X-energy, a forward-thinking player headquartered in Rockville, Maryland, specializing in the innovation of compact modular nuclear reactors and cutting-edge fuel technologies, has successfully concluded its latest Series C funding round, securing an additional $80 million investment. Ares Management Corporation and the visionary X-energy Founder Kam Ghaffarian contributed to this substantial financial boost.
This funding round has propelled X-energy's total capital infusion to an impressive $235 million. Noteworthy previous investors in this venture include Ontario Power Generation, Curtiss-Wright Corporation, DL E&C, and Doosan Enerbility.
The strategic allocation of these funds will primarily fuel the expansion of X-energy's operational footprint and bolster its ongoing research and development initiatives. X-energy's unique forte lies in small modular nuclear reactors and pioneering fuel technologies designed to usher in a new era of clean energy generation. At the heart of their innovation portfolio lies the Xe-100, a high-temperature gas-cooled advanced small modular reactor, coupled with their proprietary TRISO-X fuel technology. Additionally, X-energy is charting a groundbreaking path with the development of a mobile microreactor poised to deliver safe, affordable, and zero-carbon energy solutions to global communities efficiently and sustainably.