WASHINGTON, Nov. 3 (Yonhap) -- Hyundai Engineering & Construction (E&C) Co. has partnered with U.S. nuclear technology developer First American Nuclear Co. (FANCO) to provide engineering and construction-related services for a next-generation small modular reactor (SMR) project, the company has said.
Hyundai E&C signed a five-year master service agreement with FANCO in Seoul on Friday (Korean time), expanding a partnership established under a framework agreement in July, according to the construction arm of South Korea's Hyundai Motor Group.
Under the agreement, Hyundai E&C will provide technical support for FANCO's EAGL-1 reactor project, including reviews of construction feasibility, engineering and design consultations, and advice on construction methods.
The EAGL-1 is a next-generation SMR designed to generate approximately 240 megawatts of electricity using a lead-bismuth coolant, rather than the water-based cooling systems employed in conventional nuclear reactors.
According to Hyundai E&C, FANCO is laying the groundwork for commercializing the technology, including submitting a regulatory engagement plan to the U.S. Nuclear Regulatory Commission.
"Through this agreement with FANCO, we will drive the commercialization of the EAGL-1 project and further strengthen our leading position in the U.S. SMR market," a Hyundai E&C official said.
This photo provided by Hyundai E&C shows the company's Chief Executive Officer (CEO) Lee Han-woo and George Malone, FANCO's head of nuclear programs, at the South Korean builder's headquarters in Seoul on Oct. 30, 2026. (PHOTO NOT FOR SALE) (Yonhap)
This photo provided by Hyundai E&C shows the company's Chief Executive Officer (CEO) Lee Han-woo and George Malone, FANCO's head of nuclear programs, at the South Korean builder's headquarters in Seoul on Oct. 30, 2026. (PHOTO NOT FOR SALE) (Yonhap)