X-Energy, a company in charge of advanced nuclear reactor design, just secured a massive $500 million investment. The tech giant, Amazon anchored this funding round, demonstrating a major commitment to clean energy solutions.
This cash infusion will fuel X-Energy’s efforts to finalize its reactor design and get the necessary licensing approvals. It will also jumpstart the construction of their first TRISO-X fuel manufacturing facility in Tennessee. TRISO-X fuel is a key component of these innovative reactors.
The ultimate goal? Building a series of power plants that utilize these reactors to generate electricity with zero carbon emissions. Amazon, a company with a massive data center footprint, plans to be a major customer, purchasing power from these plants to meet their growing energy needs.
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There’s more to the story though. X-Energy and Amazon are aiming to develop a standardized approach for building and financing these nuclear power plants, making them more readily deployable. Think of it as a ‘nuclear power plant in a box’ concept, streamlining the process significantly.
The initial project will be a four-reactor plant in Washington state, capable of generating 320 megawatts of clean electricity. However, the design allows for the expansion of up to 12 reactors, tripling the power output.
This collaboration is seen as a breakthrough for advanced nuclear technology. Both X-Energy and its backers believe these reactors offer a safe, clean, and reliable path to meeting our ever-increasing energy demands while tackling climate change head-on.
FAQs
Amazon is investing in X-energy as part of its commitment to achieving net-zero carbon emissions by 2040. Advanced nuclear reactors offer a promising solution for providing clean, reliable, and scalable energy, which is crucial for powering Amazon’s growing operations.
Amazon is leading a Series C-1 financing round of approximately $500 million for X-energy.
