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§ Private Profile · Rockville, MD, USA
X-energy is a technology company.
X-energy develops advanced nuclear reactor technology and specialized fuel for clean energy. Its core product is the Xe-100, a Generation IV high-temperature gas-cooled pebble-bed nuclear reactor. This design uses TRISO fuel pebbles with 20% enriched uranium (HALEU), inherently enhancing safety by preventing meltdowns. Reactors are engineered for both electricity generation and industrial process heat.
Kam Ghaffarian founded X-energy in 2009, envisioning a new era in nuclear power. Leveraging his advanced technology background, Ghaffarian identified the critical need for inherently safer and more versatile nuclear energy systems. This insight drove the development of reactor designs that address energy demands while minimizing environmental impact.
X-energy targets utility providers for grid electricity and industrial sectors needing high-temperature process heat. The company also explores national defense applications. Its long-term vision centers on deploying versatile, passively safe nuclear power systems to establish a secure, sustainable energy future, contributing substantially to global decarbonization.
X-energy has raised $1.7B across 4 funding rounds.
X-energy has raised $1.7B in total across 4 funding rounds.
X-energy has raised $1.7B across 4 funding rounds. Most recently, it raised $700.0M Series D in November 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 24, 2025 | $700M Series D | Jane Street | Ares Management, ARK Invest, Emerson Collective, Galvanize, Hood River Capital Management, NGP, Point72, Reaves Asset Management, Segra Capital, XTX Ventures | Announced |
| Oct 1, 2024 | $700M Series C | Kevin Miller | Bascom Ventures, Cubit Capital, Infinite Capital, Lerer Hippeau, Liquid 2 Ventures, Lockheed Martin Ventures, LombardStreet Ventures, Metaplanet, Plug & Play Ventures, Kenneth Griffin, NGP, Erik Lundberg | Announced |
| Dec 1, 2023 | $240M Series C | — | Bascom Ventures, IBX, Kenneth Griffin, KAM Ghaffarian, David Kaplan, Curtiss Wright Corporation, DL E&C, Doosan Enerbility, Ontario Power Generation | Announced |
| Jan 17, 2023 | $25M Series C | DL E&C, Jongdoo KIM | — | Announced |
X-energy is an advanced nuclear reactor and fuel design engineering company specializing in Generation IV high-temperature gas-cooled small modular reactors (SMRs) and proprietary TRISO-X fuel.[2][3] It builds the Xe-100 (80 MWe base model, scalable to 320 MWe plants) for grid-scale power serving utilities, industrial customers, hyperscalers, and remote sites, alongside the XENITH microreactor (3-10 MWe) for military and critical infrastructure.[1][2] X-energy solves the challenge of providing safe, reliable, clean, factory-built nuclear energy independent of traditional grids, with passive safety features, meltdown-proof fuel enduring extreme temperatures, and rapid deployment in months.[1][3] Growth momentum includes starting construction on the first U.S. TRISO fuel fabrication facility in November 2025, DOD partnerships like Project Pele and ANPI for microreactors, and pre-licensing with the NRC.[1][4]
X-energy emerged as a nuclear innovator focused on next-generation designs, though specific founding year and founders are not detailed in available sources; it has evolved from reactor concepts to active deployment, including family companies commercializing ISS tech and lunar landings.[2][5] The idea stems from reimagining nuclear for modern needs—compact, safe SMRs using TRISO particle fuel for high efficiency and supply control—pivoting from large stationary plants to modular, deployable systems.[2][3] Early traction includes DOD selection for Project Pele microreactors, expansion to ANPI funding eligibility, and 2025 groundbreaking on its U.S.-first fuel facility, aligning with national security directives like Trump's 2025 Executive Order for military reactor deployment by decade's end.[1][4]
X-energy rides the advanced nuclear renaissance, driven by decarbonization demands, energy security for AI data centers/hyperscalers, and resilient power for remote/military sites amid grid strains.[1][2] Timing aligns with 2025 U.S. policy pushes like DOD's ANPI and executive orders mandating military reactors by 2030, plus global SMR adoption for countries lacking large-scale nuclear infrastructure.[1] Market forces favoring it include fuel fabrication leadership (first U.S. TRISO plant), DOD partnerships accelerating tech maturity, and space-nuclear synergies for propulsion/lunar power, positioning X-energy to influence clean energy transitions and off-world exploration.[4][5]
X-energy is primed for commercial Xe-100 deployments by 2027, XENITH military demos, and fuel production ramp-up from its 2025 facility, expanding to space missions via nuclear thermal propulsion.[1][2][5] Trends like AI-driven energy needs, policy-backed SMRs, and lunar/Mars bases will propel growth, evolving its role from innovator to key supplier in secure, scalable nuclear ecosystems. This builds on its mission to deliver deployable clean power anywhere, redefining energy independence in a high-demand world.[1][3]
X-energy has raised $1.7B in total across 4 funding rounds.
X-energy's investors include Jane Street, Ares Management, ARK Invest, Emerson Collective, Galvanize, Hood River Capital Management, NGP, Point72, Reaves Asset Management, Segra Capital, XTX Ventures, Kevin Miller.