The U.S. Congress and the Administration continue to demonstrate
their leadership in recognizing that advanced nuclear energy is an
important carbon-free base-load power source that will allow the US
and the world to achieve global carbon reductions by 2050.
ROCKVILLE, Md., Nov. 15, 2021 /PRNewswire/ -- The historic
Infrastructure Investment and Jobs Act has passed into law. The
package provides almost $2.5 Billion
dollars through Fiscal year 2025 for the Department of
Energy's contribution to the Advanced Reactor Demonstration
Program, which selected X-energy and Terrapower to demonstrate
their advanced nuclear reactors before the end of the decade. Each
company will split the cost of demonstration reactor with the DOE
and the passage of the infrastructure bill is a strong indicator of
the government's commitment to the policy direction and financial
investment that is required to deploy the reactors as soon as
possible.
"This is a massive endorsement from the federal government of
X-energy's first commercial deployment in Washington State and the opportunity for
advanced nuclear energy in creating jobs as well as rebuilding U.S.
infrastructure," said Clay Sell,
X-energy CEO. "We are very appreciative of the continued strong
bipartisan support from Congress and the President."
In March 2021, X-energy signed the
Department of Energy's Advanced Reactor Demonstration Program
(ARDP) Cooperative Agreement. This officially marked the beginning
of the company's participation in ARDP and partnership with the
DOE. This project enables X-energy to build the world's first
commercial scale advanced nuclear reactor in Washington State through a partnership with
Energy Northwest. ARDP is designed to spur domestic private
industry to demonstrate advanced reactors in the United States and the global export
market.
By passing the Infrastructure Investment and Jobs Act, Congress
and the Administration continue to demonstrate their leadership by
acknowledging clean energy supply as a significant piece of our
nation's infrastructure and economic health. It's a vote of
confidence in advanced nuclear energy as a vital carbon-free
base-load power source that will allow the US and the world to
achieve our global carbon reductions by the middle of this
century.
"The Infrastructure Investment and Jobs Act sends a strong
message that the U.S. will support the Advanced Reactor
Demonstrations to their full and successful completion." said
Darren Gale, X-energy Vice President
and ARDP Program Manager. "This support ensures the success of our
reactor and fuel technology at commercial scale".
X-energy's high temperature gas reactor (HTGR) is a game-changer
for nuclear energy. It enables flexible siting, lowers the cost of
building nuclear plants, and is powered by TRISO-X, which the
Department of Energy has called the "the most robust fuel on
Earth." The Xe-100 reactor does not need to be located near water
and could be a great alternative for areas that are retiring coal
plants by providing clean energy and jobs to local communities.
In addition to clean, around-the-clock carbon-free electricity,
the steam from the Xe-100 can be used in applications including
clean hydrogen production, desalination, and other energy-intensive
industrial processes. Our reactor is a revolution in the way the US
produces energy and the infrastructure bill is an important step
toward making it a reality.
About X-energy
X-energy is redefining nuclear energy. It manufactures fuel that
seals uranium particles in a protective coating, which makes
meltdown impossible and retains the uranium fuel forever. X-energy
also designs plants that unlock the fuel's energy potential in a
process that's as clean as wind or solar. When combined, the result
is reliable carbon-free baseload power, produced more safely and
affordably than ever before and available anywhere, at any time.
For more information, visit https://x-energy.com or connect with us
on Twitter, LinkedIn or Instagram.
Contact:
media@x-energy.com
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SOURCE X-energy