Doosan’s 2025 SMR Strategy: Securing Nuclear Energy Deals to Power the AI Revolution
Doosan’s SMR Projects: Tracking Commercial Scale Deals for AI Data Centers
Doosan has decisively shifted from establishing foundational manufacturing capabilities for Small Modular Reactors (SMRs) to securing large-scale, direct commercial contracts to power the AI industry. This strategic pivot validates SMRs as a critical energy solution for technology companies and establishes Doosan as a key infrastructure provider for the digital economy.
- Between 2021 and 2024, Doosan Enerbility’s efforts centered on proving its manufacturing readiness and securing a place in the nascent SMR supply chain. A key milestone was the April 2022 agreement with NuScale Power to begin producing forging materials for a demonstration project in Idaho, positioning Doosan as a manufacturing partner for first-of-a-kind deployments.
- The strategy accelerated dramatically in 2025 with a focus on commercial offtake, highlighted by the August 2025 collaboration between Doosan Enerbility, Amazon, X-energy, and Korea Hydro & Nuclear Power (KHNP). This partnership aims to deploy X-energy’s Xe-100 SMRs to provide 960 MW of dedicated, carbon-free power for Amazon’s data centers by 2039.
- The scale of commercial ambition escalated further with the August 2025 partnership with Texas-based Fermi America. Doosan will supply critical equipment for the “AI Campus Project,” an 11 GW private grid featuring both large-scale reactors and SMRs designed to power the world’s largest AI data center.
- To support these massive contracts, Doosan Enerbility committed to building physical infrastructure, announcing in December 2025 that it will break ground on South Korea’s first dedicated SMR manufacturing plant. This move signals a transition from producing components for individual projects to enabling serial production for the global market.
Doosan’s Strategic AI and Energy Investments Analysis
Table: Doosan Group’s Strategic Investments (2021-2025)
| Partner / Project | Time Frame | Details and Strategic Purpose | Source |
|---|---|---|---|
| CCL Production Facility | 2025 | Expanded facility investment for Copper Clad Laminates (CCLs), which are essential for high-speed signal transmission in AI semiconductor development. This move supports the component-level needs of the AI hardware ecosystem. | Doosan Expands Facility Investment for CCL … |
| New Technology Investment Fund | Sep 30, 2025 | Formation of a $75 million fund to invest in new technologies, including green energy and fuel cells, to support its strategic pivot. This fund directly supports Doosan Fuel Cell’s move into high-efficiency Solid Oxide Fuel Cell (SOFC) technology for data centers. | Doosan’s 2025 SOFC Strategy: A High-Stakes Pivot |
| Superb AI | Aug 22, 2025 | Doosan Investments led a $9.5 million pre-IPO funding round for AI platform company Superb AI. The investment aims to intensify the partnership and integrate Superb AI’s technology across industrial applications. | Vision AI Platform ‘Superb AI’ Secures $9.5M Pre-IPO … |
| ONExia Acquisition | Jul 28, 2025 | Doosan Robotics acquired an 89.6% stake in U.S.-based integrator ONExia for $25.9 million. The acquisition accelerates its push into AI robot solutions and expands its market access in the United States. | Doosan Robotics acquires a majority stake of U.S.-based … |
| Contoro Robotics | Mar 25, 2025 | Doosan Investment participated in a $12 million Series A round for Contoro Robotics to help scale its AI-powered trailer and container unloading robots for warehouse automation. | Contoro Robotics Secures $12M Series A to Bring AI- … |
| Superb AI | Oct 24, 2024 | Doosan Investments led a $10.2 million Series C funding round for AI training data platform Superb AI. This investment was made to acquire advanced AI data management technology for Doosan’s autonomous solutions. | YC-Backed AI Startup Raises Series C From Korea’s … |
| Doosan Robotics Funding | Jan 5, 2022 | Doosan Robotics raised $33.7 million in a pre-IPO funding round to advance its technology and expand its global sales network for its collaborative robots. | Doosan announces $33.7M raise, as it introduces a robotic … |
| Doosan Bobcat Manufacturing Expansion | May 5, 2021 | Doosan Bobcat invested $70 million to expand its manufacturing facility in Statesville, North Carolina, to increase production capacity for equipment that increasingly incorporates smart and autonomous technologies. | Doosan Bobcat to invest $70 million to add jobs and expand … |
| Ainstein AI | Feb 15, 2021 | Doosan Bobcat made a strategic equity investment in radar sensor startup Ainstein AI to accelerate the development of next-generation sensor systems for autonomous equipment. | Doosan Bobcat invests in Ainstein AI to accelerate radar … |
Doosan’s Partnership Ecosystem for AI and Energy Dominance
Table: Doosan Group’s Key Partnerships (2021-2025)
| Partner / Project | Time Frame | Details and Strategic Purpose | Source |
|---|---|---|---|
| Sivers Semiconductors | Nov 28, 2025 | Partnered with Sivers Semiconductors to develop advanced Ka-band SATCOM panels. This move expands Doosan’s capabilities into high-technology communications sectors that are adjacent to the AI industry. | Sivers Semiconductors and Doosan Partner to Develop … |
