X-energy Reactor Co., a pioneering startup in the miniature nuclear reactor sector, has successfully secured $700 million in its latest funding round. This oversubscribed Series D investment was spearheaded by Jane Street, alongside over ten institutional investors. This financial boost comes just a year following a $500 million Series C-1 round backed by Amazon.com Inc.’s Climate Pledge Fund, aiming to enhance nuclear energy collaboration.
The influx of capital supports the development of X-energy’s innovative Xe-100 reactor, which is designed to achieve more than 5 gigawatts of power generation capacity. Notably, the reactor employs specialized fuel known as TRISO-X that the company plans to manufacture at a newly underway facility in Oak Ridge, Tennessee.
Key features of TRISO-X fuel include its unique silvery spheres, each roughly the size of a tennis ball. These spheres contain a microscopic uranium kernel, enveloped in three robust protective layers. The outermost layer of silicon carbide can endure extreme temperatures, while two layers of pyrolytic carbon provide additional strength, effectively ensuring that over 99.99% of fission byproducts remain contained.
Beyond its innovative fuel, X-energy’s reactor technology emphasizes safety, allowing only four components to be actively managed by power plant personnel. This minimizes the risk of human error and enables the Xe-100 to operate continuously for up to 20 years.
Each Xe-100 system contains 200,000 TRISO-X fuel spheres, generating heat absorbed by helium circulated throughout the reactor. This high-temperature helium is then utilized to heat water, producing steam jets that drive a turbine capable of generating up to 80 megawatts of power.
In collaboration with Amazon, X-energy is already in the planning stages for a nuclear power plant in Washington state, which is set to host four Xe-100 reactors with an expected output of 320 megawatts. Moreover, X-energy aims for the long-term goal of deploying over 5 gigawatts of power generation by 2039.
Additionally, the company is partnering with Dow Inc. to construct a four-reactor facility adjacent to one of Dow’s manufacturing sites in Texas, projected to begin operation early in the next decade. With today’s funding announcement, X-energy disclosed a growing sales pipeline featuring 144 reactors, aggregating a substantial power generation capacity of over 11 gigawatts. The capital will enhance its supply chain, fund the construction of its fuel facility, and facilitate new strategic partnerships.
