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- X-energy Secures $500M Series C-1 Funding Round Led by Amazon
X-energy Secures $500M Series C-1 Funding Round Led by Amazon
Slice of Energy Team
October 18, 2024
Key Highlights:
X-energy raises $500M in Series C-1 round, led by Amazon.
Funding to support advanced nuclear reactors and TRISO-X fuel fabrication.
Amazon and X-energy to bring 5 gigawatts of SMRs online by 2039.
Initial 320 MW project in Washington with potential expansion to 960 MW.
Collaboration drives carbon-free power for Amazon operations.
Source: Business Wire
Notable Quotes:
“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.”
“X-energy provides an impactful solution to a critical challenge – and the support Amazon, Dow, and other major corporations have provided underscores its potential and merit.”
“Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace.”
Our Take:
X-energy’s latest $500M Series C-1 round, anchored by Amazon, reflects a growing confidence in advanced nuclear technologies as a viable, scalable solution to meet energy demands while reducing carbon emissions. This partnership marks a significant shift in corporate investment toward sustainable energy infrastructure, with Amazon and X-energy at the forefront of deploying small modular reactors. The project in Washington and the long-term goal of bringing 5 gigawatts of power online are clear indicators of how nuclear innovation will play a key role in future energy grids.