A nuclear energy startup backed by Amazon and Rivian Automotive has filed for an initial public offering aiming to raise up to $800 million. X-energy, based in Maryland, plans to use the funds to advance its small modular reactor technology and expand commercial deployment. The company has not yet set a target date for the IPO or disclosed the number of shares it will offer.
The filing with the U.S. Securities and Exchange Commission outlines X-energy’s focus on next-generation nuclear reactors designed for industrial use. These reactors operate at lower temperatures and pressures than conventional designs, reducing construction complexity and costs. The company has already secured agreements with potential customers, including a 2024 deal with Dow Inc. for a 320 MW facility in Texas.
X-energy’s technology differs from traditional nuclear plants by using TRISO fuel—uranium particles coated in ceramic layers—to enhance safety and efficiency. The company claims its reactors can be built in factories and transported to sites, cutting deployment time from decades to years. Rivian, which invested $50 million in 2023, is among the backers supporting this approach.
The IPO comes as the U.S. government pushes to revive domestic nuclear energy to meet clean energy goals. The Inflation Reduction Act includes incentives for new nuclear projects, and X-energy’s reactors qualify for production tax credits. Competitors like NuScale Power and TerraPower are also racing to commercialize similar technologies.
X-energy has not disclosed its valuation but reported $15 million in revenue in 2025, primarily from federal contracts. The company employs about 300 people, with operations in Maryland and Washington state.
Source: techcrunch.com