Samsung C&T Invests $70 Million in U.S. Reactor Developer Kairos Power
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Samsung C&T (028260.KS) is accelerating its push into the global small modular reactor market, expanding cooperation that had centered on Europe into next-generation nuclear technology in the United States. The company's engineering and construction division said on Sept. 22 that its building arm will sign a strategic agreement with Kairos Power, a leading U.S. small modular reactor developer, on Sept. 23 to demonstrate and commercialize next-generation SMRs, and will pursue an investment of $70 million, or about 95 billion won. The signing ceremony will be held in New York in connection with a JP Morgan-hosted event during Climate Week NYC, the world's largest climate gathering, which runs Sept. 20-27. Kairos Power is a prominent U.S. developer of next-generation reactors with proprietary molten-salt cooling technology. Conventional light-water SMRs use water as a coolant and must operate at high pressure, while non-light-water coolants such as molten salt allow high-temperature operation at low pressure. Analysts say the approach is competitive because it reduces the burden of high-pressure equipment, improving safety and efficiency, while the high-temperature heat can also serve a range of energy needs. The company is building its Hermes demonstration reactor in Oak Ridge, Tennessee, and is moving quickly toward commercialization, becoming the first non-light-water...
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