Hyundai E&C is taking steps to enter the small modular reactor (SMR) market in Europe.

The company has signed a cooperation agreement with Holtec International of the United States and Skoda Praha, a Czech engineering company, to promote the SMR business in the Czech Republic.

Holtec International recently signed a memorandum of understanding (MOU) with CEZ Group to construct an SMR on the site of Temelin Nuclear Power Station, which is owned by the Czech utility company. Holtec is in talks with Czech authorities over the SMR project. It will review the project’s business value and economic feasibility before launching it.

Holtec is a nuclear power plant company founded in 1986. Hyundai E&C signed a contract with Holtec in November 2021 to develop SMRs and enter the SMR business together. The two are seeking business opportunities in such sectors as SMRs, the decommissioning of nuclear power plants and temporary storage facilities for spent nuclear fuel.

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