X-energy Eyes $814M IPO at $16–19 Price With Amazon’s $500M Backing
Nuclear startup X-energy targets a $16–19 per share IPO to raise up to $814.3M, following $1.8B in total funding including Amazon’s $500M Series C-1 investment. Amazon has pledged to purchase up to 5GW of nuclear power from X-energy by 2039 and X-energy faces an unresolved patent dispute.
1. IPO Details
X-energy has filed for an IPO aiming to sell shares at $16–19 each, which would raise as much as $814.3 million if priced at the high end. The roadshow highlights a total of $1.8 billion raised to date, reflecting strong investor interest in small modular reactor technology.
2. Amazon’s Investment and Power Purchase
Amazon led X-energy’s Series C-1 with a $500 million commitment and has agreed to buy up to 5 gigawatts of nuclear-generated power by 2039. This strategic partnership supports Amazon’s long-term clean energy goals and provides X-energy with a major customer pipeline.
3. Patent Dispute and Market Risks
X-energy is engaged in a patent infringement dispute stemming from Ultra Safe Nuclear Corporation’s bankruptcy proceedings, with fuel fabrication patents at the core. The company also faces industry-wide challenges such as regulatory delays, cost overruns and the long timelines required to achieve mass manufacturing economics.