TerraPower Announces Key Commercialization Agreements for Natrium® Plants with Korean Counterparts
TerraPower entered into multiple agreements in support of advanced reactor manufacturing and power plant project execution to drive rapid deployment of Natrium plants
BELLEVUE, WASHINGTON - May 20, 2026 –TerraPower, a nuclear innovation company, announced it has signed agreements with HD Hyundai and Hyundai Engineering & Construction (HDEC) to support the rapid commercialization and deployment of a fleet of Natrium reactor and integrated energy storage plants in the coming years.
During a signing ceremony in New York City, TerraPower and HD Hyundai signed a supply framework agreement that establishes HD Hyundai Heavy Industries (HHI), a shipbuilding subsidiary of HD Hyundai, as a preferred manufacturer for Natrium Reactor Enclosure System (RES) components, securing a scalable supply chain for serial production of Natrium reactors. HHI was selected as the strategic manufacturing partner following a thorough review of its fabrication capabilities, large-scale industrial production expertise and proven track record in precision manufacturing for the energy sector.
In a separate agreement, TerraPower, HD Hyundai and HDEC outlined a strategy to leverage HD Hyundai and HDEC’s expertise in project delivery and execution excellence to support TerraPower’s commercialization plans. The three companies plan to collaborate on the design, manufacturing, supply chain, construction, commercial structure and delivery of multiple units of TerraPower’s Natrium technology. This collaboration will be vital to shaping fleet deployment and the financing of Natrium reactors.
“Collaborating with HD Hyundai and Hyundai Engineering & Construction represents a powerful alignment of global innovation, manufacturing excellence and world‑class project delivery,” said Chris Levesque, president and CEO of TerraPower. “By combining our strengths, we are creating a new era of energy infrastructure—one where advanced reactors like Natrium are unleashed at scale to meet growing demand, strengthen supply chains, and deliver reliable, resilient, affordable power.”
“This Framework Agreement not only strengthens our strategic collaboration with TerraPower but also serves as a critical foundation for our entry into the global nuclear market,” said Kwang-shik Won, senior executive vice president and COO of HD Hyundai Heavy Industries. “Through our agreement, we will strive to ensure the timely supply of Natrium reactor equipment and establish a serial production base to secure a formidable global competitive edge.”
"This strategic collaboration represents a powerful union of vision and expertise,” said Young Choi, executive vice president & COO of Hyundai Engineering & Construction. “HDEC is proud to join forces with TerraPower to accelerate the deployment of advanced nuclear reactors. Through this agreement, we aim to lead the energy transition and deliver reliable, carbon-free power on a global scale. Together, we are setting a new standard for the industry and reinforcing our leadership in the new energy strategy."
Through an integrated approach to design, manufacturing and construction, such a collaboration would support reliable, scalable and economically competitive advanced nuclear solutions. This strategic collaboration would aim to accelerate advanced nuclear deployment by leveraging TerraPower’s innovation leadership and the global industrial capabilities of both HD Hyundai and HDEC. TerraPower, HD Hyundai and HDEC’s collaboration would leverage American innovation and Korean industrial expertise for advanced reactor deployments, supporting a global shift toward innovative, next generation nuclear technologies.
About the Natrium Technology
The Natrium technology is the first mover in the advanced reactor sector and is well positioned to support rapidly increasing energy demand. The Natrium plant design features a 345 MW sodium-cooled fast reactor with a patented molten salt-based energy storage system. The storage technology can boost the system’s output to 500 MW of power when needed as it is designed to keep base output steady, ensuring constant reliability, and can quickly ramp up when demand peaks—it is the only advanced reactor design with this unique feature.
The first Natrium plant is being developed through the U.S. Department of Energy’s Advanced Reactor Demonstration Program (ARDP), a public-private partnership. That project is expected to be completed in 2030 and will be the first utility-scale advanced nuclear power plant in the United States. TerraPower is rapidly commercializing the Natrium technology, which includes an agreement with Meta for up to eight Natrium plants by 2035.
About TerraPower
TerraPower is a leading nuclear innovation company that strives to improve the world through nuclear energy and science. Since it was founded by Bill Gates and a group of like-minded visionaries, TerraPower has emerged as an incubator and developer of ideas and technologies that offer energy independence, environmental sustainability, medical advancement and other cutting-edge opportunities. It accepts and tackles some of the world’s most difficult challenges. Behind each of its innovations and programs, TerraPower actively works to bring together the strengths and experiences of the world’s public and private sectors to answer pressing global needs. Learn more at terrapower.com.
Press contact
TerraPower – press@terrapower.com