Dow Inc. Secures SMR Deal with X-Energy After $1.02B IPO
Dow Inc. signed an agreement with X-Energy following its $1.02 billion IPO at $23 per share (opened 31 percent above) to deploy small modular reactors at industrial sites. X-Energy targets first deliveries by early 2030s for Dow’s facilities and AI data centers, potentially cutting energy costs.
1. X-Energy’s $1.02B Upsized IPO
X-Energy raised $1.02 billion by pricing 44.3 million shares at $23 each, opening 31 percent above its $23 IPO price and valuing the company near $12 billion. The offering was more than 15 times oversubscribed, securing funding for advanced modular reactor development.
2. Dow Inc. Partnership for SMR Deployment
Dow Inc. has agreements in place to receive X-Energy’s tristructural-isotropic pebble bed reactors for use at industrial sites and AI data centers. X-Energy aims to deliver the first reactors by the early 2030s, enabling Dow to lower long-term energy costs and enhance power reliability.