X-energy gets green light to build its first small modular nuclear reactors

Summary

• X-energy received federal approval to build four commercial Xe-100 reactors at a Dow chemical plant in Texas.
• Each reactor will generate 80 megawatts of electricity and 200 megawatts of heat.
• This approval marks the first advanced nuclear reactor permit for an industrial site in the United States.
• No small modular reactors are currently operational in the U.S., with X-energy's reactors expected to begin operation in the early 2030s.
• The Union of Concerned Scientists questioned the safety claims of the reactor design and criticized the NRC for deferring critical safety questions.
• Amazon's Climate Pledge Fund led a $500 million Series C-1 investment in X-energy.
• Amazon has committed to purchasing 5 gigawatts of capacity from X-energy.
• X-energy raised $1 billion in an initial public offering in April.
• X-energy shares are trading at less than half their initial offering price despite recent permit news.
• Nuclear power plants are expensive to build and can take years to complete.