X-energy (XE) is a publicly traded Advanced Nuclear Fission company founded in 2009 and based in Rockville, USA.
| Date | Stage | Amount | Valuation | Lead investors |
|---|---|---|---|---|
| Apr 24, 2026 | IPO | $1.0B | — | — |
X-Energy reported Q2 2026 revenues and grant income of $54.6 million, compared to $21.5 million in Q2 2025, driven by increased activity on its DOE Advanced Reactor Demonstration Program (ARDP) agreement and higher grant income. The company recorded a GAAP net loss of $105.3 million for the quarter ($59.1 million attributable to X-Energy post-IPO), versus a net loss of $88.8 million in Q2 2025. Operating expenses surged 156% to $164.6 million, primarily from increased direct costs and SG&A spending tied to expanded ARDP execution, higher headcount, and $28.1 million in equity-based compensation from PIU grants. The company went public in late April 2026, raising $1.1 billion in net IPO proceeds, ending June 30 with total liquidity of $1.9 billion and no debt. Operationally, X-Energy secured long-term HALEU enrichment agreements with Centrus and General Matter, signed an SGL Carbon partnership to double European graphite capacity by 2030, received ARDP continuation approval through March 2027, and became a founding member of DOE's Project Prometheus AI initiative with INL and NVIDIA.
An 80 MWe / 200 MWth pebble-bed high-temperature gas-cooled reactor (HTGR) designed to deliver either electricity or high-temperature steam (up to 565°C) for industrial heat applications. The Xe-100 uses TRISO-X fuel pebbles in a passively safe design that cannot melt down. Four Xe-100 units combine into a 320 MWe plant. Amazon signed a $500M deployment deal in late 2024 for data center power; DOE ARDP funds the Long Mott, Texas demonstration plant.
Proprietary tristructural isotropic (TRISO) particle nuclear fuel fabricated for high-temperature gas-cooled reactors. Each fuel particle encapsulates uranium oxycarbide in four protective ceramic and carbon layers, enabling operation at temperatures that would destroy conventional fuel with no meltdown risk. X-energy's TX-1 fuel fabrication facility in Oak Ridge, Tennessee received NRC license in February 2026 and is under construction to supply the Xe-100 fleet from 2027.
8 patents on file, but none with both an extractable figure and an abstract on Google Patents yet.