In a significant step toward advancing clean nuclear energy, X-energy has successfully closed a $700 million Series C-1 funding round, aimed at accelerating the commercialization of its cutting-edge small modular reactor (SMR) technology. This round saw a strong influx of new investors, including Segra Capital, Jane Street, Ares Management, and Emerson Collective, alongside Amazon’s Climate Pledge Fund, which continues to back the company’s mission to provide scalable, low-carbon energy solutions.
Strengthening the Future of Nuclear Power
The fresh capital positions X-energy as a leader in the growing market for small modular reactors, an innovative nuclear technology designed to provide clean, reliable, and scalable power for both industrial and energy applications. With the demand for clean power sources increasing globally, SMRs represent a crucial piece of the puzzle in achieving sustainable energy solutions.
Kam Ghaffarian, Founder and Executive Chairman of X-energy, expressed excitement about the new partnership: “We welcome our new investors along our journey to accelerate the development and deployment of advanced nuclear energy. We look forward to continuing to advance and scale our technology,” he stated.
Strategic Use of Funds
The funds will be primarily directed toward advancing X-energy’s Xe-100 SMR reactor, focusing on finalizing its design, securing necessary licenses, and expanding fuel production. A key development is the expansion of the TRISO-X fuel fabrication facility in Oak Ridge, Tennessee, which will be instrumental in supporting the reactors’ deployment.
Additionally, the investment will help X-energy deploy the Xe-100 reactors for various carbon-free industrial and energy applications, aligning with the global push to reduce greenhouse gas emissions and combat climate change.
Why This Matters
X-energy’s efforts mark a pivotal moment in the nuclear energy sector, as the company works to provide a new generation of clean nuclear power that could meet growing energy demands while drastically reducing carbon footprints. This investment further bolsters the momentum for nuclear technology as part of the clean energy transition, contributing to long-term goals of sustainable, reliable power.
This significant funding round underscores the increasing interest in nuclear as a critical solution for addressing climate change, with key investors betting on the potential of X-energy to revolutionize the nuclear landscape.
Sources:
- X-energy Press Release
- Amazon Climate Pledge Fund