| KT | Nov 27, 2025 | Doosan Fuel Cell partnered with telecommunications giant KT to develop an AI-based control platform for fuel cell power plants, enhancing the autonomous operation of energy infrastructure for data centers. | Doosan Fuel Cell Co., Ltd |
| NVIDIA | Oct 31, 2025 | Announced a full-scale strategic partnership with NVIDIA to accelerate “physical AI” integration. The collaboration leverages NVIDIA’s AI leadership to embed advanced intelligence in Doosan’s robotics and machinery. | Press Release : Doosan Group | Doosan Corporation |
| Fermi America | Aug 26, 2025 | Doosan Enerbility partnered with Fermi America to supply long-lead-time nuclear equipment for the 11 GW nuclear-powered “AI Campus Project” in Texas, reinforcing its role as a key supplier for AI’s energy backbone. | Fermi America™ Partners with Doosan Enerbility to … |
| X-energy, Amazon, KHNP | Aug 25, 2025 | Entered a strategic collaboration to deploy X-energy’s Xe-100 SMRs to provide 960 MW of carbon-free power for AI data centers by 2039, with a goal to mobilize up to $50 billion in investments. | Amazon, X-energy, KHNP, and Doosan Partner on $50B … |
| Ceres Power | Jul 28, 2025 | Doosan Fuel Cell began mass production of high-efficiency Solid Oxide Fuel Cell (SOFC) systems using Ceres Power’s technology, targeting power-intensive applications like data centers. | Doosan Fuel Cell begins mass production of … |
| Stanford University’s HAI | May 13, 2025 | Formed a partnership with Stanford’s Human-Centered AI (HAI) institute to support the launch of Doosan’s “Physical AI Lab” and advance AI innovation across its businesses. | Doosan launches AI lab to drive next-gen machinery … |
| Dataiku | Jan 24, 2024 | Partnered with AI platform Dataiku to deploy AI solutions to optimize steel mill efficiency and develop generative AI projects, improving operational agility and reducing costs. | Doosan and Dataiku Revolutionize Steel Mill Efficiency, … |
| Rockwell Automation | Apr 26, 2023 | Doosan Robotics signed an MOU with Rockwell Automation to integrate Doosan’s collaborative robots with Rockwell’s controllers for advanced smart factory solutions. | Rockwell Automation and Doosan Unite to Form … |
| NuScale Power | Apr 26, 2022 | Signed an agreement with NuScale Power to begin production of forging materials for SMRs, marking the official start of manufacturing for the first NuScale SMR project in Idaho. | Doosan Kicks Off NuScale SMR Production for Idaho … |
| Palantir | Feb 23, 2021 | Doosan Infracore partnered with Palantir to implement its Foundry platform, creating a data foundation to connect disparate data sources and drive digital transformation. | Powering Innovation for Doosan Infracore |
Doosan’s Geographic Focus: Targeting US Data Centers from a Korean Manufacturing Base
Doosan is executing a focused geographic strategy, leveraging its advanced manufacturing base in South Korea to secure high-value SMR and energy contracts in the United States data center market.
- From 2021 to 2024, Doosan’s international activities established its role in the U.S. nuclear supply chain. The April 2022 agreement with NuScale to manufacture SMR components in Korea for a project in Idaho was a foundational step, demonstrating its capability to supply U.S. projects.
- The commercial focus pivoted sharply to the U.S. in 2025 as the primary end-market for its energy solutions. The August 2025 partnership with Amazon and X-energy directly targets U.S. data centers as the destination for 960 MW of new nuclear power.
- This U.S. focus was solidified with the August 2025 agreement with Fermi America to supply a large-scale, 11 GW nuclear-powered AI campus in Texas. This positions Doosan as an equipment supplier for one of the largest private energy projects in the country.
- South Korea remains the strategic core for manufacturing and R&D. The December 2025 decision to construct the nation’s first dedicated SMR factory confirms its role as the industrial engine that will supply these major international contracts.
Doosan’s SMR Technology Maturity: From Component Supplier to Commercial Enabler
Doosan has successfully transitioned its SMR technology role from a component manufacturer for pilot projects to a critical equipment supplier for commercially-backed, large-scale deployments powering the AI industry.
- In the 2021-2024 period, Doosan’s activities were centered on the pre-commercial manufacturing stage of SMR technology. The key validation point was the April 2022 agreement with NuScale to begin producing forging materials, proving its ability to manufacture core components for a first-of-a-kind SMR deployment.
- The technology’s commercial viability was confirmed in 2025 by landmark agreements with major technology buyers. The August 2025 partnership with Amazon and X-energy shifted SMRs from a theoretical power source to a contracted, bankable solution for specific AI data center energy requirements.
- The scale of deployment signaled a new level of maturity with the Fermi America “AI Campus Project” announced in August 2025, which plans a private 11 GW grid. This demonstrates market confidence in nuclear technology for private industrial power at an unprecedented scale.
- Doosan’s commitment in December 2025 to build a dedicated SMR manufacturing plant represents the final step toward full commercial maturity. This move from bespoke project supply to standardized, serial production is essential for meeting global demand and reducing costs.
