Orbitech , a total solution provider for nuclear power plants and radioactivity, announced on the 12th that it has signed a memorandum of understanding (MOU) with Flibe Energy, a next-generation SMR (small modular reactor) technology company in the United States.
This agreement aims to foster collaboration and strategic cooperation in next-generation nuclear power technologies, particularly focusing on thorium-based molten salt reactor (MSR) technology. Flyve Energy, founded in 2011 in Huntsville, Alabama, is a leader in the development of SMRs and liquid fluoride thorium reactor (LFTR) technology. Founded by NASA veteran Kirk Sorensen, the company is committed to providing sustainable energy through eco-friendly, high-efficiency reactor technology.
Through this agreement, the two companies plan to collaborate in various areas, including joint development of MSR technology, collaboration on mobility and industrial reactor applications, and localization and market entry into the Korean-US nuclear power supply chain. The agreement was concluded following technical and business discussions between the two companies and a due diligence process by Orbitech in the US. The possibility of future strategic investment will also be explored.
“We are excited to begin our collaboration with Orbitech and look forward to advancing our MSR technology together,” said Kirk Sorenson, CEO of Flybe Energy. “Following the signing of the MOU, we are in the process of gradually discussing the Secured Equity Equity Agreement (SAFE) and specific implementation plans for our technology collaboration, and we plan to establish a joint demonstration and commercialization roadmap centered on both countries.”
Orbitech CEO Do Eun-seong said, “This agreement will be an important opportunity for Orbitech to enter the global nuclear technology ecosystem,” and added, “Through cooperation with Flybe, we plan to lay the foundation for entering the U.S. market and serve as a technology and business bridgehead for the Korean nuclear industry to expand into advanced application fields such as SMRs, marine reactors, and aerospace reactors.”
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