Climate tech startups like X-energy and Fervo are finding success in public markets, driven by surging electricity demand from AI data centers. While energy-focused firms thrive, the sector faces a 'K-shaped' divergence where non-energy climate tech struggles for capital.
X-energy's stock surged 27% in its Nasdaq debut, closing at $29.20 with an $11.5B valuation. The nuclear startup's 80-megawatt modular reactor design targets AI data centers, with Amazon planning to purchase up to 5 gigawatts of capacity over the next decade. Dow will receive the company's first power plant.
X-energy began trading Friday in the largest nuclear public offering on record, raising over $1B at $23/share (above $16-19 range). Shares closed 27% higher at $29.20. The company’s xe-100 is an 80MW high-temperature gas-cooled reactor scalable to 960MW, targeting industrial applications. Despite no construction started, it has an 11GW order pipeline with Amazon, Dow and Centrica.
X-energy began trading Friday after pricing its IPO at $23 per share, above its initial $16-$19 range, raising over $1 billion in the largest nuclear public offering on record. Shares closed 26% higher. The company's xe-100 is an 80-megawatt high-temperature gas-cooled reactor scalable to 960 megawatts, with applications in industrial decarbonization. The company has an order pipeline of 11+ gigawatts from partners including Amazon, Dow and Centrica.
X-energy began trading Friday after pricing its IPO at $23 per share, above the initial $16-$19 range, opening at $30.11. The stock closed 34% higher, making it the largest nuclear public offering on record. The company raised over $1 billion with its xe-100 reactor technology—a 80MW high-temperature gas-cooled reactor scalable to 960MW—targeting industrial applications and holding an order pipeline exceeding 11 gigawatts from partners including Amazon, Dow and Centrica.
X-energy raised $1 billion in its IPO yesterday, selling 44.3 million shares at $23 each—a premium above the $16-$19 range. The nuclear startup initially aimed for $800 million. Stock begins trading Friday on Nasdaq under ticker XE. The company has deals with Dow to power a Texas chemical plant and with Amazon to sell up to 5 gigawatts of nuclear power by 2039. X-energy's Xe-100 reactors generate 80 megawatts each using helium-cooled TRISO fuel technology.
