NANO Nuclear Energy and Hyundai Engineering Sign Memorandum of Understanding to Advance KRONOS MMR(TM) Project Execution and Future Fleet Deployment
Key Highlights
- ➤NANO Nuclear (NNE) signs nonbinding MOU with Hyundai Engineering for KRONOS MMR project execution
- ➤Hyundai Engineering may support A/E, EPC, fabrication and future KRONOS fleet deployment
- ➤University of Illinois KRONOS MMR construction permit application remains under NRC review
- ➤MOU contemplates U.S. reactor-component manufacturing and modular-factory development
- ➤No specific work package, funding or construction commitment is awarded under the MOU
Expert Statements
Jay Yu, Founder and Chairman of NANO Nuclear Energy
“NANO Nuclear is deliberately assembling the industrial capabilities required to move advanced nuclear technology from design into repeatable deployment.”
Jay Yu, Founder and Chairman of NANO Nuclear Energy
“Our objective is not simply to develop an advanced microreactor; it is to build the broader platform around it.”
Jay Yu, Founder and Chairman of NANO Nuclear Energy
“This includes engineering, manufacturing, fuel, transportation, project execution and the necessary supply chain that can support real projects at scale.”
Jay Yu, Founder and Chairman of NANO Nuclear Energy
“Hyundai Engineering brings project-delivery capabilities that can become increasingly valuable as the KRONOS MMR™ system advances from design to regulatory licensing and into construction and ultimate commercialization.”
James Walker, Chief Executive Officer of NANO Nuclear Energy
“The next phase of advanced nuclear will be defined by execution.”
James Walker, Chief Executive Officer of NANO Nuclear Energy
“As our KRONOS MMR™ system progresses through NRC review, constructability, procurement, logistics, modularization, interfaces and a qualified supply chain become just as important as the reactor design itself.”
James Walker, Chief Executive Officer of NANO Nuclear Energy
“This MOU gives us a framework to bring HEC into that work early, while creating a pathway from the first U. of I. project toward a standardized and repeatable fleet-deployment model.”
Woo-Jeong Joo, Chief Executive Officer of Hyundai Engineering
“This MOU establishes a foundation for cooperation with a promising advanced nuclear developer.”
Woo-Jeong Joo, Chief Executive Officer of Hyundai Engineering
“By participating in demonstration and first-of-a-kind project opportunities, we aim to build valuable project experience, strengthen our capabilities across the advanced nuclear project lifecycle and continuously identify new business opportunities in the global market.”
Collaboration brings the potential for engineering, procurement, construction, modularization and supply-chain capabilities into NANO Nuclear's platform as the University of Illinois KRONOS MMR™ project advances through NRC review
Framework creates a pathway from first-of-a-kind project planning to potential A/E, EPC, fabrication, U.S. manufacturing and future fleet-deployment support
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