X-energy Secures $700M to Advance Modular Nuclear Tech
X-Energy Reactor Company, LLC, a leader in advanced nuclear reactor and fuel technology, has announced the successful closing of its upsized Series C-1 financing round, securing $700 million in new investments. This latest round saw participation from Segra Capital Management, Jane Street, Ares Management funds, Emerson Collective, and several other prominent investors. These entities join the previously announced funding round, which was anchored by Amazon.com, Inc.’s (“Amazon”) Climate Pledge Fund, an affiliate of Citadel Founder and CEO Ken Griffin, affiliates of Ares Management Corporation, NGP, and the University of Michigan.
“We welcome our new investors along our journey to accelerate the development and deployment of advanced nuclear energy and meet the growing demand for reliable, safe, and clean energy,” said Kam Ghaffarian, Ph.D., Founder and Executive Chairman of X-energy. “We are proud to have gained the additional support from our industry, government, and investment community since X-energy was founded more than 15 years ago. We look forward to continuing to advance and scale our technology and realize our vision of fulfilling the growing energy needs of future generations.”
Purpose of the Funding Round
Proceeds from the Series C-1 funding will be allocated toward several critical initiatives that will help accelerate the commercialization of X-energy’s advanced nuclear technology. Specifically, the funding will further support the completion of:
- Reactor design and licensing – Ensuring that X-energy’s Xe-100 reactor meets stringent regulatory requirements.
- TRISO-X fuel fabrication facility – The first phase of this facility, located in Oak Ridge, Tennessee, will be a key enabler of X-energy’s advanced nuclear energy ecosystem.
- Future carbon-free projects – Expanding the reach of Xe-100 small modular reactors (SMRs) to more industrial and energy sector applications.
X-energy’s Advanced Small Modular Reactor Technology
X-energy’s pioneering Xe-100 advanced SMR and TRISO-X fuel are among the safest and most reliable clean energy solutions available today. Designed with modularity, scalability, and cost-efficiency in mind, each reactor unit is engineered to produce 80 megawatts (MW) of electricity. In multi-unit configurations, the plant’s output can range from 320 MW to 960 MW, making it highly adaptable for different energy needs.
The innovative and simplified modular design of the Xe-100 reactor system ensures that components can be manufactured and shipped by road, reducing on-site construction time and overall costs. This makes the deployment of nuclear power plants more predictable, scalable, and geographically flexible.
Strategic Deployment and Industry Impact
X-energy is currently developing its first Xe-100 plant at Dow’s UCC Seadrift Operations manufacturing site on the Texas Gulf Coast. Supported by the U.S. Department of Energy’s Advanced Reactor Demonstration Program, this project is poised to become the first grid-scale advanced nuclear reactor serving an industrial facility in North America.
By providing both zero-carbon emissions power and high-temperature steam, the Xe-100 reactor will offer a transformative energy solution for industrial sites looking to decarbonize their operations. Industries such as chemical manufacturing, hydrogen production, and heavy industrial processes will benefit significantly from X-energy’s technology.
Amazon’s Role in X-energy’s Expansion
Amazon and X-energy are actively collaborating to bring more than five gigawatts of new power projects online across the U.S. by 2039. Amazon’s investment in X-energy aligns with its long-term sustainability goals and helps meet the increasing power demand in key locations.
This collaboration includes:
- Direct project investments to fund development, licensing, and construction of Xe-100 reactors.
- Long-term power purchase agreements (PPAs) to integrate nuclear energy into Amazon’s operations.
- Standardizing deployment and financing models to facilitate project development in partnership with infrastructure and utility providers.
Why X-energy’s SMRs Are a Game-Changer
1. Enhanced Safety and Reliability
Unlike traditional nuclear reactors, X-energy’s Xe-100 SMRs use TRISO-X fuel, which is designed for unparalleled safety. Each fuel particle acts as its own containment system, eliminating the risk of meltdowns and significantly improving operational reliability.
TRISO-X fuel can withstand extreme temperatures and does not require active cooling mechanisms, reducing the likelihood of catastrophic failures.
2. Faster Deployment and Cost Savings
Conventional nuclear reactors require massive infrastructure investments and long construction timelines. X-energy’s modular approach enables faster deployment by utilizing factory-built components that are shipped to sites and assembled efficiently. This method reduces costs and makes nuclear power an economically viable solution.
3. Carbon-Free, Baseload Energy
Unlike intermittent renewables such as wind and solar, X-energy’s SMRs provide consistent and reliable energy output 24/7. The zero-carbon nature of nuclear power makes it an essential component in achieving net-zero emissions goals worldwide.
4. Industrial Decarbonization
High-temperature steam from Xe-100 reactors can be used in chemical plants, hydrogen production, and manufacturing, replacing fossil fuels in energy-intensive processes.
5. National Energy Security
With energy demand rising and the need for domestic, secure energy sources becoming more urgent, X-energy’s modular reactors provide a stable, non-weather-dependent energy supply.
The Future of Nuclear Energy and X-energy’s Market Potential
The global energy landscape is shifting towards decarbonization, with nations implementing stricter emissions regulations. Advanced nuclear technology is poised to play a crucial role in achieving these goals.
Key Market Trends Driving X-energy’s Growth:
- Government Support – The U.S. government has allocated billions in funding for advanced nuclear technology through the Inflation Reduction Act and Department of Energy initiatives.
- Corporate Demand for Clean Energy – Companies like Amazon are actively investing in nuclear power to meet sustainability targets.
- Growing Industrial Decarbonization Needs – As industries seek low-carbon heat and power solutions, advanced nuclear presents a cost-effective alternative.
- Rising Global Electricity Demand – The world’s electricity consumption is expected to double by 2050, requiring a diverse energy mix with reliable baseload power like nuclear.
- Energy Independence and Grid Stability – Countries are focusing on domestic energy sources to reduce reliance on fossil fuels and mitigate energy price volatility.
X-energy’s Long-Term Vision
X-energy’s mission is to revolutionize the nuclear industry by offering an affordable, scalable, and sustainable alternative to fossil fuels. The company is strategically positioned to capitalize on the growing demand for safe, carbon-free, and highly reliable energy solutions.
By leveraging strategic partnerships, government backing, and private investment, X-energy aims to become a leader in the next-generation nuclear power sector.
