■ On July 13 (local time) in New York, the company discussed participation in the Gen IV SMR 'EAGL-1 Project'

… EAGL-1 is an SMR project based on a lead-bismuth cooled fast reactor design, a Generation IV nuclear system

… Hyundai E&C and FANCO hold talks on early-stage collaboration, including Balance of Plant (BOP) design and support for phased power supply solutions

■ Hyundai E&C strengthens its global SMR value chain, accelerating its market push with a full portfolio of next-generation reactors

… Agreement spans light-water reactors to Gen IV molten salt reactors (MSR), sodium-cooled fast reactors (SFR), and lead-bismuth fast reactors

… Reaffirms Hyundai E&C's unrivaled EPC competitiveness as it receives successive partnership requests from global nuclear power giants

At the signing ceremony held in New York on July 13 (local time), Choi Young, Head of Hyundai E&C's NewEnergy Business Division (fifth from right), and Mike Reinboth, CEO of FANCO, pose for a commemorative photograph with key representatives after signing the agreement.

With a continuous stream of partnership requests from global nuclear energy leaders, Hyundai E&C is rapidly accelerating the establishment of its next-generation reactor cooperation network.

Hyundai E&C announced that on July 13 (local time), it signed a framework agreement with First American Nuclear Co. (FANCO), a next-generation U.S. SMR developer, at the InterContinental New York Times Square Hotel in New York, to cooperate on the EAGL-1 Project.

The signing ceremony was attended by key executives from both companies, including Choi Young, Head of Hyundai E&C's NewEnergy Business Division, and Mike Reinboth, CEO of FANCO, where they discussed cooperation on the SMR project based on a lead-bismuth cooled fast reactor currently being championed by FANCO.

FANCO has developed the EAGL-1, which is currently the only liquid metal fast reactor (LMFR) design in the United States that utilizes a liquid lead-bismuth alloy as its coolant. The company is actively laying the groundwork for commercialization, having recently submitted its Regulatory Engagement Plan (REP) to the U.S. Nuclear Regulatory Commission (NRC).

The EAGL-1 is a next-generation SMR designed to generate approximately 240 MWe of electricity per reactor. Based on its modular design, a clustered deployment of six reactors can supply power to approximately 1.2 million households. Furthermore, it is engineered to recycle spent nuclear fuel, reducing difficult-to-manage long-lived radioactive waste by over 95%. It also features a uniquely flexible approach to project execution through its proprietary Bridge Power™ solution, which enables a seamless, phased transition from natural gas-fired power generation to full nuclear energy.

Under the terms of the agreement, Hyundai E&C and FANCO will collaborate on the early stages of the project, including the ▲design of the Balance of Plant (BOP, which encompasses all supporting components and auxiliary systems of a nuclear power plant required to deliver energy), ▲support for the Bridge Power™ solution, ▲construction feasibility reviews, and ▲modularization strategies. Hyundai E&C also plans to explore practical measures to participate as an engineering, procurement, and construction (EPC) partner for the EAGL-1 Project in the future.

As FANCO has announced plans to establish a nuclear energy park in partnership with the State of Indiana, envisioning a next-generation nuclear power cluster that directly links reactor manufacturing facilities with the energy park, the cooperative relationship between the two companies is expected to expand even further.

A Hyundai E&C official commented, “This contract is highly significant as it provides a pathway for Hyundai E&C to participate across all phases of a next-generation U.S. SMR project, from early design reviews to EPC execution, while expanding our reactor cooperation network in the United States.” The official added, “Through our strategic collaboration with FANCO, we will support the successful commercialization of EAGL-1 and further cement our leading position in the rapidly growing U.S. SMR market.”

Following its collaboration with Holtec on 3.5-generation light-water reactor SMRs, Hyundai E&C has steadily expanded its SMR cooperation network with global nuclear developers, including TerraPower for sodium-cooled fast reactors (SFR) and Thorizon of the Netherlands for molten salt reactors(MSR) With the addition of FANCO’s lead-bismuth cooled liquid metal fast reactor(LMFR) project, Hyundai E&C has successfully completed a ‘full portfolio’ encompassing key Generation IV reactors in the fast-growing SMR market.