South Korea’s Hyundai Engineering is doubling down on micro reactor sector to cement leadership in the burgeoning small module reactor (SMR) market and hydrogen generation for carbon emission control and energy security.

According to its roadmap for future reactor and energy engineering, the company will expand business in small and micro modular reactors, hydrogen production, nuclear power plant decommissioning, and nuclear fuel manufacturing. Based on its design and manufacturing technologies, the firm will build up competitive edge in the SMR sector.

It plans to secure engineering, procurement, and construction (EPC) rights for micro module reactor (MMR) building in Canada, the United States, and Poland by 2029, based on its current MMR project in Chalk River, Canada. It also plans to mass-produce hydrogen using high temperatures through technological advancement.

For the nuclear power plant decommissioning and nuclear fuel cycle, the firm will participate in the design procedure of temporary storage facilities for nuclear fuels after use in domestic power plants. Based on the expertise it will gain from the work, it plans to advance into overseas markets. It also plans to bolster its business by securing EPC rights for pyroprocessing and radioactive waste treatment facilities.

It aims to ready for decommissioning and dismantling demand in Korea.

Based on its experience in the OYSTER research reactor project in the Netherlands, it hopes to join projects in countries, such as South Africa and Bangladesh.

“We will solidify our presence in the SMR sector and bolster our eco-friendly business portfolio, contributing to carbon neutrality,” said an official from the company.

By Seo Chan-dong and Jenny Lee

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]