X-Energy Reactor Company, LLC, a developer of small modular nuclear reactors and fuel technology, announced a $500 million Series C-1 financing round led by Amazon.com, Inc.
The funding will support the finalization of X-energy’s advanced nuclear reactor design and licensing, as well as the initial phase of its TRISO-X fuel fabrication facility in Oak Ridge, Tennessee.
The financing round, which will be led by investors like Citadel Founder and CEO Ken Griffin, aims to advance carbon-free projects using X-energy’s Xe-100 small modular reactors.
Amazon and X-energy are working towards introducing over 5 GW of new nuclear power in the US by 2039, addressing the increasing energy needs, including those of Amazon’s operations, through direct project investments and long-term power purchase agreements.
Initially, the focus will be on supporting a 320-megawatt, four-unit project with Energy Northwest in central Washington, with potential for expansion to 12 units and 960 megawatts.
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This project will be crucial for powering Amazon’s operations while aligning with its Climate Pledge commitment to achieve net zero by 2040.
Kevin Miller, Amazon’s Vice President of Global Data Centers said, “This collaboration between Amazon and X-energy is a significant step toward accelerating advanced nuclear technologies that can help us bring new sources of carbon-free energy to the grid cost-effectively and safely.”
He added, “We need smart solutions that can help us meet growing energy demands while also addressing climate change. X-energy’s technology will be integral in helping achieve this,and is an important step in Amazon’s work to achieve our Climate Pledge commitment to be net-zero by 2040.” 
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Each unit of the Xe-100 reactor produces 80 MW of electricity, and its modular design enables scalability in multi-unit plants ranging from 320 to 960 MW, while also reducing construction timelines and costs.
Additionally, X-energy is developing the first Xe-100 plant at Dow Inc.’s UCC Seadrift Operations site on the Texas Gulf Coast.
This will mark the first grid-scale advanced nuclear reactor serving an industrial site in North America, supported by the US Department of Energy’s Advanced Reactor Demonstration Program (ARDP).