BHI announced on the 25th that it has signed a Strategic Partnership Agreement with Torcon, a promising nuclear power development company for the 4th generation small modular reactor (SMR) in the United States. The purpose of this agreement is to strengthen technical and commercial cooperation with the goal of commercializing a marine SMR system based on Molten Salt Reactor (MSR) technology.
With this agreement, the two companies plan to focus on the 500MWe offshore ThorCon Molten Salt Reactor (TMSR) demonstration project currently underway in Indonesia in the initial phase of their collaboration. They plan to expand the scope of their collaboration to other global markets, including Southeast Asia.
Torcon is a 4th generation SMR technology company that uses thorium as fuel, and is developing a TMSR reactor system that is both safe and economical. In particular, it is adopting a method of manufacturing the reactor in a module form at a shipyard and then transporting and installing it on site via a barge, and is receiving attention worldwide as it can shorten the construction period and increase cost efficiency compared to existing nuclear power plants.
Last month, Torcon's key executives visited BHI's headquarters and discussed in-depth technical and business cooperation plans. This business agreement was concluded in about a month.
A BHI official explained, “Torcon is a company with highly competitive technology in the next-generation nuclear power plant field,” and “Our technological prowess and our extensive project experience in the global market were highly evaluated, which allowed us to sign this business agreement at an unusually short notice.”
He added, “Currently, the two companies are continuing discussions on practical technical cooperation and commercialization in a meaningful direction,” and “We will do our best to continue to strengthen our partnership with Torcon and produce successful results.”
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