USNC, Hyundai partner on microreactor procurement and prospects

August 29, 2022, 12:00PMNuclear News
Francesco Venneri (left), USNC CEO, and Hyeon Sung Hong, Hyundai Engineering CEO, at a framework agreement signing for MMR project development and deployment.

Representatives of Ultra Safe Nuclear Corporation (USNC) of Seattle, Wash., and Hyundai Engineering of Seoul, South Korea, traveled last week between USNC project sites in Oak Ridge, Tenn., and Ontario, Canada, to sign two agreements extending their collaboration on the deployment of USNC’s high-temperature, gas-cooled Micro Modular Reactor (MMR). The agreements expand on a business cooperation agreement signed in January 2022 and an engineering agreement signed in June, and follow the closure earlier this month of a previously announced $30 million equity investment after its review by the U.S. Treasury Department’s Committee on Foreign Investment in the United States.

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