Amazon splashes £500m on advanced nuclear power push

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.