Press Release

Doosan Enerbility’s engagement in large nuclear reactor and small modular reactor (SMR) projects is picking up speed with Doosan successively entering into nuclear partnerships with U.S.-based global companies.

Doosan announced on August 26th that it had signed a memorandum of understanding with Amazon Web Services (AWS), X-energy* and Korea Hydro & Nuclear Power (KHNP) on engaging in SMR-related cooperation initiatives.
* X-energy: a U.S. firm with expertise in developing fourth-generation SMRs based on high-temperature gas-cooled reactor technology

The signing of the MOU took place on August 25th (local time) in Washington D.C. directly after the “KORUS(Korea-U.S.) Business Roundtable,” with business leaders including Shannon Kellogg, Vice President of Amazon Web Services; Clay Sell, CEO of X-energy; Jooho Whang, President & CEO of Korea Hydro & Nuclear Power and Geewon Park, Chairman & CEO of Doosan Enerbility, in attendance.

According to the terms of the MOU, the four companies will be collaborating on the design, construction and operation of SMRs, establishment of the supply chain, relevant investments and market expansion. AWS, in particular, is showing active engagement as reflected in its investment of approximately USD 700 million in the commercialization of a 5GW SMR.  This SMR model will have a generation capacity equivalent to 64 units of X-energy’s 80MW SMR, and is to be deployed by 2039 to use in the power supply of AWS’ AI data center.

“Backed by the governmental support from both countries, we find it truly meaningful to have this opportunity to speed up the SMR commercialization process,” said Geewon Park, Chairman and CEO of Doosan Enerbility.  “With Doosan’s proven manufacturing capabilities, we will play our role faithfully and do our best to establish this MOU as a best practice for industrial cooperation between the two countries’ energy sectors.

In 2023, Doosan Enerbility had made an equity investment in X-energy and it currently enjoys a strong partnership with X-energy as its main components supplier.  With support from the U.S. Department of Energy (DOE), X-energy is currently engaged in a joint project with Dow Chemical involving the deployment of their first SMR in Texas. The DOE has invested a total of USD 1.2 billion in a show of support for the demonstration of X-energy’s SMR.

That same day, Doosan Enerbility also signed an MOU on nuclear power and SMR cooperation with the U.S. energy developer Fermi America*.
* Fermi America:  an energy development company headquartered in Texas that was co-founded by former U.S Energy Secretary Rick Perry

The two companies will be engaging in a comprehensive partnership for large reactors and SMRs to be supplied to the “AI Campus Project”, a project that is currently being pursued by Fermi America in the state of Texas.  The project involves building a 11GW private grid and world’s largest AI data center by combining various energy sources, such as four large-size reactors (total 4GW), SMRs, gas-fired combined cycle power plants, solar energy and a large BESS(Battery Energy Storage System).

Backed by the successively signed MOUs, Doosan Enerbility plans to further solidify its position in the global energy market by stepping up efforts to enter the U.S. nuclear energy and SMR market.

▲On Aug. 25(local time), attendees pose for a group photo at the SMR-related MOU signing ceremony held directly after the KORUS Business Roundtable in Washington D.C. (From left to right) Jung Kwan Kim, S. Korean Minister of Trade, Industry and Energy; Geewon Park, Chairman & CEO of Doosan Enerbility; Jooho Whang, President & CEO of Korea Hydro & Nuclear Power; Clay Sell, CEO of X-energy; Ray Fakhoury, Energy Policy Manager of Amazon Web Services; Howard Lutnick, U.S. Commerce Secretary.