ClearPath reposted this
New #nuclear is happening! Amazon and X-energy are partnering together to bring upwards of 5 gigawatts of affordable and reliable #cleanenergy, via Xe-100 advanced SMRs, to the U.S. power markets. X-energy has been marching towards their first commercial project with Dow, via the U.S. Department of Energy (DOE) Advanced Reactor Demonstration Project, eyeing 2030 operation. This announcement catalyzes the order book to build on that initiative! Three big component to this announcement Amazon's Climate Pledge Fund is making a direct investment in X-energy, half a billion dollars, alongside Ken Griffin Ares Management Corporation NGP and University of Michigan, in their new raise. Capital is also being put behind the Energy Northwest project in Washington State, a second flagship project starting with a four-unit 320-megawatt deployment that will be a close follower to Dow project 1. AND a new partnership with Dominion Energy eyeing Virginia's immense demand for new 24/7 clean power. https://lnkd.in/eaZ4Kpkx WOW - Congratulations to these teams. It has been fantastic for ClearPath to partner with them over the years on federal policy like the Advanced Reactor Demonstration Project, new investments in the nuclear supply chain, and regulatory reforms like the recently enacted ADVANCE Act. Excited to see these robust private partnerships drive the technology forward. Here are more details via Matt Garman: https://lnkd.in/eUaKuZEv And a great CNBC overview by Diana Olick: https://lnkd.in/etVytp_C
Amazon and X-energy are collaborating to expand zero-carbon power with advanced small modular reactors. Amazon’s Climate Pledge Fund, along with Citadel Founder and CEO Kenneth Griffin, affiliates of Ares Management Corporation, NGP, and the University of Michigan, have invested $500 million to support X-energy’s technology and future projects. Amazon and X-energy are also working to bring 5 gigawatts of new power projects online across the United States by 2039, starting with a four-unit 320-megawatt project with regional utility Energy Northwest in central Washington. Read more about this groundbreaking announcement: https://bit.ly/487he68 #Nuclear #CleanTech #Xenergy