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Amazon jumps on nuclear power bandwagon by investing in X-Energy and promising small reactors
The company revealed three deals, including an investment in a fission startup and two development agreements to add nuclear power to the grid.
The company revealed three deals, including an investment in startup X-Energy and two development agreements that aim to add around 300 megawatts worth of capacity in both the Pacific Northwest and Virginia, two data center hotspots. Amazon’s Climate Pledge Fund led a new $500 million Series C-1 round into the company, with participation from other investors including Citadel founder Ken Griffin, NGP, and the University of Michigan. X-Energy specializes in high-temperature gas-cooled reactors, an approach that fell out of favor in the U.S. and Europe but, as new designs emerged, was more recently revived in Japan and China.
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