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Rockville, MD, USA · Public (IPO Apr 24, 2026) · x-energy.com
Xe-100 high-temperature gas reactor with TRISO fuel; Amazon and Dow projects
Open roles
100
counted 2026-11-09
Federal awards
$977M
7 grants, contracts, loans
Last private raise
—
no Form D on file
SEC filings
7
latest 2026-08-13
Coming up
LICENSING · LONG MOTT GENERATING STATIONNRC construction permit decision expected (target)
Seadrift, TX
ans.org →+ THESISLICENSING · CASCADE ADVANCED ENERGY FACILITYConstruction permit application to the NRC (target)
Richland, WA
ans.org →+ THESISPOLICY45X: advanced manufacturing
Wind components end after 2027. Solar and battery components: 75% in 2030, 50% in 2031, 25% in 2032, none from 2033. Critical minerals: 75% in 2031, 50% in 2032, 25% in 2033, none from 2034. Affects Graphite.
+ THESISPOLICYDOE Energy Dominance Financing: Constellation and Alliant
Up to $5B conditional loan to Constellation for nuclear uprates (~1.1 GW) and a closed $5.1B loan to Alliant for gas, storage and upgrades (~2.6 GW). The office (formerly the Loan Programs Office) has over $300B of authority. Affects Fission.
+ THESISPOLICYDOE adds helium to the Critical Material List
DOE added helium to its Critical Material List, citing semiconductors, natural-gas leak testing and quantum computing. Helium also cools fusion magnets and high-temperature gas reactors. Affects Helium, Fission.
+ THESISCONTRACTAmazon, AEP, X-energy explore SMR feasibility in Indiana
ANS Nuclear Newswire: Amazon, American Electric Power, and X-energy are partnering up to potentially bring a 960-MW nuclear power plant to western Indiana as the state’s first commercial nuclear generation. The three announced earlier today a joint development agreement to explore the feasibility of a…
ans.org →+ THESISCONTRACTAEP, Amazon and X-energy planning 12-SMR plant
World Nuclear News: US utility American Electric Power and X-energy have signed a joint development agreement to evaluate a potential 960 MW project at a former coal plant site in Sullivan County, Indiana.
world-nuclear-news.org →+ THESISCONTRACTAmazon to fund 12 small nuclear reactors at former Indiana coal plant
TechCrunch (climate): Amazon and X-energy have inked another deal to deploy nuclear power to the grid. This one will generate nearly 1 gigawatt of electricity.
techcrunch.com →+ THESISPOLICYDOE Energy Dominance Financing: 10 large reactors
Up to $17.5B in conditional loans for ten Westinghouse AP1000 reactors at five sites; partners must commit $1B equity per project. Utility selections expected in the second half of 2026. Affects Fission.
+ THESISLICENSING · LONG MOTT GENERATING STATIONNRC environmental review complete (no significant impact)
Seadrift, TX
corporate.dow.com →+ THESISFUNDING · COMPANY ROUNDCompany round: X-energy IPO (Nasdaq: XE)$1.0B
Closed · Company-level IPO proceeds
sec.gov →+ THESISPOLICYForeign-entity (FEOC) supply-chain rules for tax credits
Notice 2026-15 explains how to calculate the material-assistance cost ratio and gives interim safe harbors for 45Y, 48E and 45X. Proposed regulations and safe-harbor tables are still to come. Affects Graphite.
+ THESISHow it works
Fuel is packed in tough ceramic-coated particles (TRISO), often in billiard-ball pebbles, and cooled by helium gas. Runs much hotter than water reactors, which suits industrial heat.
OPEN IN 3D →Others on this approach
Utilities it works with
Places
ProofNRC environmental review for Long Mott finished; construction permit pendingMay 18, 2026yahoo.com
NextConstruction permit and build at Dow's Seadrift site
Supply-chain security
Secured · Contracted · At risk · Unknown — rated only on public evidence; Unknown means nothing has been disclosed.
Sources: company job boards (daily), SEC EDGAR, USAspending.gov, and the reviewed technology spreadsheets. Public records only cover US entities, so foreign companies and private firms that don't file will show gaps.
Public $1.2BPrivate $0
Money behind this company's projects. Company-wide raises are listed but not counted in totals.
No public filings, raises or hiring trend to read yet.
Read from SEC 8-Ks (bankruptcy, default, delisting, restatement, impairment, restructuring), cash runway in annual reports, Form D raises and the 30-day hiring trend. A prompt to look closer, not a credit rating.
2026-11-062026-11-09
By team
By location
Matched recipient: X ENERGY, LLC
STEP 4/6 · AT RISK HALEU is the bottleneckMost advanced designs need HALEU (5–20% enriched), with no commercial US supply at scale yet.
STEP 5/6 · AT RISK Advanced reactor timelinesFuel availability becomes a gating item for first units.
STEP 4/5 · WATCH Advanced nuclear gets anchor customersBuyers fund development and commit to output from first units.
STEP 4/4 · WATCH Office relaunched as Energy Dominance FinancingLending shifts toward nuclear and utility expansions (AP1000 offers, Constellation uprates).
Critical inputs
Policy that applies
2026-11-05 · Value updated
≈$1.4B private + ≈$1.1B IPOwas: ≈$1.4B private + ≈$1.02B IPO2026-10-19 · contract
Amazon to fund 12 small nuclear reactors at former Indiana coal plantTechCrunch (climate): Amazon and X-energy have inked another deal to deploy nuclear power to the grid. This one will generate nearly 1 gigawatt of electricity.2026-10-19 · contract
AEP, Amazon and X-energy planning 12-SMR plantWorld Nuclear News: US utility American Electric Power and X-energy have signed a joint development agreement to evaluate a potential 960 MW project at a former coal plant site in Sullivan County, Indiana.2026-10-19 · contract
Amazon, AEP, X-energy explore SMR feasibility in IndianaANS Nuclear Newswire: Amazon, American Electric Power, and X-energy are partnering up to potentially bring a 960-MW nuclear power plant to western Indiana as the state’s first commercial nuclear generation. The three announced earlier today a joint development agreement to explore the feasibility of a…