Choi Young (right), executive vice president of the new energy department at Hyundai E&C, and Mike Reinboth, CEO of FANCO, pose for a photo at a signing ceremony held at the InterContinental New York Times Sqaure Hotel in New York, Tuesday. (Hyundai E&C) Hyundai Engineering & Construction said Monday it has signed a framework agreement with US small modular reactor developer First American Nuclear Co. to cooperate on the EAGL-1 nuclear reactor project.The agreement was signed Tuesday at the InterContinental New York Times Square Hotel in New York by Choi Young, executive vice president of Hyundai E&C's New Energy Business Division, and Mike Reinboth, CEO of First American Nuclear Co., known as FANCO.FANCO is developing EAGL-1, the first US liquid metal-cooled fast reactor that uses a lead-bismuth coolant. The SMR is designed to generate about 240 megawatts of electricity from a single reactor. A six-reactor modular plant would be capable of supplying power to about 1.2 million households, according to the company.EAGL-1 is also designed to reduce long-lived radioactive waste by using recycled spent nuclear fuel. Its Bridge Power solution allows operators to transition gradually from natural gas-fired generation to nuclear power.Under the agreement, Hyundai E&C will cooperate in the project's early development phase, including the design of the balance of plant systems, which support electricity generation, as well as constructability reviews and modularization strategies.The companies will also explore Hyundai E&C's participation as the engineering, procurement and construction contractor for the project."Through our strategic partnership with FANCO, we aim to support the commercialization of EAGL-1 and strengthen our position in the fast-growing US SMR market," a Hyundai E&C official said.