X-energy closes $700 million series C-1 round to accelerate the development of the TRISO-X facility in Oak Ridge
Proceeds from the fundraise will further the completion of X-energy's reactor design and licensing as well as the first phase of its TRISO-X fuel fabrication facility in Oak Ridge, Tennessee.
X-energy Reactor Company, a leader in advanced nuclear reactor and fuel technology, has closed an expanded Series C-1 funding round, raising $700 million, $200 million of which came in one swoop.
The Founder and Executive Chairman Kam Ghaffarian said the new funding will help X-energy continue developing safe and clean nuclear energy solutions.
“We are proud to have gained additional support from our industry, government, and investment community since X-energy was founded more than 15 years ago. We look forward to continuing to advance and scale our technology and realize our vision of fulfilling the growing energy needs of future generations,” he said.
The funds will go toward completing X-energy’s reactor design, licensing, and the first phase of its TRISO-X fuel facility in Oak Ridge. It will also support future projects using the company’s Xe-100 small modular reactors (SMRs), known for their safety and efficiency. Each reactor provides 80 megawatts of electricity, and multi-unit plants can generate up to 960 megawatts. The Xe-100 reactors use TRISO fuel, a safer and more efficient alternative to traditional fuel rods.
The lead investors on the funding round were Segra Capital Management, Jane Street, Ares Management, Emerson Collective, and more. Some other notable investors, who came on during earlier rounds were Amazon’s Climate Pledge Fund, Citadel Founder Ken Griffin, and the University of Michigan.
Amazon and X-energy are working together to bring more than five gigawatts of new power projects online by 2039, supporting Amazon’s operations and helping to meet energy demands through clean, carbon-free solutions.
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