News Summary

Nuclear startup X-energy has successfully raised $700 million in a Series D funding round. This significant infusion of capital comes less than a year after expanding its Series C from $500 million to $700 million, totaling $1.4 billion raised recently. The company has now accumulated $1.8 billion in total funding. The new funds will be used to develop the supply chain for its small modular reactors (SMRs), with orders for 144 SMRs capable of generating 11 gigawatts of electricity. Customers include Amazon, Dow, and Centrica. X-energy’s high-temperature, gas-cooled reactors are designed with advanced pebble-bed technology. The company is part of a competitive race to bring SMR power plants to the United States, a challenging endeavor as only a few have been built worldwide. Amazon’s Climate Pledge Fund led the Series C, and Amazon plans to purchase significant nuclear capacity from X-energy.