SWOT Analysis: Doosan’s SMR and AI Strategy
Table: SWOT Analysis of Doosan’s Strategic Pivot (2021-2025)
| SWOT Category | 2021 – 2023 | 2024 – 2025 | What Changed / Resolved / Validated |
|---|---|---|---|
| Strengths | Established heavy industrial manufacturing capabilities; early-mover partnership with NuScale Power to produce SMR components. | Secured major commercial contracts with Amazon and Fermi America; vertical integration from manufacturing to dedicated SMR plant construction. | The company’s role evolved from a supply chain partner to a critical enabler of large-scale nuclear projects for the AI industry, validating its manufacturing expertise. |
| Weaknesses | SMR business was dependent on the success of partners’ pilot projects; internal restructuring efforts, like the proposed Doosan Bobcat and Doosan Robotics merger, suggested organizational inefficiencies. | The Doosan Bobcat/Robotics merger was canceled in September 2024 due to shareholder concerns, leaving questions about achieving internal synergies. High capital intensity and long project timelines remain structural risks. | The merger cancellation resolved a shareholder conflict but left the challenge of achieving automation synergies through informal collaboration. The risk of large nuclear projects is now magnified by the increased scale of its commitments. |
| Opportunities | General market demand for clean, reliable baseload power was growing; early signals of AI’s significant energy consumption were emerging. | Explosive growth in generative AI created urgent, massive demand for power. Doosan secured a prime position with deals like the Amazon/X-energy partnership, which targets mobilizing $50 billion for SMR projects. | The opportunity crystallized from a broad “clean energy” trend into a specific, high-value market need from the AI sector, which Doosan’s nuclear manufacturing capabilities are uniquely positioned to fill. |
| Threats | General regulatory hurdles for nuclear projects; competition in the broader renewables sector, exemplified by its partnership with Siemens Gamesa in offshore wind. | Massive execution risk on multi-billion-dollar, decade-long SMR projects with X-energy and Fermi America. Securing regulatory approvals for SMRs at an industrial scale remains a significant unknown. | The primary threat shifted from general market competition to the specific, high-stakes execution risk tied to its ambitious nuclear project pipeline for the AI industry. |
2026 Outlook: Doosan’s SMR Strategy Hinges on Project Execution
Doosan’s success in the year ahead depends entirely on its ability to convert landmark SMR agreements into tangible manufacturing and construction milestones, proving its capacity to power the AI revolution.
- The market will closely monitor progress on the construction of South Korea’s first dedicated SMR plant, announced in December 2025. Progress on this facility is a direct indicator of Doosan’s ability to meet the demand from its large-scale contracts.
- Achieving key milestones for the X-energy/Amazon and Fermi America partnerships will be critical validation points. This includes the start of forging for long-lead-time components and navigating the complex U.S. regulatory process for nuclear projects.
- The company’s showcase at CES 2026 offers a platform to demonstrate a cohesive energy strategy, integrating its SMR, fuel cell, and grid technology offerings into a unified solution for the data center market.
- The planned 2026 technology upgrade to its Ceres-based Solid Oxide Fuel Cell (SOFC) stacks is another key event. Enhanced efficiency will be crucial for competing in the distributed power market for data centers, which complements its larger-scale SMR strategy.
Frequently Asked Questions
What is Doosan’s new strategy for its Small Modular Reactor (SMR) business?
Doosan has pivoted its SMR strategy from establishing foundational manufacturing capabilities to securing large-scale, direct commercial contracts to supply power specifically for the AI industry. Key examples include deals to provide dedicated power for Amazon’s data centers and the world’s largest AI campus, positioning Doosan as a critical energy infrastructure provider for the digital economy.
What are the major SMR deals Doosan secured in 2025 to power data centers?
In August 2025, Doosan Enerbility secured two landmark deals. The first is a collaboration with Amazon, X-energy, and KHNP to deploy SMRs providing 960 MW of carbon-free power for Amazon’s data centers. The second is a partnership with Texas-based Fermi America to supply equipment for the 11 GW nuclear-powered “AI Campus Project.”
How is Doosan preparing to meet the manufacturing demand for these large SMR contracts?
To support its new contracts and enable serial production, Doosan Enerbility announced in December 2025 that it will build South Korea’s first dedicated SMR manufacturing plant. This signals a strategic shift from producing components for individual demonstration projects to mass-producing them for the global commercial market.
Besides building reactors, how else is Doosan involved in the AI industry?
Doosan is investing across the AI ecosystem. It has invested in AI platform company Superb AI, acquired robotics integrator ONExia to accelerate its push into AI robot solutions, partnered with NVIDIA on “physical AI,” and expanded its facility for Copper Clad Laminates (CCLs), which are essential for AI semiconductor development.
What are the biggest challenges or risks to Doosan’s SMR strategy?
The primary threat identified is the massive execution risk associated with its new large-scale projects. This includes managing multi-billion-dollar, decade-long SMR projects with partners like X-energy and Fermi America, as well as the significant and uncertain regulatory hurdles required to get approval for these first-of-a-kind nuclear deployments at an industrial scale.
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