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X-Energy Receives Extra $1 billion in US Public Funds for Texas Nuclear Project

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X-Energy (XE), a nuclear reactor developer will receive an additional payment of up to $1 billion in US public funding to back a nuclear power project in Texas, its Chief Executive Officer Clay Sell said on an earnings call Thursday.

That will take total public financial support for the project in Seadrift, Texas, to up to $2.15 billion, Sell said, including initial funding provided in 2021. X-Energy is developing the project together with Dow Inc.

The public funding is related to the US Energy Department's Advanced Reactor Demonstration Program which aims to speed up deployment of small reactors in tandem with the private sector.

The project is expected to become the first grid-scale advanced nuclear reactor plant in the US and should start generation from the early 2030s.

"Our project with Dow is important not only because it's our initial deployment but because of the unmatched versatility for nuclear energy that it represents. When completed, our Xe-100s are expected to provide both electricity and high-temperature industrial steam for Dow's operations, demonstrating the range of applications our technology can address," Sell said.

The funding for the project is conditional upon a 50-50 split in cost sharing with partners.

The DOE did not immediately reply to' request for comment.

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