Samsung C&T is joining forces with Kairos Power, a U.S. developer of next-generation small modular reactors (SMRs). This partnership expands their SMR portfolio from European light water reactors to include American advanced non-light water reactors.
Samsung C&T’s construction division announced on Tuesday that it will sign a strategic memorandum of understanding (MOU) with Kairos Power in New York City on September 23. The agreement aims to advance the demonstration and commercialization of next-generation SMRs.
The signing ceremony will take place during Climate Week NYC, the world’s largest climate-focused event, running from September 20 to 27. It will be held in conjunction with a JP Morgan-sponsored event. Attendees will include Kairos Power Chief Executive Officer (CEO) Mike Laufer and Samsung C&T’s Vice President and head of the Energy Solutions Division, Lee Chang-wook.
Under this agreement, Samsung C&T will contribute to the design and constructability review of Kairos Power’s ‘Hermes’ demonstration reactor. The company has also secured priority rights for the engineering, procurement, and construction (EPC) of future commercial reactors that Kairos Power plans to build in the U.S. Furthermore, Samsung C&T is considering an investment of approximately 70 million USD.
The Hermes reactor, backed by the U.S. Department of Energy (DOE), is currently under construction in Oak Ridge, Tennessee. It recently received construction approval from the Nuclear Regulatory Commission (NRC), marking the first such approval for a non-light water reactor in over five decades. The reactor is slated to begin operations by 2031.
Kairos Power, established in 2016, is developing a molten salt-cooled reactor based on its proprietary KP-FHR technology. Unlike traditional light water reactor SMRs that require high-pressure operation, next-generation SMRs using molten salt or sodium can operate at high temperatures with lower pressure. This design reduces the need for high-pressure systems, enhancing safety and efficiency. The high-temperature heat generated can be utilized not only for electricity production but also for industrial applications and hydrogen generation.
The two companies have agreed to collaboratively explore business opportunities in the global nuclear power market, including South Korea, Southeast Asia, and Europe.
Samsung C&T has previously partnered with NuScale and GE Hitachi Nuclear Energy (GEH) to advance light water reactor SMR projects in European countries such as Romania, Sweden, Estonia, and Poland. The Romanian SMR project completed its front-end engineering design (FEED) in November last year. This month, Samsung C&T signed a joint development agreement (JDA) with GEH for a new nuclear power project in Sweden, led by Studsvik.
CEO Laufer stated that by combining Kairos Power’s innovative reactor technology with Samsung C&T’s world-class project execution capabilities, it can accelerate the commercialization of next-generation nuclear power.
Vice President Lee Chang-wook commented that this agreement marks a significant milestone in the efforts to lead the next-generation nuclear power market. It’s committed to successfully executing the SMR demonstration project and creating new business opportunities in the global commercialization landscape.
Samsung C&T aims to build a diverse portfolio of SMR collaborations, expanding its business scope beyond EPC to include investment, development, and operations.
