SEATTLE, Aug. 5, 2020 /PRNewswire/ -- Today, U.S.-based Ultra Safe Nuclear Corporation (USNC) announces the signing of a Memorandum of Understanding (MOU) with Hyundai Engineering (HEC) and the Korea Atomic Energy Research Institute (KAERI). The five-year agreement outlines goals for development of technologies that enhance the USNC Micro Modular Reactor's (MMR™) ability to produce and deliver carbon-free power, heat, and hydrogen in future MMR installations. This agreement includes investigating applications for the MMR technology in South Korea.
There are two primary areas of exploration outlined in the MOU:
- High Temperature Gas-Cooled Reactor (HTGR) power plant – development and deployment of HTGR technology for supplying power as well as process-heat production, critical to the operations of industrial processing plants.
- Very High Temperature Gas-Cooled Reactors (VHTR) power plant – development and deployment of a VHTR system for production of hydrogen for use in fuel cells.
"We are committed to combining the simple, elegant design of our MMR with state-of-the-art energy-production technologies from around the world," stated Francesco Venneri, CEO, USNC. "Working with leaders like Hyundai Engineering and KAERI on advanced nuclear power technologies will improve the overall performance and value of our MMR, and accelerate our path to new deployments in new markets."
Eventually, USNC will consider incorporating complementary technologies resulting from this collaboration into future MMR designs. USNC expects these technologies will become valuable options for future customers, providing carbon-free energy optimized for specific uses.
"The immense potential of advanced nuclear reactors like the one designed by Ultra Safe Nuclear, combined with the power-delivery systems we'll collaborate on, represent the future of nuclear power generation and process heat applications," said Won Seok Park, President, Korea Atomic Energy Research Institute.
"The opportunity to contribute to the development of systems that improve the performance of Ultra Safe Nuclear's advanced reactor is an opportunity to deliver reliable, carbon-free energy to the worldwide community," remarked Dae-Hee Hahn, vice president, Hyundai Engineering.
The USNC MMR™ Reactor consists of two plants: the nuclear plant that generates heat, and the adjacent power plant that converts heat into electricity or provides process heat for industrial applications. The USNC system is designed to be uniquely simple, with minimal operations and maintenance requirements, and no on-site fuel storage, handling, or processing. Key to the overall design is USNC's Fully Ceramic Microencapsulated (FCM™) fuel, providing a new approach to reactor safety at the fuel level.
About Ultra Safe Nuclear Corporation
USNC is a vertical integrator of nuclear power technologies, committed to bringing safe, commercially competitive, reliable nuclear energy to markets throughout the world. The company strictly adheres to inherent and intrinsic safety principles through technological innovation in fuels, materials, and design practices. Twitter: @UltraSafeNuke
About Hyundai Engineering
HEC has the world-class expertise and capabilities in the engineering, design and construction of the plants in power and chemical industries. The company has been working together with USNC on the development of MMR power plants and realization of MMR project since 2015 with great progress. HEC continues to participate and is fully supportive of these activities.
About Korea Atomic Energy Research Institute
KAERI, a government-funded research institute, contributes to academic advancement, energy acquisition, and utilization of nuclear energy through active research and development in related fields. Since its establishment in 1959, KAERI has been the only research institute in Korea dedicated to nuclear energy. As the first research institute of science and technology in Korea and one of the world's best centers of nuclear research, KAERI is building a safe society centered on people and the environment. It will continue to expand into new fields, improving quality of life while attaining higher standards in safety and reliability. Web page: www.kaeri.re.kr