Best Engineering in Energy Solutions and Seaborg have signed a Memorandum of Understanding to collaborate with South Korean regulators to identify and meet requirements for the construction and export of the Danish company’s floating nuclear power plants.

The Memorandum of Understanding is to manufacture and sell turnkey power plants combining Samsung Heavy Industry’s ship-building expertise and the Danish company’s Compact Molten Salt Reactor. It also covers development of hydrogen production plants and ammonia plants.

A common misconception about advanced nuclear technologies is that they are largely conceptual and will not be commercialised in time to contribute to meeting near-term climate goals, but a comprehensive look at global efforts to develop advanced nuclear reveals rapid progress towards commercialisation and operation, write Clean Air Task Force, ClearPath, Nuclear Innovation Alliance, Pillsbury and Third Way.

South Korea's Kepco Engineering & Construction Company and Daewoo Shipbuilding & Marine Engineering recently signed a Memorandum of Understanding to cooperate on the development of floating nuclear power plants.

Nuclear industry leaders today outlined the concrete steps they are taking to help reach the goal of the Harmony initiative - to achieve a 25% share of world electricity production by 2050 through the addition of 1000 GWe of new capacity.

Russia and China have held their first meeting for cooperation in the development of marine nuclear energy for floating power plants and potentially for propulsion of large ships.

Russia's commitment to civil marine nuclear power is growing. Power units for three new icebreakers are seen as the forerunners of a small reactor design for next-generation floating nuclear power plants.

The world's first floating nuclear power plant, currently under construction, has been seized by the Court of Arbitration of Saint Petersburg as the shipyard building it faces bankruptcy proceedings.