advanced reactor company X energy The company began trading on Friday as the AI boom and electrification spark widespread interest in the nuclear industry.
After increasing the initial public offering price to $23 per share, the stock price opened at $30.11, above the original range of $16 to $19 per share. The company raised more than $1 billion, making it the largest nuclear-related initial public offering in history. Shares closed the day at $29.20, up 27%.
The company’s xe-100 reactor is 80 megawatts and can be expanded to up to 960 megawatts by bundling with additional reactors. The xe-100 model is a high temperature gas cooled furnace. In addition to power generation, its high temperature means it can also be used in industrial applications that are difficult to decarbonize, such as chemical production.
All nuclear reactors currently operating in the United States are light water reactors.
Although the company has not yet begun construction of its nuclear reactor facilities, it already has an order pipeline of over 11 gigawatts thanks to partnerships with the following companies: Amazon, Dow and Centrica.
Prior to going public, the company had raised more than $1.4 billion from backers including Amazon, Jane Street, ARK Invest, Citadel’s Ken Griffin, Ares Management funds, and most recently raised a $700 million Series D fund in November. The company also receives funding from the U.S. Department of Energy.
X-energy is the first large advanced reactor company to follow competitors in pursuing the traditional IPO route Oklo and new scale The company went public through a special purpose acquisition company (SPAC) transaction. X-energy previously sought to go public through a SPAC merger, but ultimately abandoned that plan in 2023.
The company’s business model differs from some of its competitors because it does not plan to own or operate nuclear power plants. Rather, it plans to license its technology. XEnergy also plans to sell nuclear fuel produced at its manufacturing facility in Oak Ridge, Tennessee, which will begin construction in 2025.
X-energy’s TRISO facility.
Provided by: X-Energy
In March 2025, X Energy and Dow filed a construction permit application with the U.S. Nuclear Regulatory Commission for a proposed project in Seadrift, Texas. The review process is expected to take 18 months and is part of a two-step process that also includes applying for an operating license.
X-energy is also working with Amazon to deploy 5 gigawatts of electricity across the United States by 2039. The first project will be a 320-megawatt facility in collaboration with Washington utility Energy Northwest, the companies previously announced.
