X-Energy Shares Soar on Uranium Supply Deal with Centrus Energy

X-Energy, a small modular reactor (SMR) producer backed by Amazon, saw its shares jump by about 10% on Thursday afternoon. The surge came after the company announced that it had signed a uranium supply deal with Centrus Energy.

The agreement will help X-Energy secure a portion of the specialized fuel its Xe-100 SMRs need to deliver more than 11 GW of nuclear power, as tied to contracts involving clients such as Amazon, Dow, and Centrica.

Centrus will supply low-enriched uranium (LEU) and high-assay low-enriched uranium (HALEU), a higher concentration that allows reactors to generate more heat and electricity. X-Energy's nuclear fuel unit, TRISO-X, will convert the fuel into coated fuel for its reactors.