X-energy (Nasdaq: XE) signed a Joint Development Agreement with American Electric Power to advance feasibility work for a proposed 960 MW nuclear project.
The partners will evaluate a 12-unit Xe-100 small modular reactor plant near the former Breed Generating Station in Sullivan County, Indiana. The proposal would redevelop an AEP-owned brownfield site. Amazon will provide certain project development funding through milestone-based capital.
X-energy and Amazon’s broader collaboration aims to bring more than 5 GW of new nuclear capacity to the U.S. grid by 2039. The Indiana proposal is X-energy’s third announced U.S. commercial project and fourth worldwide, within an approximate 11.5 GW commercial pipeline. Separately, its first Xe-100 deployment, a proposed four-unit plant serving a Dow site in Texas, is in the final phases of Nuclear Regulatory Commission review of its construction permit application.
American Electric Power (Nasdaq: AEP) signed a joint development agreement with X-energy (Nasdaq: XE) to evaluate a 960-megawatt advanced nuclear project.
The companies are evaluating the former Indiana Michigan Power Breed Generating Station site in Sullivan County, Indiana. Amazon is supporting development through a funding agreement. The proposed facility would use X-energy's Xe-100 small modular reactors, with 12 units of 80 megawatts each. Construction and commercial operation depend on the project reaching a final investment decision and moving forward.
Amazon intends to purchase the electricity under a long-term contract covering facility and operating costs for the contract's duration. AEP says the agreements provide capital protections and financial safeguards for its customers and investors. The companies plan to work with local stakeholders and regulators as development advances.
X-energy (XE) said TRISO-X president Joel Duling will retire from full-time leadership on November 20, 2026. The company said he is stepping back to devote more time to his health, family and personal priorities. He will remain a part-time X-energy employee and senior advisor to CEO J. Clay Sell. TRISO-X vice president and chief of staff Jason Hatfield will take interim leadership, while global COO Dragan Popovic continues to oversee construction of the TX-1 fuel facility.
TRISO-X has completed vertical construction of the 214,000-square-foot facility in Oak Ridge, Tennessee. Work has moved to a phase that includes interior buildout, fuel fabrication equipment installation and construction of supporting facilities.
X-energy (XE) subsidiary TRISO-X announced on September 24, 2026, that it completed vertical construction of the TX-1 fuel facility in Oak Ridge.
The primary structure of the 214,000-square-foot facility is finished. Work now shifts to interior construction, fuel fabrication equipment installation and supporting facilities. Once operational, TX-1 is expected to produce approximately 700,000 fuel pebbles annually, equivalent to 5 metric tons of uranium, with capacity to fuel up to 11 Xe-100 reactors.
TRISO-X received a 40-year Special Nuclear Material License for TX-1 from the U.S. Nuclear Regulatory Commission earlier in 2026. The facility is initially intended to support X-energy's proposed Xe-100 project at Dow's Seadrift site in Texas.
Centrica and X-energy (Nasdaq: XE) have secured UK regulator acceptance of X-energy’s Xe-100 advanced small modular reactor into the Generic Design Assessment process, a key step toward UK commercial licensing. The UK government directed regulators to begin this review, which is expected to take about three years and will be conducted by the Office for Nuclear Regulation, the Environment Agency and Natural Resources Wales. Under their partnership, the companies intend to deploy up to 6 GW of new nuclear capacity in the UK, equivalent to an estimated 10–20 Xe-100 power stations, starting with an initial project at Hartlepool. The GDA submission builds on U.S. licensing progress and is expected to benefit from collaboration with the U.S. Nuclear Regulatory Commission, enabling transfer of design documentation and safety analyses into UK reviews.
X-energy (Nasdaq: XE) subsidiary TRISO-X began the next phase of construction at its TX-1 advanced nuclear fuel fabrication facility in Oak Ridge, Tennessee. The work includes interior build-out, process and fuel-fabrication equipment installation, and new auxiliary structures, with Clark Construction continuing as general contractor.
According to X-energy, the 214,000 sq. ft. plant is expected to produce 700,000 TRISO-X pebbles per year (5 MTU), enough to fuel up to 11 Xe-100 reactors. TRISO-X holds a 40-year NRC Special Nuclear Material License, the first Category 2 HALEU fuel facility license. Recent steps include extending collaboration with Oak Ridge National Laboratory, acquiring 70 additional acres at Horizon Center, and securing a Tennessee economic development grant to support expansion.
X-energy (Nasdaq: XE) reported second quarter 2026 total revenues and grant income of $54.6 million, up 154% from $21.5 million in Q2 2025, driven mainly by higher activity under its 50/50 cost-share ARDP agreement with the U.S. Department of Energy for the Xe-100 reactor project.
Total operating expenses rose 156% to $164.6 million as direct costs and selling, general and administrative expenses increased with expanded project execution, higher headcount and equity-based compensation. The April 2026 IPO generated about $1.1 billion of net proceeds, lifting June 30, 2026 liquidity to $1.9 billion (no debt). The company secured long-term HALEU enrichment agreements, a capacity-expansion deal with SGL Carbon, an $11 million Tennessee grant and added ~70 acres to its Oak Ridge fuel campus. The project pipeline totals 144 reactors in the U.S. and U.K., or roughly 11.5 GWe, assuming full exercise of contingent rights.
X-energy (Nasdaq: XE) subsidiary TRISO-X has extended its cooperative research and development partnership with the U.S. Department of Energy’s Oak Ridge National Laboratory through a new 30‑month agreement. The collaboration, active since 2016, focuses on advancing commercial-scale TRISO nuclear fuel manufacturing via joint research, technology transfer, and process development.
The agreement allows TRISO-X to continue operating its pilot fuel fabrication facility at Oak Ridge, optimizing fuel quality, yield, and characterization methods. It complements construction of the TX-1 commercial TRISO fuel plant and a planned R&D center within TRISO-X’s growing Oak Ridge fuel campus.
X-energy (Nasdaq: XE) and Centrus Energy (NYSE: LEU) signed a definitive, long-term enrichment services agreement covering low-enriched uranium (LEU) and high-assay low-enriched uranium (HALEU) for X-energy’s Xe-100 advanced small modular reactor program. At full execution, X-energy said the deal meaningfully de-risks its Xe-100 project pipeline and secures HALEU to support a portion of the initial fuel needs for its 11.5 GW commercial pipeline.
HALEU from Centrus’s American Centrifuge Plant in Piketon, Ohio will be supplied to X-energy’s subsidiary TRISO-X for TRISO-X coated particle fuel fabrication in Oak Ridge, Tennessee, under a phased approach that scales production with X-energy’s commercial pipeline. TRISO-X holds a 40-year NRC special nuclear material license, and X-energy is advancing more than 11 GW of Xe-100 capacity in the U.S. and U.K. with projects involving Dow, Amazon and Centrica.
TRISO-X (Nasdaq: XE), a wholly owned subsidiary of X-energy, acquired approximately 70 acres of land adjacent to its commercial nuclear fuel campus in Oak Ridge, Tennessee, expanding its Horizon Center Industrial Park footprint from about 125 to over 180 acres.
The added acreage is intended to support utility corridors, equipment staging, fuel storage, and long-term expansion, including a planned second commercial fuel facility (TX-2) and an R&D center (TX-L) alongside the first facility (TX-1). The move follows a July 2026 Nuclear Energy Fund award and builds on TRISO-X’s decade of operations and its NRC commercial license for HALEU fuel fabrication.