X-energy, backed by Amazon, sets IPO target amid growing nuclear power interest

Thu, 16 Apr 2026 09:18:00 +0200

Nuclear energy startup X-energy, supported by Amazon, has initiated its investor roadshow ahead of its initial public offering (IPO), targeting a price range of $16 to $19 per share. If successful at the higher end, the IPO could generate approximately $814 million, providing a significant return to early investors who have collectively invested around $1.8 billion. X-energy specializes in high-temperature, gas-cooled reactors using TRISO fuel, which encases uranium in ceramic and carbon spheres and uses helium for cooling, offering enhanced safety compared to traditional designs. The company also faces ongoing patent disputes with Standard Nuclear, formed from the bankruptcy of Ultra Safe Nuclear Corporation. Despite a global slowdown in new reactor development, startups like X-energy are attempting to scale nuclear power by creating smaller, modular reactors. While no small modular reactors have yet been completed, several firms aim to achieve criticality by the U.S. government’s arb