Nuclear startup Initially, the company hoped to raise around $800 million.
The stock is expected to begin trading Friday on the Nasdaq Exchange under the symbol XE.
energy is building small modular reactors capable of generating electricity or supplying heat to industrial processes. The company has an agreement with Dow to supply heat and power to a chemical plant in Texas and another with Amazon to sell as much as 5 gigawatts of nuclear energy by 2039. Amazon’s Climate Pledge Fund led X-energy’s Series C-1 round.
Nuclear startups like X-energy have been boosted by growing demand for electricity from data centers and other parts of the economy that have been electrified.
The company says its reactors will generate 80 megawatts of electricity. Each TRISO fuel, which contains a uranium core wrapped in carbon and silicon, was developed years ago to be safer than existing fuel designs, although it has not been widely used. X-energy says its fuel can withstand higher temperatures, which helps keep it contained and reduces the potential for a meltdown.
