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U.S. to award X-energy up to $1 billion more for Texas nuclear project
DOE funding for the project since 2021 could reach $2.15 billion, with the latest award requiring a 50/50 federal and private cost share.
The U.S. Department of Energy is preparing to provide X-energy with an additional $1 billion for its planned advanced nuclear project with Dow in Texas, according to OilPrice. The move, via DOE’s Advanced Reactor Demonstration Program, would bring total federal funding available for the effort since 2021 to as much as $2.15 billion.
OilPrice reports that the new DOE money carries the same 50/50 cost-share requirement as the original award, meaning X-energy must match the federal funding with private spending. The company’s CEO Clay Sell said the grant is currently X-energy’s largest source of revenue.
The companies plan to deploy the technology at Dow’s Seadrift petrochemical and plastics complex in Texas, where the reactors would replace existing energy and steam units. OilPrice also reports the reactors are intended to provide both electricity and industrial steam.
Dow and X-energy submitted their construction permit application to the U.S. Nuclear Regulatory Commission last year and are targeting operation in the early 2030s, OilPrice said. The funding level is aimed at moving next-generation reactors toward commercial deployment, with Sell expecting the project to become the first grid-scale advanced nuclear reactor serving an industrial site in North America.
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