X-energy, a Leading Developer of Small Modular Nuclear Reactor and Fuel Technology for Clean Energy Generation, to Go Public via Business Combination with Ares Acquisition Corporation
X-energy is developing a more advanced small modular reactor ("SMR") and proprietary fuel that can safely and efficiently deliver affordable zero-carbon energy to people around the world.
X-energy's intrinsically safe SMR and fuel design greatly expands applications and markets for deployment of nuclear technology relative to other SMRs and conventional nuclear.
X-energy's technology significantly enhances the applicability for zero-carbon nuclear energy generation with a serviceable addressable market expected to reach approximately $500 billion by 2040 and increase to approximately $1 trillion by 2050.
Supported by $1.2 billion of funding from the U.S. Department of Energy and a