Kärnfull Next and Samsung C&T Forge Strategic Partnership to Advance SMR Projects in Nordics

Seoul, South Korea

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Kärnfull Next, Sweden’s leading project developer of small modular reactor (SMR) campuses, has signed a collaboration agreement with construction giant Samsung C&T, during the Korea-Sweden Strategic Industry Summit on December 5. The partnership aims to accelerate and strenghten the development of SMR Campuses within the south Swedish SMR program, Re:Firm South.

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South Korea’s Samsung C&T boasts an impressive track record of landmark nuclear export projects, including the Barakah Nuclear Power Plant in the United Arab Emirates, one of the world’s largest commercial nuclear facilities, and its ongoing collaboration in Romania to develop small modular reactors. Samsung C&T’s expertise in advanced construction and project financing positions it as a key player in realizing Kärnfull Next’s ambitious plans for Sweden.

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As pioneers in SMR project development, Kärnfull Next has conducted extensive pre-feasibility studies at candidate municipalities in southern Sweden, with Valdemarsvik and Nyköping among those publicly announced. This partnership with Samsung C&T represents a significant milestone in the program, focusing on e.g. special purpose vehicle (SPV) project financing, design, licensing, technology selection, environmental impact assessments, and construction preparations.

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The Re:Firm South program aims to establish SMR campuses, i.e. a minimum of two units and co-location capabilities, that provide reliable, clean electricity to the national grid and directly supply energy-intensive facilities such as AI data centers through direct or indirect power purchase agreements (PPAs).

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"With a global leader like Samsung C&T at our side, providing expertise in areas like project financing and advanced construction, we are taking the next step toward making SMRs a reality, contributing to Sweden’s goal of new nuclear power by 2035. Their experience and scale provide invaluable resources to transform our vision into action," says Christian Sjölander, CEO and co-founder of Kärnfull Next.

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"We are proud to partner with Kärnfull Next. By combining our experience in global nuclear projects with their expertise in project development, we are confident that we can help meet Sweden’s future energy needs," says Se-Chul Oh, CEO of Samsung C&T.

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The collaboration between Kärnfull Next and Samsung C&T aims to bring the first project to start of construction by the late 2020s. This partnership will also pave the way for future SMR campuses and the development of co-located innovative energy parks for facilities such as data centers at across the Nordics.