Amazon splashes £500m on advanced nuclear power push

The retail giant has invested $500 million in X-energy to help develop advanced small modular nuclear reactors and aims to produce over 5 gigawatts of power in the US by 2039

Dimitris Mavrokefalidis

10/17/2024 9:35 AM

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Amazon announces first five recipients of its $2bn Climate Pledge Fund

Image: Sundry Photography / Shutterstock

Amazon’s Climate Pledge Fund has invested $500 million (£385m) in a financing round for X-energy.

The investment will assist with the development of X-energy’s reactor design and licensing and support a fuel fabrication facility in Oak Ridge, Tennessee.

The funding will also contribute to future projects using X-energy’s small modular nuclear reactors.

X-energy and Amazon plan to bring over 5 gigawatts of new power projects online in the US by 2039.

The partnership will involve a project with Energy Northwest in central Washington, starting with a four-unit 320-megawatt project, with an option to expand to 12 units and 960 megawatts.