Amazon Invests in X-energy

Today, we’re pleased to share an exciting update on how we are bringing our pioneering technology forward.  

X-energy is announcing our latest financing round of approximately $500 million, anchored by Amazon’s Climate Pledge Fund and Citadel Founder and CEO Ken Griffin, Ares Management, NGP, and the University of Michigan. We are also collaborating with Amazon to work together to bring more than 5 gigawatts of new power projects online across the United States by 2039, the largest commercial deployment target for SMRs to date.

Amazon and X-energy will initially work together to develop a four-unit 320-megawatt project with Energy Northwest in central Washington, with the option to increase that project to 12 units and 960 MW. Amazon is immediately committing a direct investment in the Energy Northwest project to fund early development work that X-energy will perform.

The investment and work with Amazon further positions X-energy to help businesses and communities, from technology to heavy industry, meet fast-growing energy demands in the safest, cleanest, most efficient way. To enable this expansion, X-energy and Amazon plan to establish and standardize a deployment and financing model to develop projects in partnership with infrastructure and utility partners.

We believe this announcement is a strong endorsement that ARDP is succeeding in what Congress intended the program to do, while also further establishing X-energy as a leader in advanced reactor commercialization. The supportive government policy and funding has been vital to our initial momentum, ensuring our technology had a clear path to commercialization and scale. As we look ahead, our continued partnership, alongside our commercial efforts with Dow and Amazon, will be essential to our long-term success.

We appreciate your role in helping make these efforts a reality, and if you have any immediate questions, please don’t hesitate to reach out. You can also tune in to the live announcement event happening now at Amazon’s HQ2 in Arlington, Virginia.