X-Energy, Inc. XE

Company Overview

X-energy, Inc. is a U.S.-based advanced nuclear reactor and fuel technology company focused on the development of high-temperature gas-cooled nuclear reactors and related nuclear fuel systems. The company operates within the advanced nuclear energy, clean energy infrastructure, and nuclear fuel manufacturing industries. Its primary products are the Xe-100 small modular reactor (SMR) platform and proprietary TRISO-X fuel, a form of tristructural isotropic particle fuel designed for enhanced safety and high-temperature performance. Revenue generation has historically been tied to government-backed research and development contracts, engineering services, strategic investment funding, and commercialization partnerships tied to reactor deployment and fuel fabrication.

The company primarily serves utilities, industrial energy users, government agencies, and hyperscale data center operators seeking reliable carbon-free baseload power. X-energy has positioned itself as a next-generation nuclear technology developer emphasizing passive reactor safety, modular deployment, and scalable fuel production. Founded in 2009 by Kam Ghaffarian, the company evolved from a nuclear engineering and technology development venture into a major participant in the U.S. advanced reactor ecosystem through support from the U.S. Department of Energy’s Advanced Reactor Demonstration Program and partnerships with industrial and technology companies.