X-energy, Talen Energy to Evaluate Gigawatt-Scale Xe-100 SMR Deployment

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Key Terms

small modular reactors technical

Small modular reactors are compact nuclear power plants built from factory-made modules that are assembled onsite, like snapping together building blocks to add or replace capacity. They matter to investors because they aim to lower upfront costs and shorten construction time versus traditional reactors—potentially providing steady long-term power sales and service revenue—while still carrying regulatory, construction and waste-management risks that can affect returns.

PJM Interconnection Regional Transmission Organization technical

PJM Interconnection is a nonprofit regional transmission organization that runs the high-voltage electric grid and wholesale power markets across a large multi-state area. It acts like an air-traffic controller and marketplace for electricity, coordinating which generators run, managing reliability, and setting wholesale prices. Investors care because PJM’s rules and market outcomes influence utility and generator revenues, power price volatility, project economics, and regulatory risk for energy-related assets.

baseload capacity technical

Baseload capacity is the portion of power generation that can run continuously to meet the minimum, always-present demand on the electricity grid, like the appliances in your home that stay on 24/7. For investors, baseload assets matter because they typically provide steady, predictable revenue and lower risk compared with intermittent sources; their reliability, operating costs and long-term contracts affect a utility or energy company's cash flow and asset value.

high-temperature gas-cooled reactor technical

A high-temperature gas-cooled reactor is a type of nuclear power plant that uses a gas (usually helium) to carry heat from a ceramic-based fuel core operating at much higher temperatures than conventional reactors. For investors, that higher-temperature design can mean greater efficiency, the ability to drive industrial processes (like hydrogen or steam production) in addition to electricity, and different safety and cost profiles that affect project economics, regulatory risk and market opportunities.

Advanced Reactor Demonstration Program regulatory

A program that funds and coordinates the building and testing of next-generation nuclear reactor prototypes to prove they work safely and economically at real scale. Think of it like paying to build full-size prototypes so engineers can move beyond lab tests; success reduces technical and regulatory risk, attracts private investors, and can speed up commercial deployment, making a big difference to companies and investors exposed to the nuclear supply chain or energy markets.

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03/19/2026 - 07:00 AM

ROCKVILLE, Md.--(BUSINESS WIRE)-- X-energy Reactor Company, LLC ("X-energy" or the "Company"), a leading developer of advanced nuclear reactors and fuel technology, and Talen Energy Corporation (“Talen”) (NASDAQ: TLN), a leading independent power producer, signed a Letter of Intent (“LOI”) to assess deploying X-energy's Xe-100 small modular reactors (“SMR”) in Pennsylvania and across the PJM Interconnection Regional Transmission Organization (“PJM”) market. X-energy and Talen (“the Companies”) will explore opportunities to deploy three or more four-unit Xe-100 plants to add clean baseload capacity to help support reliability and meet growing energy demand from onshoring of manufacturing, data centers, and electrification.

Under the agreement, X-energy and Talen plan to conduct early-stage project development activities, including feasibility studies, site evaluations, and a project execution framework. While specific siting parameters have yet to be finalized, the Companies intend to assess opportunities to transition fossil-fired generation to nuclear power through X-energy SMRs, leveraging established infrastructure, transmission connectivity, and workforce resources.

X-energy's Xe-100 is an 80-megawatt high-temperature gas-cooled reactor that is strongly aligned to meet the Mid-Atlantic region’s growing energy needs, with unique characteristics well-suited to regional grids, hyperscale data centers, and other large commercial off-takers. The Xe-100 is deployed as a four to twelve-unit plant, with each reactor capable of coming online independently upon completion. This allows end users to phase in capacity one unit at a time, aligning new generation with demand growth and matching power supply to real-world load expansion. The Xe-100's advanced design also enables the efficient use of air-cooling systems, significantly reducing overall water usage, and offering greater siting flexibility as compared to conventional reactors.

The partnership intends to support Talen's commitment to Powering the Future. Repowering or adding capacity with technologies like the Xe-100 enables power providers to utilize new sources of energy while preserving critical transmission infrastructure and local economic continuity.

“Our agreement with Talen is an important step forward to strengthen baseload capacity and meet growing energy demands in the PJM market,” said Dinkar Bhatia, X-energy's Chief Commercial Officer. “Our small modular reactor technology is uniquely suited to meet these demand opportunities reliably and safely, with the scalability and flexibility to deploy across a range of project sites.”

“Talen believes that future power demand needs an all-of-the-above supply approach, and this includes new nuclear technology. Commercial nuclear energy is a proven carbon-free energy source that provides for energy independence and diversification,” said Talen President Terry Nutt. “We look forward to working with X-energy as part of our broader commitment to Powering the Future.”

X-energy is currently developing more than 11 gigawatts (“GW”) of new nuclear capacity across commercial partnerships in the United States and United Kingdom. In Texas, X-energy and Dow are advancing a proposed four-unit plant to power industrial processes under the U.S. Department of Energy’s Advanced Reactor Demonstration Program. This is expected to be followed by Energy Northwest’s Cascade Advanced Energy Facility, the first of several X-energy and Amazon projects to deploy at least 5 GW of new nuclear by 2039, as well as a 6 GW commitment from Centrica for the United Kingdom’s first fleet of advanced reactors. Together, these commercial projects further the company’s mission to provide clean, safe, reliable energy solutions capable of meeting growing power demand in the United States, and around the world.

About X-energy

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 advanced small modular nuclear 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 other SMRs and conventional nuclear. For more information, visit X-energy.com or connect with us on X or LinkedIn.

About Talen Energy

Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 13.1 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic, Ohio and Montana. Our team is committed to generating power safely and reliably and delivering the most value per megawatt produced. Talen is also powering the digital infrastructure revolution. We are well-positioned to serve this growing industry, as artificial intelligence data centers increasingly demand more reliable power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.

Forward Looking Statements

This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecasts," "goal," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things, the success of this partnership and proposed project, capital expenditures, litigation, regulatory matters, hedging, liquidity and capital resources, accounting matters, expectations, beliefs, plans, objectives, goals, strategies, future events or performance, shareholder returns and underlying assumptions.

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