X-Energy raises another $700 million in a Series D round
The latest round was led by Jane Street.
X-Energy Reactor Company LLC, a leader in advanced nuclear reactor and fuel technology, announced last week that it has closed an oversubscribed Series D financing round of approximately $700 million led by Jane Street, from new investors including ARK Invest, Galvanize, Hood River Capital Management, Point72, Reaves Asset Management, XTX Ventures and various others, as well as existing investors including Ares Management funds, Corner Capital, Emerson Collective, NGP, Segra Capital Management, and others.
“The response and commitment from the participants in this financing round is a strong affirmation of the role X-energy expects to play in shaping the future of energy,” said Kam Ghaffarian, Ph.D., Founder and Executive Chairman of X-energy. “When I founded X-energy, I envisioned a company that could redefine how to make advanced nuclear energy accessible, affordable, and essential to an energy abundant future. With the support of our investors, both new and existing, we are closer to realizing that vision.”
X-energy expects to utilize proceeds from the round to help continue the expansion of its supply chain and commercial pipeline, supporting an industry-leading orderbook of more than 11 GW, representing approximately 144 advanced small modular reactors.
Earlier this year, the company announced a Series C-1 funding round, raising $700 million which will be allocated toward completing X-energy’s reactor design, licensing, and the first phase of its TRISO-X fuel facility in Oak Ridge. Additionally, the funding will support future carbon-free projects that will use X- energy’s Xe-100 advanced SMRs.
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