X Energy financing round raises $700 million for nuclear expansion

X Energy financing has reached a new milestone as the company closes an oversubscribed $700 million Series D to accelerate nuclear deployment worldwide.

How will X-energy use its $700 million Series D funding round?

X-Energy Reactor Company, LLC announced it has closed an oversubscribed Series D financing round of approximately $700 million, led by Jane Street. The round attracted new investors including ARK Invest, Galvanize, Hood River Capital Management, Point72, Reaves Asset Management, XTX Ventures and various others, alongside existing backers such as Ares Management funds, Corner Capital, Emerson Collective, NGP and Segra Capital Management.

According to X-energy, the company plans to deploy the proceeds to expand its supply chain and commercial pipeline. Moreover, these funds will support an industry-leading orderbook of more than 11 GW, representing approximately 144 advanced small modular reactors across multiple markets.

What did X-energy leadership say about the new capital?

Founder and Executive Chairman Kam Ghaffarian, Ph.D., said the response from participants in the financing round affirms the role the company expects to play in shaping the future of energy. He recalled that, when he founded X-energy, his goal was to make advanced nuclear energy accessible, affordable and essential to an energy-abundant future.

Ghaffarian emphasized that, with support from both new and existing investors, X-energy is closer to realizing that original vision. Furthermore, he framed the capital raise as a step toward redefining how advanced nuclear can be deployed at scale to deliver reliable, zero-carbon power.

How is X-energy scaling its nuclear technology platform?

X-energy CEO J. Clay Sell stated that the organization is highly focused on building a world-class project and technology delivery platform.

This effort is designed to accelerate commercialization of its Xe-100 reactor and TRISO-X fuel. He noted that the financing success will help deepen relationships with critical deployment partners and fund a robust, reliable supply chain.

Moreover, Sell highlighted that the company is concentrating on successfully delivering projects with customers worldwide. That said, strengthening the nuclear supply chain expansion remains central to ensuring predictable timelines and cost profiles for upcoming deployments.

Where are the Xe-100 reactor projects being deployed?

X-energy is advancing its pioneering Xe-100 advanced small modular reactor and TRISO-X fuel in projects with Dow, Amazon and Centrica.

Its initial proposed four-unit Xe-100 plant is planned for Dow Inc.’s UCC Seadrift Operations manufacturing site on the Texas Gulf Coast. This project is supported by the U.S. Department of Energy’s Advanced Reactor Demonstration Program and is currently under permit review with the U.S. Nuclear Regulatory Commission.

Following the Dow project, X-energy and Amazon announced Amazon’s options to deploy more than 5 GW of Xe-100 projects across the United States by 2039. These deployments would begin with the Cascade Advanced Energy Facility in Washington state in partnership with Energy Northwest. Additionally, X-energy is partnered with British energy and services company Centrica to deploy 6 GW in the United Kingdom.

What is the role of the TRISO-X fuel fabrication facility?

X-energy is constructing an advanced nuclear fuel fabrication facility in the United States to manufacture its proprietary TRISO-X fuel. This TRISO-X fuel fabrication facility is described as a first of its kind domestically. Together, the company’s reactor and fuel portfolio is designed to deliver scalable, safer and more reliable power to meet rapidly growing global energy demand.

Furthermore, the combination of the Xe-100 reactor technology and the TRISO-X fuel is aimed at enhancing safety margins while enabling flexible applications, including industrial process heat, electricity generation and grid support. As the orderbook grows, this integrated approach is expected to support X-energy’s long-term commercial pipeline.

Which advisors supported the Series D transaction?

Moelis & Company LLC and J.P. Morgan Securities LLC acted as placement agents for the Series D transaction. In addition, Latham & Watkins LLP served as legal advisor to X-energy. These advisors helped structure the deal and coordinate participation from both new and existing X energy investors.

What does X-energy do in the nuclear sector?

X-Energy Reactor Company, LLC is a developer of advanced small modular nuclear reactors and fuel technology for clean energy generation.

The firm aims to redefine the nuclear energy industry through safer and more efficient systems and proprietary fuel, delivering reliable, zero-carbon and affordable energy to customers around the world.

According to the company, its simplified, modular and intrinsically safe SMR design broadens the applications and markets for nuclear deployment. In particular, its approach is intended to drive enhanced safety, lower costs and faster construction timelines compared with other SMRs and conventional nuclear plants.

How does this Series D funding round position X-energy for growth?

The oversubscribed Series D funding round strengthens X-energy’s balance sheet at a time of rising global demand for clean, reliable baseload power. Moreover, it gives the company additional resources to execute its Xe100 commercial pipeline, build out its supply chain and progress licensing and demonstration projects in the United States and the United Kingdom.

In summary, the latest capital infusion, combined with strategic partnerships and a growing reactor and fuel portfolio, positions X-energy to play a significant role in the next generation of nuclear power deployment worldwide.