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HTR50S is a small modular reactor system based on HTGR. It is designed for a triad of applications to be implemented in successive stages. In the first stage, a base plant for heat and power is constructed of the fuel proven in JAEA's 950°C, 30MWt test reactor HTTR and a conventional steam turbine to minimize development risk. While the outlet temperature is lowered to 750°C for the steam turbine, thermal power is raised to 50MWt by enabling 40% greater power density in 20% taller core than the HTTR. However the fuel temperature limit and reactor pressure vessel diameter are kept. In second stage, a new fuel that is currently under development at JAEA will allow the core outlet temperature to be raised to 900°C for the purpose of demonstrating more efficient gas turbine power generation and high temperature heat supply. The third stage adds a demonstration of nuclear-heated hydrogen production by a thermochemical process. A licensing approach to coupling high temperature industrial process to nuclear reactor will be developed. The low initial risk and the high longer-term potential for performance expansion attract development of the HTR50S as a multipurpose industrial or distributed energy source.