X-energy Raises $1B to Expand Nuclear Energy Projects
X-energy has raised over $1 billion through its IPO and private investment to expand its advanced small modular nuclear reactors (SMRs). The funding will be used to license, develop supply chains, and construct a TRISO-X fuel fabrication facility.
X-energy has secured more than $1 billion in capital investment through its IPO and a simultaneous private investment. The company listed on the Nasdaq Global Select Market under the ticker 'XE' with shares priced at $23. X-energy plans to use the proceeds to fund the final stages of licensing, supply chain development, and the construction of its TRISO-X fuel fabrication facility. The company's Xe-100 reactor uses proprietary 'pebbles' containing TRISO particles, which are claimed to be 'intrinsically safe'. X-energy has partnerships with Amazon and Dow Inc. to bring SMR projects online across the U.S. The funding will help the company overcome hurdles and move forward with its projects, including a four-unit plant in Seadrift, Texas, and potential installations in the Mid-Atlantic region.
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