X-Energy Expects Dow’s 2027 Preliminary Investment Decision

X-energy expects Dow to make a preliminary investment decision in 2027 on a four-reactor project at its Texas chemical plant, marking the next major step after a federal construction permit.

The preliminary decision would follow a gated review of project cost targets and operating and maintenance assumptions. Dow retains the investment and construction decisions.

The U.S. Nuclear Regulatory Commission (NRC) approved a construction permit for four X-energy reactors in Texas Monday, Nov. 9, about a month ahead of schedule. The permit covers four Xe-100 units, each designed to produce 80 megawatts of electricity and 200 megawatts of heat. It was the first construction permit for an advanced nuclear reactor at a U.S. industrial site.

The project would be X-energy’s first commercial reactors. No small modular reactor currently operates in the United States, and the Texas units are not expected to enter service until the early 2030s.

X-energy management expects later permit applications to move substantially faster. The NRC’s stated review goal is roughly six to 12 months. X-energy is making early supply-chain investments in long-lead items and plans to finish the design before construction begins.