"X-energy builds high-temperature, gas-cooled nuclear reactors. Its fuel design, known as TRISO, encases uranium in spheres of ceramic and carbon cooled by helium gas, which then transfers heat to a steam turbine to generate electricity."
"Amazon has been among X-energy's most significant backers, leading a $500 million Series C-1 round and committing to purchase as much as five gigawatts of nuclear power from the company by 2039, a contract that underpins X-energy's commercial case significantly."
"The IPO comes at a moment of renewed momentum for nuclear power in the United States, driven in large part by the electricity demands of AI data centres and broad societal electrification."
"The path to the IPO has not been entirely smooth for X-energy: the company had previously attempted to go public via a reverse merger with a SPAC, but cancelled that deal in October 2023 as the SPAC market contracted."
X-energy, a nuclear reactor startup backed by Amazon, is targeting an IPO share price of $16 to $19, potentially valuing the company at around $814 million. The company has raised approximately $1.8 billion from investors and has developed high-temperature, gas-cooled nuclear reactors using a safer fuel design known as TRISO. Amazon has committed to purchasing up to 5GW of nuclear power by 2039. The IPO comes amid renewed interest in nuclear power in the U.S., although X-energy faced challenges in its previous attempt to go public via a SPAC.
Read at TNW | Startups-Technology
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