Holtec launches “mission 2030”

Holtec’s SMR-300s will be deployed in the state of Michigan with a target of 2030 for first commercial operation—making them the very first SMRs to come online in the USA and one of the first anywhere in the world.

The new SMR-300s will be co-located with the existing 800-megawatt Palisades plant, which is on track to restart after an extended outage following shutdown in 2022 thanks to funding from the US Department of Energy and the State of Michigan. The restart of a retired nuclear plant is a world first.

In the SMR launch ceremony held at the Palisades site yesterday, significant milestones in Holtec’s site preparation work for the SMR-300s was highlighted including the signing of an expanded alliance agreement with Hyundai Engineering & Construction to build a 10-gigawatt fleet of SMR-300s in North America through the 2030s, beginning with the landmark Palisades SMR project.

The learning and experience of deployment in the USA will be applied to Holtec’s SMR programme in the UK which will mean faster, more cost-effective and lower risk delivery to support the UK’s net zero targets and energy demands.

Holtec has already invested over $50 million in the preparation of the Michigan site and is on track to start the formal US Nuclear Regulatory Commission permitting process early next year (similar to the UK’s GDA process).

In preparation for construction of the SMR-300s, Holtec today signed an exclusive partnership agreement with Hyundai E&C (one of South Korea’s most experienced nuclear construction companies) to enable rapid scaling of the SMR-300 program based on learnings from the first-of-a-kind SMR-300 project at Palisades.

Hyundai E&C are also a key part of Holtec’s experience and credible UK team alongside Mott Macdonald, Mitsubishi Electric and Balfour Beatty.

Hyundai E&C has delivered 18 nuclear plants in South Korea. Balfour Beatty has delivered complex nuclear solutions since 1956. Mott Macdonald has over 55 years of experience supporting infrastructure growth in civil and defence sectors—with first hand experience working on every UK nuclear power plant to date. Mitsubishi Electric has led the way for safer and more reliable nuclear energy.

Holtec’s Pressurised Water Reactor SMR-300 technology is based on existing UK and US standards. This proven and existing PWR technology is already used in the UK, fits seamlessly into the existing domestic supply chain and is part of the execution team for Sizewell B and other new UK reactors under development including Hinkley Point C.

Dr. Rick Springman, Holtec’s President of Global Clean Energy Opportunities, said:

“The key to making SMR deployment faster and more cost-effective isn’t just learning from the industry—it’s applying those lessons directly to each new project. With Holtec’s in-house manufacturing and Hyundai E&C as our construction partner, we control most of the process, allowing us to refi ne and improve with every reactor we build. That’s how we scale smarter and deliver reliable energy where it’s needed most.”

Gareth Thomas, Director of Holtec Britain, said:

“The UK has a major advantage globally by being able to take advantage of all of the learning and experience from our SMR deployment at Palisades in Michigan, USA. This will mean a significantly quicker, more efficient and cost effective roll out of SMRs here in the UK which will benefit businesses and consumers alike as we transition to net zero and take advantage of opportunities in AI, hydrogen, SAF and advanced manufacturing. These benefits are in addition to our planned £1bn SMR factory in South Yorkshire which will create thousands of highly-paid and highly-skilled jobs directly and through supply chain partnerships.”

ENDS

Contact

For more information or to request an interview, please contact:

Will Murray at [email protected] (07481481723)
Gerry McFall at [email protected] (07465 212113)