Samsung Heavy, Seaborg Technologies to develop floating nuclear power plants

South Korean shipbuilder Samsung Heavy Industries Co. had signed a memorandum of understanding with Danish startup Seaborg Technologies to develop floating nuclear power plants based on the compact molten salt reactor (CMSR).

The CMSR is a next-generation compact energy source that ensures the efficient production of electricity without emitting carbon dioxide by using nuclear fission energy.

Samsung Heavy intends to build a floating CMSR power generating model with a maximum output of 800 megawatts by the end of this year as part of this collaboration.

The groups would also jointly boost classification society certification and sales efforts.

Using the electricity generated by the floating power plant, Samsung Heavy is also on track to create production facilities for green energy such as hydrogen and ammonia.