Holtec International and Hyundai Engineering and Construction achieved a significant milestone on Tuesday, unveiling a new development in small modular reactors (SMRs) in the United States.
As part of the Palisades power plant’s restart initiative in Covert Township, the Mission 2030 project aims to establish the first SMR manufactured and constructed on U.S. soil.
Holtec International CEO Dr. Kris Singh says that the new reactors can power 300,000 homes and will be crucial in addressing energy demands.
“The SMRs will be used not only for electricity generation, but also for providing steam to commercial plants, which you will see come around,” Singh says. “It will create a nucleus for industry here, and you will see commercial plants built, and some of them will use steam from the plant and produce one gigawatt of steam.”
Hyundai and Holtec have plans to build two SMR reactors right here in Covert Township.
Dr. Rick Springman, President of Global Clean Energy Opportunities at Holtec, says the partnership between the two entities would enable rapid scaling of the program, and unlock new opportunities with clean energy.
“Holtec is a builder of a manufacturer of things, and Hyundai is a builder of large EPC projects all over the world,”Springman says. “We have a common vision and goal on how to go about projects, and that’s to design things that can be built. That’s really the core and the compass of our interactions.”
The plan is to launch and deploy the first two-megawatt SMRs at Palisades by the end of 2030.
