X-Energy Reactor Company, LLC, a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation has completed its Series C financing round with an additional $80 million from Ares Management Corporation and X-energy Founder, Kam Ghaffarian.
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This additional $80 million brings the total capital raised in the Series C financing round to $235 million, including anticipated conversions of certain of the Company’s outstanding convertible notes. Previous investors in the Series C financing round include Ontario Power Generation, Curtiss-Wright Corporation, DL E&C, and Doosan Enerbility.
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“We are grateful to all of our investors for supporting X-energy and advancing our mission to meet growing energy demands facing the world today with clean, safe, affordable, and reliable solutions,” said Kam Ghaffarian, Ph. D., Founder and Executive Chairman of X-energy. “We are proud of the technology advancements our team has developed and are excited about the market opportunities expected to underpin our growth going forward. Combined with our technological advantages and strategic customer and investor collaborations, X-energy is poised to generate value and execute our growth strategy.”
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X-energy is developing the Xe-100, a high-temperature gas-cooled advanced small modular reactor, its proprietary TRISO-X fuel, and a mobile microreactor to safely and efficiently deliver affordable zero-carbon energy to people around the world. TRISO fuel has a more than 40-year demonstrated track record through prototype and full-scale reactors and has been called “the most robust nuclear fuel on earth” by the U.S. Department of Energy.
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About X-Energy Reactor Company, LLC
X-Energy Reactor Company, LLC, is a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation that is redefining the nuclear energy industry through its development of safer and more efficient reactors and proprietary fuel to deliver reliable, zero-carbon and affordable energy to people around the world. X-energy’s simplified, modular, and intrinsically safe SMR design expands applications and markets for deployment of nuclear technology and drives enhanced safety, lower cost and faster construction timelines when compared with conventional nuclear.
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