Hyundai Engineering & Construction (Hyundai E&C) has announced a significant strategic framework agreement with U.S. small modular reactor (SMR) innovator First American Nuclear Co. (FANCO) to advance the groundbreaking EAGL-1 nuclear reactor project. This pivotal collaboration is set to bolster Hyundai E&C’s presence in the burgeoning U.S. SMR market and accelerate the deployment of advanced nuclear energy solutions.
The formal signing ceremony took place Tuesday at the prestigious InterContinental New York Times Square Hotel in New York. The agreement was officially inked by Choi Young, Executive Vice President of Hyundai E&C’s New Energy Business Division, and Mike Reinboth, CEO of FANCO (First American Nuclear Co.), marking a new chapter in advanced nuclear energy development.
FANCO is at the forefront of developing the EAGL-1, heralded as the United States’ first liquid metal-cooled fast reactor. This innovative SMR leverages a lead-bismuth coolant technology, distinguishing it in the advanced nuclear sector. Each EAGL-1 reactor is engineered to generate approximately 240 megawatts of clean, reliable electricity. A modular plant featuring six of these advanced reactors could deliver sustainable power to an estimated 1.2 million households, significantly contributing to national energy security and carbon reduction goals.
Beyond its power generation capabilities, the EAGL-1 boasts a crucial environmental advantage: it is designed to substantially reduce long-lived radioactive waste through the innovative use of recycled spent nuclear fuel. Furthermore, its proprietary Bridge Power solution offers a strategic pathway for utility operators, enabling a seamless and gradual transition from traditional natural gas-fired generation towards cleaner, more sustainable nuclear power.
Under the terms of this comprehensive agreement, Hyundai E&C will play a critical role in the EAGL-1 project’s early development phase. Their expertise will be instrumental in key areas including the sophisticated design of balance of plant (BOP) systems—essential infrastructure supporting electricity generation—as well as conducting thorough constructability reviews and formulating robust modularization strategies to streamline deployment.
Looking ahead, the partnership also encompasses exploring Hyundai E&C’s significant involvement as the primary engineering, procurement, and construction (EPC) contractor for the entire EAGL-1 project, solidifying their commitment to its successful realization.
“This strategic partnership with FANCO is pivotal,” stated a Hyundai E&C official. “Our collective aim is to vigorously support the commercialization of the EAGL-1 technology, thereby significantly strengthening Hyundai E&C’s strategic footprint and leadership in the rapidly expanding U.S. Small Modular Reactor market.”
