X-Energy says it has raised about seven hundred million dollars in its new Series D funding round. The round was bigger than expected and was led by Jane Street. The company shared the news on Monday.
Many new investors joined in. These include ARK Invest, Galvanize, Hood River Capital Management, Point72, Reaves Asset Management, and XTX Ventures. Older investors also took part again. These include Ares Management funds, Corner Capital, Emerson Collective, NGP, and Segra Capital Management.
The founder and executive chairman Kam Ghaffarian said the strong interest from investors shows trust in the company. He said it proves that people believe X-Energy will play a big role in the future of clean power.
The company plans to use this money to grow its supply chain. It also wants to strengthen its commercial projects. X-Energy says it already has an order book of more than eleven gigawatts. This is roughly equal to one hundred and forty four advanced small modular reactors.
The chief executive officer J. Clay Sell said this new funding will help the company work more closely with its partners. He said it will also help build a strong supply chain so that the company can deliver its projects on time.
Right now X-Energy is moving forward with its advanced Xe-100 small modular reactor and its special TRISO-X fuel. It is working on projects with big names like Dow, Amazon, and Centrica. The first plan is to build four Xe-100 units at a Dow manufacturing site on the Texas Gulf Coast. This project has support from the US Department of Energy. It is currently under review by the US Nuclear Regulatory Commission.
After the Dow project, X-Energy and Amazon plan to explore more than five gigawatts of Xe-100 projects across the United States by the year twenty thirty nine. The first step would be the Cascade Advanced Energy Facility in Washington state with Energy Northwest.
X-Energy is also working with the British company Centrica to bring six gigawatts of projects to the United Kingdom.
Along with all this, the company is building a new nuclear fuel plant in the United States. This plant will make its own TRISO-X fuel. X-Energy says this type of fuel plant will be the first of its kind in the country.