Home / Business and Economy / Gates' TerraPower Seals Global SMR Deal with SK
Gates' TerraPower Seals Global SMR Deal with SK
14 Aug
Summary
- TerraPower and SK Innovation signed a global agreement on small modular reactors.
- SK Innovation will participate in TerraPower's SMR projects domestically and abroad.
- Doosan Enerbility will manufacture key components for TerraPower's reactor.
TerraPower and South Korea's SK Innovation have formalized a preliminary global agreement focused on small modular reactors (SMRs). This partnership, announced on August 14, 2026, paves the way for SK Innovation to actively engage in TerraPower's SMR projects worldwide.
The agreement was solidified during a meeting in Seoul attended by TerraPower co-founder Bill Gates, SK Group Chairman Chey Tae-won, and the Industry Minister. SK Innovation gains an opportunity to contribute to the development of TerraPower's SMR initiatives.
TerraPower is currently developing its Natrium reactor project in Wyoming, with targeted commercial operation in 2031. In a separate development, Doosan Enerbility has been awarded a contract by TerraPower to produce essential reactor components. South Korean firms, including SK and HD Hyundai, have already invested in TerraPower and are pursuing roles in equipment supply and project construction.
This surge in interest for SMRs is fueled by escalating electricity demands from AI infrastructure and data centers, creating a fertile ground for South Korean suppliers to integrate into global SMR supply chains.
