- Joint development of a `Technology-Agnostic FSMR Standard Platform` with U.S. Firm Sargent & Lundy as mutually preferred partners

- Collaborate on key deployment, licensing and commercialization activities … targeting the U.S. marine nuclear power market

Following completion of its conceptual design in 2025, Samsung Heavy Industries has embarked on the full-scale development of a floating small modular reactor (FSMR) standard platform, which represents a significant step in the development of next-generation marine energy infrastructure.

Samsung Heavy Industries announced July 21 that it has signed a memorandum of understanding (MOU) of the mutually preferred partnership for cooperation with Sargent & Lundy, the United States` leading design and engineering firm for nuclear power plants per industry publication Engineering News-Record`s 2026 Top Design Firms Sourcebook, to collaborate on the development and deployment of a technology-agnostic FSMR standard platform.

Founded in 1891, Sargent & Lundy is a global firm that has led nuclear design and engineering projects for over 70 years.

This agreement supports SHI`s entry into the U.S. market, which is regarded as the world’s largest nuclear power market, and is intended to mark a meaningful step in advancing the FSMR project from the conceptual design stage to actual commercial deployment and production.

Under the MOU, SHI and Sargent & Lundy plan to collaborate to further develop a technology-agnostic FSMR standard platform that can accommodate a range of reactor technologies rather than a single reactor type. This will provide unrivaled versatility, enabling the integration of various reactor types and offering global owners and customers greater flexibility of choice.

In addition, to bring the commercial deployment of the FSMR standard platform to fruition at an early stage, the two companies have agreed to cooperate across the key stages of the FSMR commercialization pathway, including standard plant development, licensing support, construction planning and marine deployment strategy.

Furthermore, the two companies expect to advance the technical maturity of the FSMR aligning with evolving international and U.S. regulatory frameworks.

Through this cooperation, the integration of Samsung Heavy Industries` established offshore plant engineering procurement construction (EPC) execution capabilities with Sargent & Lundy`s nuclear design and engineering know-how is intended to help position SHI` for position in the U.S. market.

Kyung Hee Kim, Head of the Future Business Division (Executive Vice President) at Samsung Heavy Industries, stated, “This cooperation with Sargent & Lundy, a major player in global nuclear design and engineering, will be a milestone that elevates Samsung Heavy Industries` FSMR technology to the next level.” He added, “We will continue advancing  FSMR technology as a strategic area of future growth while exploring commercialization pathways in the emerging marine nuclear power market.”

“This collaboration between Sargent & Lundy and SHI on an agnostic floating SMR standard platform is expected to represent a meaningful step forward for America’s clean energy future. By combining our nuclear engineering leadership with SHI’s proven offshore platform expertise, we are accelerating the development of an FSMR with SMR designs intended for the U.S. market, giving utilities, coastal states and federal agencies a flexible pathway to deploy nuclear energy,” said Sargent & Lundy Executive Vice President and Chief Nuclear Officer Shiven Sulkar. 

※ FSMR is a next-generation marine nuclear power platform that produces electricity by installing a small modular reactor (SMR) on a floating structure. With the recent expansion of artificial intelligence data centers and the explosive surge in electricity demand across all industries, FSMRs are drawing attention as an effective energy infrastructure for coastal and island regions where securing onshore production sites or power grid connections are difficult.