Hyundai Engineering & Construction (Hyundai E&C) is strengthening its presence in the U.S. small modular reactor (SMR) market through a strategic partnership with an American advanced reactor developer, expanding its role from engineering and construction to early-stage technology development for next-generation nuclear power projects.
The company announced that it has signed a framework agreement with U.S.-based First American Nuclear Corp. (FANCO) in New York to collaborate on the development of the company's next-generation SMR project, known as EAGL-1.
The agreement establishes an initial framework for commercializing FANCO's lead-bismuth-cooled fast reactor technology. Under the partnership, the two companies will combine their expertise in reactor engineering and plant construction while exploring opportunities to jointly pursue future SMR projects in the United States.
EAGL-1 is an advanced liquid metal-cooled small modular reactor designed to provide a more flexible and cost-effective alternative to conventional large-scale nuclear power plants. Its modular design is expected to shorten construction schedules and reduce overall project costs.
Each EAGL-1 reactor is designed to generate approximately 240 megawatts of electric power (MWe). Multiple units can be deployed as clusters, making the technology suitable for supplying stable electricity to industrial complexes, AI data centers and other energy-intensive facilities.
The reactor utilizes a lead-bismuth alloy as its primary coolant, a technology recognized for its high thermal efficiency and enhanced safety characteristics. The design also aims to incorporate spent nuclear fuel recycling technologies to reduce the volume of long-lived radioactive waste.
As part of the collaboration, Hyundai E&C will participate in technical evaluations during the project's early development phase. The companies will jointly review the Balance of Plant (BOP) design, assess construction feasibility, develop modular construction strategies and evaluate bridge power solutions that could support project implementation.
Should the project advance toward commercialization, Hyundai E&C also plans to pursue participation as the engineering, procurement and construction (EPC) contractor.
Industry observers view the partnership as an important step in expanding Hyundai E&C's footprint in the rapidly growing U.S. SMR sector. Governments worldwide, particularly in the United States, are accelerating investments in next-generation nuclear technologies to strengthen energy security and achieve carbon neutrality, intensifying competition to commercialize advanced reactor designs.
Interest in SMRs has grown further with the rapid expansion of artificial intelligence infrastructure and data centers, which are driving unprecedented demand for reliable electricity. As conventional power grids face mounting pressure, nuclear energy is increasingly being recognized as a stable, low-carbon power source capable of supporting continuous, large-scale electricity consumption.
Compared with traditional nuclear power plants, SMRs offer greater deployment flexibility and can be installed closer to industrial sites or regional energy infrastructure, making them attractive for a wide range of commercial and industrial applications.
FANCO is also pursuing plans to establish an advanced nuclear energy cluster in the United States that combines reactor manufacturing facilities with integrated energy complexes, potentially creating additional opportunities for future collaboration with Hyundai E&C.
Building on decades of experience in domestic and international nuclear power construction, Hyundai E&C has been expanding its portfolio of next-generation energy technologies. The company aims to leverage its expertise in conventional nuclear power plants while strengthening its competitiveness in the emerging global SMR market through advanced reactor partnerships.
"This agreement is significant because it establishes a foundation for Hyundai E&C to participate in the U.S. next-generation SMR market from the early technology review stage through potential EPC execution," a Hyundai E&C official said. "Working with FANCO, we will support the successful commercialization of the EAGL-1 project while expanding our presence in the U.S. SMR market."
Industry analysts believe the partnership could diversify Hyundai E&C's overseas nuclear business portfolio and serve as a strategic foothold for securing future opportunities in the rapidly expanding global SMR industry.
