris Levesque, and HD Hyundai Chairman Kisun Chung.

TerraPower is building its first Natrium reactor in Wyoming, and executives discussed expanding collaboration to future projects, committing to sustained close cooperation.

Attendees:

• Hanwoo Lee, CEO Hyundai E&C
• Bill Gates, Chairman TerraPower
• Chris Levesque, CEO TerraPower
• Kisun Chung, Chairman HD Hyundai

Focus: Commercial deployment and global expansion of the Natrium® sodium-cooled fast reactor (SFR).

Strategic Importance

• Global Expansion: Builds on trilateral MOU signed in May 2026.
• U.S. Market Entry: Targeting ~95 GW installed nuclear capacity, aging reactors, and rising AI-driven electricity demand.
• Korea-U.S. Cooperation: HD Hyundai to manufacture 2–3 Natrium reactor vessels annually.

The Natrium® Advantage

• Technology: Sodium-cooled fast reactor (SFR).
• Benefits: Enhanced safety, economic efficiency, flexible power output, scalable deployment.

Implications for Energy Markets

• Commercialization Path: First Natrium unit under construction in Wyoming, USA.
• Global Competitiveness: Hyundai E&C brings EPC expertise; HD Hyundai strengthens manufacturing.
• Demand Drivers: Rising electricity needs from digital infrastructure and climate commitments.

Partnership Roles

Partner	Role
TerraPower	Provides Natrium® technology, led by Bill Gates
Hyundai E&C	EPC expertise, project management, global deployment
HD Hyundai	Manufactures primary reactor equipment, builds supply chain

Risks & Challenges

• Regulatory hurdles: Nuclear licensing varies by country.
• Public perception: Safety and waste management concerns.
• Supply chain readiness: Scaling to 2–3 reactor vessels annually requires investment.

Conclusion

This trilateral partnership marks a milestone in nuclear innovation, combining U.S. technology leadership with Korean industrial strength. If successful, Natrium reactors could redefine the future of clean, reliable energy, supporting both climate goals and digital economy growth.