X-Energy Secures $700M To Boost Advanced Nuclear Tech

X-energy, a pioneering company in advanced nuclear energy technology, has successfully closed a $700 million Series C-1 financing round to accelerate the commercialization of its small modular reactor (SMR) technology. The upsized funding round attracted several new investors, including Segra Capital, Jane Street, Ares Management, and Emerson Collective. These join existing backers like Amazon’s Climate Pledge Fund, affiliates of Ken Griffin, and the University of Michigan.

The significant investments position X-energy as a front-runner in the SMR market, emphasizing clean, scalable, and reliable nuclear energy solutions that will help bridge the gap toward growing global power demands. Dr. Kam Ghaffarian, Founder and Executive Chairman of X-energy, extended his gratitude to the new and existing investors on the company's mission to advance the deployment of advanced nuclear energy at a very critical time in the global energy transition. "We welcome our new investors along our journey to accelerate the development and deployment of advanced nuclear energy," said Ghaffarian.

The newly acquired funds will primarily be allocated to three key areas: technology development, fuel production, and carbon-free energy projects. Finalizing the design and licensing of the Xe-100 SMR reactor remains a priority. This advanced reactor design boasts 80 MW per unit, with potential scalability up to 960 MW, offering a modular and road-shippable solution that cuts down construction timelines and enhances adaptability.

A large share of the investment will also be used to expand the TRISO-X fuel fabrication facility in Oak Ridge, Tennessee. This facility is crucial for the production of TRISO fuel, a critical component for the Xe-100 reactor. TRISO fuel, known for its high-temperature resistance and safety features, is crucial for the efficient and safe operation of advanced nuclear reactors.

X-energy's current projects have the potential to be implemented in real life. One of its most significant collaborations is with Dow, a leading materials science company worldwide. X-energy is constructing its first Xe-100 plant at Dow's Texas Gulf Coast facility. This will make it the first grid-scale advanced nuclear reactor to power an industrial site in North America. It is one of the ways that nuclear energy can be used in the decarbonization of industrial processes and for reliable, carbon-free power in manufacturing operations.

Prime investor through its Climate Pledge Fund, Amazon has a significant role to play in X-energy's business scale-up. The technology company and X-energy intend to bring on board over 5 gigawatts of new power by 2039 through direct project investments and long-term power purchase agreements. This collaboration is only part of a greater strategy by Amazon toward carbon neutrality - emphasizing how large businesses are starting to look toward nuclear energy as a clean power solution.

Future plans also include standardization of deployment models and expansion of financing structures, said the CEO of X-energy in addressing the proliferation of the emerging technology. It is expected that through developing a scalable and replicable approach to reactor deployment, the costs should decrease and streamline the process for other projects. This strategy is very important as X-energy continues to collaborate with governments, industries, and financial institutions to meet the growing demand for carbon-free energy.

The broader implications of this development are significant. As countries around the world seek to transition away from fossil fuels and achieve ambitious climate targets, advanced nuclear technologies like the Xe-100 are emerging as critical components of a diversified and resilient energy mix. The modular design and road-shippable components of the Xe-100 make it a versatile solution for both industrial applications and grid-scale power generation, particularly in remote or underserved areas.

The expansion of X-energy's operations in Tennessee also underlines the company's commitment to supporting local economies and strengthening the U.S. energy infrastructure. Through investments in fuel production and reactor technology, X-energy is contributing to job creation and technological innovation in the region.

As the company continues to scale its operations and forge new partnerships, it remains at the forefront of efforts to revolutionize the nuclear energy sector. With strong financial backing, a clear roadmap, and a commitment to innovation, X-energy is well-positioned to drive the adoption of advanced nuclear technology and play a leading role in the global transition to a cleaner, more sustainable energy future.