Korea Shipbuilding & Offshore Engineering will invest about KRW 42.5 billion in TerraPower, a Small Modular Reactor (SMR) company founded by Microsoft co-founder Bill Gates.

TerraPower is an innovative company with next-generation reactor design technology, sodium (NatriumTM, sodium-cooling method). TerraPower's sodium-cooled fast reactor and molten salt reactor technology does not emit greenhouse gas during the power generation process, and they also have a low risk of accidents such as leaks and explosions compared to large nuclear power plants, so they are attracting attention as ecofriendly future energy sources.

Through this contract, Korea Shipbuilding & Offshore Engineering will start investing in next-generation energy technology. Korea Shipbuilding & Offshore Engineering has been discussing investment with TerraPower since the beginning of this year. The two companies are also planning to consider business cooperation in related fields in the future.

Korea Shipbuilding & Offshore Engineering will seek new business opportunities by utilizing Hyundai Heavy Industries' capabilities in the nuclear field. In the long term, it plans to preoccupy future technologies in the fields of offshore nuclear power generation and nuclear-powered ships. An official from Korea Shipbuilding & Offshore Engineering said, "SMR is emerging as a market with great growth potential amidst the global decarbonization trend. We will develop technologies in the nuclear power field as well as preoccupy the next-generation energy market."