Nuclear reactor company X-energy shares surge 27% in strong debut

Advanced nuclear reactor company x-energy It began trading on Friday as the AI ​​boom and electrification boost interest in the nuclear industry overall.

The stock opened at $30.11 after raising its initial offering, setting a price of $23 per share, above its initial range of $16 to $19 per share. The company raised more than $1 billion, making it the largest nuclear IPO in history. Shares finished the day up 27% at $29.20.

The company’s xe-100 reactor is 80 megawatts and can be packaged with additional reactors that can be scaled up to 960 megawatts. The model Xe-100 is a high-temperature gas-cooled reactor. As well as generating electricity, its high temperatures mean it can be used in industrial applications that are difficult to decarbonise, such as chemical production.

All of the nuclear reactors currently operating in the United States are light water reactors.

The company has not yet started construction of any reactor facilities but already has an order pipeline of over 11 gigawatts thanks to partnerships with the following companies. Amazon, Dow And Centre.

Before going public, the company raised more than $1.4 billion (most recently a $700 million Series D fund in November) with backers including Amazon, Jane Street, ARK Invest, Citadel’s Ken Griffin, and Ares Management funds. The company also received funding from the U.S. Department of Energy.

X-energy is the first major advanced reactor company to follow the traditional IPO route after its rivals oklo And NuScale It went public through special purpose acquisition company, or SPAC, transactions. X-energy had previously pursued a listing via a SPAC merger but ultimately abandoned that plan in 2023.

The company’s business model also differs from some of its competitors in that it does not plan to own and operate nuclear power plants. Rather, it will license its technology. X-energy will also sell nuclear fuel produced at its manufacturing facility in Oak Ridge, Tennessee, where construction begins in 2025.

In March 2025, X-energy and Dow applied for a construction permit with the U.S. Nuclear Regulatory Commission for their proposed project in Seadrift, Texas. The review process is expected to take 18 months and is part of a two-stage process that also includes applying for a business license.

X-energy is also working with Amazon to distribute 5 gigawatts of energy across the US by 2039. The first project will be a 320-megawatt facility with Washington power company Energy Northwest, the companies previously announced.