X-energy

X-energy is a Rockville, Md., nuclear reactor and fuel company founded in 2009 by Kam Ghaffarian. It’s developing the Xe-100, an 80 MW high-temperature gas-cooled small modular reactor, along with the TRISO-X pebble fuel that runs it. The company went public on Nasdaq under the ticker XE in April 2026, and it reports an 11 GW commercial pipeline. Its first planned commercial plant is at a Dow Chemical site on the Texas Gulf Coast. On Oct. 19, 2026, American Electric Power, Amazon and X-energy said they’re studying a 960 MW plant of twelve Xe-100 units at the former Breed coal plant site in Sullivan County, Ind.

Two products, and the second is the reason the first is interesting. X-energy designs the Xe-100 reactor and it fabricates the fuel that runs it, which is an unusual pairing in a sector where reactor vendors typically buy fuel from someone else.

The fuel business carries its own brand, TRISO-X, and its own plant. The TX-1 fabrication facility completed vertical construction in September 2026. The Department of Energy has described TRISO as the most robust nuclear fuel on earth, a line X-energy quotes on its own pages. Owning fabrication means the company controls a supply chain that a competitor has to contract for.

The reactor is a Generation IV high-temperature gas-cooled design, and the temperature is the commercial point. A high-temperature output makes process steam available, not just electricity, which is why the company’s stated markets are heavy industry and AI infrastructure rather than utility generation alone. It describes the technology as building on decades of prior high-temperature gas-cooled research rather than as a clean-sheet design.

Regulatory position, as the company states it: the Nuclear Regulatory Commission completed a safety review of the Xe-100 on 30 October 2026, and X-energy maintains a regulatory milestones page tracking the rest of the path. For anyone assessing schedule risk, that page is the document to read rather than any pipeline figure.

Speaking of which, the company puts its commercial pipeline at 11 GW and cites 17 years of innovation. Pipeline is not backlog, and a buyer should treat the two differently.

Named deployment work is where the reality check sits. A project with Amazon and American Electric Power in Indiana was announced on 19 October 2026, and a first commercial plant is planned at a Dow site on the Texas Gulf Coast. The site pages describe global markets and applications without naming further countries.

For contractors, engineers and suppliers browsing this directory, the practical read is that X-energy is a technology and fuel company rather than a constructor. Civil, structural and mechanical work on an Xe-100 site goes to an engineering and construction partner, and the fuel facility itself is a separate industrial build. Firms looking for a route in should watch the deployments and partners pages rather than the reactor technology ones.

Sources: https://x-energy.com/, https://x-energy.com/our-mission/, https://x-energy.com/xe-100/, https://x-energy.com/triso-x-fuel/, https://x-energy.com/regulatory-milestones/, https://x-energy.com/deployments/