X-energy Awarded $148.5 Million Investment Tax Credit for First-of-a-Kind TRISO-X Fuel Fabrication Facility
23 Abril 2024 - 5:05AM
Business Wire
X Energy, LLC (“X-energy”) has been awarded a $148.5 million tax
credit for the construction by its wholly-owned subsidiary, TRISO-X
LLC (“TRISO-X”), of a first-of-a-kind advanced nuclear fuel
fabrication facility (“TX-1”) in Oak Ridge, Tennessee. Funded by
the Inflation Reduction Act of 2022, the award is part of the
Qualifying Advanced Energy Project Tax Credit (48C) program jointly
administered by the U.S. Department of Energy (“DOE”), the U.S.
Department of the Treasury, and the Internal Revenue Service
(“IRS”).
“This award is not just an investment in our technology and
innovations, it’s a massive step forward for building the supply
chain to advance the next generation of nuclear energy,” said
X-energy CEO, J. Clay Sell. “Strengthening energy security here and
around the world requires expanding secure, domestic manufacturing
capabilities across the energy sector. We applaud Congress and the
Department of Energy for creating opportunities to enable the
delivery of TRISO-X fuel on a commercial scale.”
X-energy’s investment in the TX-1 project is expected to create
approximately 400 permanent jobs and 475 construction jobs. The
215,000-square-foot TX-1 fuel fabrication facility is designed to
produce up to 714,000 pebbles per year along with other nuclear
fuel products. Located within the Horizon Center Industrial Park,
the 110-acre TRISO-X campus is situated on land that was formerly
part of the Oak Ridge National Laboratory (“ORNL”) and was part of
a tract released in 1996 for private development to help diversify
the region’s economic base. TRISO-X acquired the campus from the
Oak Ridge Industrial Development Board in 2022.
TRISO-X has already requested a 40-year license from the Nuclear
Regulatory Commission (“NRC”) to possess and use special nuclear
material to manufacture advanced nuclear fuel. Its application was
submitted and accepted by the NRC in 2022. The Commission currently
reports that the review is 45% complete.
Tri-structural isotropic (“TRISO”) particle fuel is considered
“the most robust nuclear fuel on the planet,” according to the DOE,
because it can withstand very high temperatures without melting,
which is key to its safety. TRISO-X manufactures its own
proprietary version of TRISO fuel to ensure supply, improve
quality, and reduce costs. TRISO-X has operated a pilot nuclear
fuel fabrication facility at ORNL since 2016, serving as a
demonstration facility of the company’s patented TRISO fabrication
processes.
The U.S. Department of Energy’s Advanced Reactor Demonstration
Program (“ARDP”) is supporting the initial deployment of X-energy’s
Xe-100 advanced small modular reactor at Dow’s Seadrift, Texas
facility. It is expected to be the first grid-scale advanced
nuclear reactor deployed to serve an industrial site in North
America. ARDP is also providing support for the development of
TX-1, and the initial TRISO-X nuclear fuel produced in Oak Ridge
will be used for the project.
About X-Energy Reactor Company, LLC
X-Energy Reactor Company, LLC, is a leading developer of
advanced small modular nuclear reactors and fuel technology for
clean energy generation that is redefining the nuclear energy
industry through its development of safer and more efficient
advanced small modular nuclear reactors and proprietary fuel to
deliver reliable, zero-carbon and affordable energy to people
around the world. X-energy’s simplified, modular, and intrinsically
safe SMR design expands applications and markets for deployment of
nuclear technology and drives enhanced safety, lower cost and
faster construction timelines when compared with other SMRs and
conventional nuclear. For more information, visit X-energy.com or
connect with us on Twitter or LinkedIn.
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X-energy Robert McEntyre 240.673.6565 media@x-energy.com