KRISO Launches SMR-powered Ship R&D Project

□ Korea Research Institute of Ships & Ocean Engineering (KRISO, President Keyyong Hong) announced that it has launched a new R&D project aimed at developing the core technologies for small modular reactor (SMR)-powered ships and floating SMR power generation platforms by 2028.

□ SMRs, a net-zero energy source, are drawing attention in the international community as a clean energy source to realize net-zero and solve energy problems, with renewable energy sources. It is expected to be applied in various fields such as power generation, hydrogen production, district heating, and freshwater production.

□ SMRs are small-sized reactors with a power generation capacity of 300 MWe or less. They are designed to allow the key components to be manufactured in factories in modular form and assembled on site. Compared to the existing large-scale nuclear power plants, SMRs allow reduced construction periods and costs. They also may have high economic feasibility and reduce the radiation emergency planning areas, because a storage tank does not have to be installed, as in hydrogen production.

□ In the fields of shipping and shipbuilding, the applicability of SMRs as the main power source for ships is increasing. KRISO is developing a high-speed Neo-panamax class container ship equipped with SMR.

 * Neo-panamax class: The maximum size capable of passing through the Panama Canal, which was expanded to a width of 40 m and opened in June 2016 (container ships up to 15,000 TEU)

□ In addition, KRISO will develop an floating SMR power generation platform, a nuclear power plant on the sea, so that power generation may be carried out stably in the marine environment, including consideration of many variables, and prepare a commercialization model to supply power to islands in need of more electricity, thereby creating opportunities for commercializing SMRs on the sea.

□ KRISO expects that, in the future, electricity generated from the SMR power generation platform can be used as an energy source for producing eco-friendly alternative fuels such as hydrogen and ammonia.

□ Keyyong Hong, the President of KRISO, said, “Last year, the International Maritime Organization (IMO) set the goal of marine net-zero by 2050, and therefore we need a quick response in the fields of shipping and shipbuilding. Considering this need, SMR-powered ships will be an innovative strategy to achieve marine decarbonization.” He added, “Through the R&D program on SMR-powered ships and offshore floating SMR power plants, we will endeavor to lead the future eco-friendly maritime technologies and form the basis for creating new industries.”