"Nuclear startup X-energy raised $700 million in a Series D found, the company told TechCrunch. The new fundraise comes less than a year after it expanded its Series C from $500 million to $700 million, bringing the total raised in the last year or so to $1.4 billion, a sizable amount even in the heady world of nuclear power startups. X-energy has raised $1.8 billion, to date."
"The new round was led by Jane Street, which joined as an investor in the expanded Series C. Other investors participating include Ares Management funds, ARK Invest, Corner Capital, Emerson Collective, Galvanize, Hood River Capital Management, NGP, Point72, Reaves Asset Management, Segra Capital Management, and XTX Ventures. X-energy is developing high-temperature, gas-cooled reactors, a type more recently used in Japan and China. Each of its Xe-100 reactors can generate 80 megawatts of electricity, and they are fueled by billiard ball-sized, carbon-coated pebbles containing uranium particles."
X-energy secured $700 million in a Series D round, bringing total fundraising to $1.8 billion. The funds will build the supply chain for its small modular reactors (SMRs). The company reports orders for 144 SMRs capable of producing 11 gigawatts, with customers including Amazon, Dow, and Centrica. The financing round was led by Jane Street and included institutional and strategic investors such as Ares Management, ARK Invest, Emerson Collective, Point72, and others. X-energy develops high-temperature, gas-cooled Xe-100 reactors that produce 80 megawatts each using carbon-coated pebble fuel and helium coolant to transfer heat to a steam turbine. Amazon has committed to buy nuclear capacity that could total as much as 5 gigawatts from X-energy by 2039.
Read at TechCrunch
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