Samsung C&T backs Kairos Hermes 2 with up to $100M

Kairos Power and Samsung C&T Engineering and Construction Group signed a binding term sheet on September 21 for Samsung C&T to provide up to $100 million in a mix of direct investment and in-kind engineering services, subject to regulatory approvals, to support the Hermes 2 plant in Oak Ridge, Tennessee. Samsung C&T will join Kairos's integrated EPC team, initially on power-generation systems and balance of plant, while Kairos leads the nuclear island. The cash-versus-services split was not disclosed. Untracked Samsung C&T is the counterparty.