Hyundai E&C eyes US SMR market with FANCO deal

Hyundai Engineering & Construction said Monday it has signed a framework agreement with US small modular reactor developer First American Nuclear Co. to cooperate on the EAGL-1 nuclear reactor project.

The agreement was signed Tuesday at the InterContinental New York Times Square Hotel in New York by Choi Young, executive vice president of Hyundai E&C's New Energy Business Division, and Mike Reinboth, CEO of First American Nuclear Co., known as FANCO. FANCO is developing EAGL-1, the first US liq