TerraPower and SK Innovation Partner on Global SMR Projects

TerraPower and SK Innovation signed a preliminary global agreement on Friday in Seoul to collaborate on small modular reactor (SMR) projects in the United States and abroad. The deal, signed by TerraPower co-founder Bill Gates and SK Group Chairman Chey Tae-won, enables the SK Group affiliate to participate in the development of TerraPower's SMR initiatives.

As part of the broader expansion, Doosan Enerbility secured a contract from TerraPower to manufacture critical components for the Natrium reactor project in Kemmerer, Wyoming. These components include the reactor vessel and internal structures. TerraPower received a construction permit from the U.S. Nuclear Regulatory Commission in March and aims for the sodium-cooled reactor to be commercially operational by 2031.

South Korean officials stated that the global interest in SMR technology is being driven by rising electricity demands from data centers and AI infrastructure. This shift is creating new opportunities for South Korean suppliers to integrate into overseas energy supply chains.