HD Hyundai Shipbuilding & Offshore Engineering (HSOE) announced on March 6 that it has founded the Nuclear Energy Maritime Organization (NEMO) with leading global nuclear energy organizations.
NEMO, which has its secretariat in London of the United Kingdom, will work with the International Maritime Organization (IMO) and the International Atomic Energy Agency (IAEA) to establish global standards and regulations for the deployment, operation and decommissioning of nuclear power in the maritime environment and promote the commercialization of nuclear power at sea.
NEMO will include 11 leading nuclear companies from seven countries including HD Hyundai; Terrapower, a leading U.S. small modular reactor (SMR) company founded by Bill Gates; Westinghouse EC, the world’s most advanced nuclear power plant company; Lloyd Resister of the United Kingdom; and Denmark’s Seaborg, an innovator in molten salt reactors.
HD Hyundai has been working on SMRs with global nuclear power leaders since February, when it invested US$30 million in TerraPower in 2022, and has been working on the next generation of energy technology.
“We are very excited about the launch of NEMO as it can serve as a cornerstone to advance the era of offshore nuclear power,” said Mamdouh el-Shanawany, former head of IAEA’s Safety Division, who will serve as NEMO’s inaugural chair. “We will expand the participation of global organizations that share vision and values with us.”
“Establishing global standards holds the key to the commercialization of next-generation SMRs well suited to the maritime environment,” said Park Sang-min, head of the Green Energy Research Lab at HD KSOE, who will serve as a steering committee member of the NEMO. “Through the establishment of the NEMO, we will lead the world in shipbuilding and nuclear power.”