X-energy Reactor Company, LLC (X-energy), a leader in advanced nuclear reactor and fuel technology, announced a Series C-1 financing round of approximately US$500 million, anchored by Amazon.com, Inc. (Amazon). The investment will help meet growing energy demands by funding the completion of X-energy’s reactor design and licensing as well as the first phase of its TRISO-X fuel fabrication facility in Oak Ridge, Tennessee. Additionally, the funding will support future carbon-free projects that will use X-energy’s Xe-100 advanced small modular nuclear reactors (SMRs). Citadel Founder and CEO Ken Griffin, affiliates of Ares Management Corporation, NGP, and the University of Michigan join Amazon’s Climate Pledge Fund in the financing round.

Latham & Watkins LLP represents X-energy in the transaction with a corporate deal team led by Washington, D.C. partner Paul Sheridan and New York partner John Slater, with associates Luca Marquard, Justin Reinking, and Armaan Bhimani. Advice was also provided on banking matters by Washington, D.C. partners Manu Gayatrinath and Jennifer Kent, with associates Melissa Doura, Jen Goldshtein, and Hannah Valentine; and on tax matters by Houston partners Tim Fenn and Jared Grimley, with associate Christine Mainguy.