[Edaily Reporter LEE DAWON ] SAMSUNG C&T CORPORATION(028260) ’s Construction Division is entering the U.S. next-generation small modular reactor (SMR) market. Following its partnership with U.S. nuclear power developer Kairos Power to participate in a demonstration reactor project, the company is also pursuing an investment of approximately $70 million (about 95 billion won).

SAMSUNG C&T CORPORATION announced on the 22nd that it will sign a strategic business agreement with U.S.-based Kairos Power on the 23rd to advance the demonstration and commercialization of next-generation SMRs.

The signing ceremony will take place in conjunction with an event hosted by JPMorgan during “Climate Week NYC,” a climate conference held in New York City. Mike Roper, CEO of Kairos Power, and Lee Chang-wook, Executive Vice President and Head of the Energy Solutions Business Division at SAMSUNG C&T CORPORATION, are scheduled to attend.

Founded in 2016, Kairos Power is developing the “KP-FHR (Kairos Power Fluoride Salt-Cooled High Temperature Reactor)” technology, which uses molten salt—rather than water—as a coolant. Molten salt is a substance created by melting solid salt at high temperatures to turn it into a liquid.

Conventional light-water reactor (LWR)-type SMRs use water as a coolant, which requires high pressure to keep the water in a liquid state at high temperatures. In contrast, non-LWR reactors that utilize molten salts or sodium as coolants can operate at high temperatures even under relatively low pressure. The heat generated can be used not only for power generation but also for industrial heat supply and hydrogen production.

SAMSUNG C&T CORPORATION has been promoting light-water SMR projects, primarily in Sweden and Romania, in collaboration with companies such as NuScale and GVH (GE Vernova Hitachi). Through this agreement, the company will expand its business scope to include non-light-water SMRs.

Kairos Power is currently constructing the “Hermes” demonstration reactor in Oak Ridge, Tennessee, with support from the U.S. Department of Energy (DOE). This project is the first non-light-water reactor in approximately 50 years to receive construction approval from the U.S. Nuclear Regulatory Commission (NRC). The target commissioning date is 2031.

Under the agreement, SAMSUNG C&T CORPORATION will participate in the design and constructability reviews for the Hermes demonstration reactor. It will also secure priority rights to undertake the EPC (engineering, procurement, and construction) for commercial reactors that Kairos Power plans to develop in the U.S. in the future.

The two companies plan to continue their cooperation in markets outside the U.S. as well. They have agreed to jointly identify nuclear power projects in South Korea, Southeast Asia, and Europe, and to evaluate opportunities for participation in those projects.

SAMSUNG C&T CORPORATION is also pursuing a plan to invest approximately $70 million in Kairos Power. The aim is to expand their cooperative relationship not only through participation in the EPC for the demonstration and commercial reactors but also through equity investments.

Mike Roper, CEO of Kairos Power, said, “I am deeply honored to establish a partnership with SAMSUNG C&T CORPORATION. By combining Kairos Power’s innovative reactor technology and commercialization and supply models with SAMSUNG C&T CORPORATION’s world-class project execution capabilities, we expect to further accelerate the commercialization of next-generation nuclear power plants.”

Lee Chang-wook, Executive Vice President and Head of the Energy Solutions Business Division at SAMSUNG C&T CORPORATION, said, “This agreement will serve as an important milestone in leading the next-generation nuclear power market.” He added, “Through close cooperation with Kairos Power, we plan not only to successfully execute SMR demonstration projects but also to create various business opportunities in the global commercialization market.”

SAMSUNG C&T CORPORATION plans to expand its scope of participation in the SMR business beyond EPC to include investment, development, and operations.