GE Vernova Inc. (GEV), an energy technology company, on Saturday signed a memorandum of understanding with Hitachi Ltd. (6501.T,HTHIY) to explore opportunities to deploy the BWRX-300 small modular reactor in Southeast Asia.
The agreement was signed during the Indo-Pacific Energy Security Ministerial & Business Forum in Tokyo in the presence of U.S. Secretary of the Interior Doug Burgum and Japan's Ministry of Economy, Trade and Industry Minister Ryosei Akazawa.
Under the agreement, the companies will collaborate through the GE Vernova Hitachi Nuclear Energy and Hitachi GE Vernova Nuclear Energy joint ventures to identify commercial opportunities for the BWRX-300 in the region.
The company said that the collaboration will also explore opportunities to incorporate qualified Japanese suppliers and strengthen the supply chain supporting future BWRX-300 deployments in Southeast Asia.
The first unit is under construction at Ontario Power Generation's Darlington site in Canada and is expected to be completed by the end of the decade.
Four small modular reactors are planned for the Darlington site.
The U.S. Nuclear Regulatory Commission is also reviewing an application from Tennessee Valley Authority to construct the first BWRX-300 in the U.S. at the utility's Clinch River site in Oak Ridge, Tennessee.
Hitachi is currently trading, 1.30% lesser at JPY 4,792 on the Tokyo Stock Exchange.
GEV closed the regular trading session on March 16, 2026, at $805.02, down $27.09 or 3.26%. Later, in overnight trading, the share price rose to $810.60, gaining $5.58 or 0.69%, as of 1:26 AM EDT.
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