Fermi America to Partner with Hyundai Engineering & Construction to Develop Nuclear Component of World's Largest, First-of-its Kind, Private Grid for Next-Generation AI

Fermi America, in partnership with the Texas Tech University System, took a significant step announcing it has entered into a memorandum of understanding (MOU) with South Korea's Hyundai Engineering & Construction to plan and develop the nuclear component of what is designed to be the world's largest, first-of-its kind private grid to power next-generation AI.

Hyundai E&C boasts an impressive track record, having built 18 reactors in Korea as well as four reactors at the Barakah Nuclear Power Plant in the United Arab Emirates. Two more reactors are currently under construction in Korea and two additional reactors are in the engineering phase in Bulgaria. The Barakah project stands as one of the most successful and timely international nuclear programs in recent history, delivering all four units safely, within budget, and ahead of global expectations.

The two companies signed the MOU in Seoul, South Korea, setting forth the material terms under which the parties will jointly design and execute the delivery of safe, clean new nuclear power within the world's largest private grid project offering combined-cycle natural gas, grid power, solar power, and battery energy storage including data center infrastructure to deliver up to 11 GW of power.

This MOU provides for the joint planning of a nuclear-based hybrid energy project, development of a detailed business package by project stage, feasibility studies, basic design (FEED) and EPC projects.

"We couldn't be more pleased to partner with the team at Hyundai E&C to power the future of AI," stated Fermi America co-founder Toby Neugebauer. "America doesn't have time to practice – we need to work with proven partners like Hyundai, who have a successful track record of planning and building safe, clean, new nuclear energy. Welcome to Texas!"

"We have been impressed by the executive team Fermi America has assembled, bringing together seasoned leaders in their respective fields," said Hyundai E&C CEO Hanwoo Lee. "We are especially pleased to see familiar faces in nuclear leadership from one of the most successful recent new build projects, and we look forward to working together to bring this ambitious vision to life."

On June 17th, Fermi America submitted its Combined Operating License Application (COLA) to build AP1000 nuclear units in the U.S. The application was accepted for review in record time. With Hyundai E&C on board, Fermi America plans to begin construction on the nuclear power complex next year and aims to have the first reactor operational by 2032.

Fermi America | https://fermiamerica.com/

Hyundai E&C | https://en.hdec.kr/intro_en.aspx

Texas Tech University System | https://www.texastech.edu/