Amazon Leads $500M Funding Round For X-Energy To Develop Small Modular Reactor (SMR) Nuclear Power Technology; Feasibility Study Planned For SMR Project Near Washington State's Northwest Energy Site; Amazon And X-Energy Target Over 5 Gigawatts Of SMR Power In U.S. By 2039, With Plans For SMR Project At Virginia Nuclear Plant
Portfolio Pulse from Benzinga Newsdesk
Amazon is leading a $500 million funding round for X-Energy to develop Small Modular Reactor (SMR) nuclear power technology. A feasibility study is planned for an SMR project near Washington State's Northwest Energy site. Amazon and X-Energy aim to generate over 5 gigawatts of SMR power in the U.S. by 2039, with plans for a project at a Virginia nuclear plant.
October 16, 2024 | 12:54 pm
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POSITIVE IMPACT
Amazon is investing $500 million in X-Energy to develop SMR nuclear technology, aiming for over 5 gigawatts of power in the U.S. by 2039.
Amazon's significant investment in nuclear technology indicates a strategic move towards sustainable energy solutions, potentially enhancing its long-term growth and sustainability profile.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
X-Energy, supported by Amazon's $500 million investment, is developing SMR nuclear technology with plans for a feasibility study in Washington State.
The funding from Amazon provides a strong financial backing for X-Energy, likely boosting its development and deployment of SMR technology, which could positively impact its market position.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85