X-Energy Reactor Company, LLC ("X-energy"), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, and Ares Acquisition Corporation (NYSE:AAC) ("AAC"), a publicly-traded special purpose acquisition company, announced today that they have mutually agreed to terminate their previously announced business combination agreement (the "Business Combination Agreement"), effective immediately. As a result, the extraordinary general meeting of AAC shareholders scheduled for October 31, 2023 to approve the proposed transaction will be convened and then adjourned indefinitely. Additionally, the extraordinary general meeting of AAC shareholders sc

X-Energy Reactor Company, LLC ("X-energy" or "the Company"), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, and the U.S. Department of Energy (the "DOE") have signed a cooperative agreement through 2024 to further advance the development of a mobile microreactor design. The agreement, awarded through the DOE's Office of Nuclear Energy, supports X-energy's continuing work on architecture and key technologies for the preliminary design of the Company's transportable nuclear power plant. The X-energy microreactor is expected to produce three to five megawatts of electricity at a commercially competitive price. The award demonstra

X-Energy Reactor Company, LLC ("X-energy" or the "Company"), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, announced today that Chief Executive Officer of X-energy, J. Clay Sell participated in a SPAC Insider podcast. Click here to hear the podcast. Among the topics Mr. Sell discusses are: How advanced small modular reactors are uniquely positioned in the energy mix for a range of utilities and industrial clients. How X-energy's focus on its proprietary nuclear fuel – TRISO-X - has brought a new business model to the space. X-energy's project on the U.S. Gulf Coast with Dow. The impact of the Inflation Reducti

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X-Energy Reactor Company, LLC ("X-energy" or the "Company"), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, today announced the appointment of Gregory J. Goff to the Company's Board of Directors (the "Board"), effective immediately. Mr. Goff currently serves on the boards of Exxon Mobil Corporation (NYSE:XOM) ("Exxon") and Avient Corporation (NYSE:AVNT) ("Avient"). Mr. Goff is also the founder and president of G&S Energy, a company focused on creating businesses in the energy sector, and GJG Development, a real estate development company. Previously, Mr. Goff served as the Executive Vice Chairman of Marathon Petroleum Corp

X-Energy Reactor Company, LLC ("X-energy" or the "Company"), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, today announced the appointment of Thomas Nixon, a veteran nuclear construction and project management senior executive, as the Company's Senior Vice President for Commercial Operations. Nixon will oversee engineering, licensing, training, and construction activities for X-energy's Xe-100 advanced small modular reactor, including its first deployment at one of Dow's U.S. Gulf Coast sites. Nixon joins X-energy from Google, where he led its global data center expansion strategy as Senior Technical Program Manager for Dat

X-Energy Reactor Company, LLC ("X-energy" or the "Company"), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, today announced the appointment of Dr. Benjamin T. Reinke to Vice President of Global Business Development. In this new role, Dr. Reinke will develop strategic business partnerships to drive the Company's growth and deployment of its advanced small modular reactor technology. "Ben is an extraordinarily talented leader who will continue to help put X-energy in the best position to deliver our technology to meet the needs of the global clean energy market," said X-energy CEO J. Clay Sell. "Since joining our company, Ben h

X-energy is developing a more advanced small modular reactor ("SMR") and proprietary fuel that can safely and efficiently deliver affordable zero-carbon energy to people around the world. X-energy's intrinsically safe SMR and fuel design greatly expands applications and markets for deployment of nuclear technology relative to other SMRs and conventional nuclear. X-energy's technology significantly enhances the applicability for zero-carbon nuclear energy generation with a serviceable addressable market expected to reach approximately $500 billion by 2040 and increase to approximately $1 trillion by 2050. Supported by $1.2 billion of funding from the U.S. Department of Energy and a

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