ROCKVILLE, Md.–(BUSINESS WIRE)–X-Energy Reactor Company, LLC, a leading developer of advanced modular nuclear reactors and fuel technology for clean energy generation, today announced plans for its first Xe-100 reactor fleet management, monitoring, and training facility in Frederick, Maryland. Called the Plant Support Center-East (PSCE), this regional center marks the first step in X-energy’s Commercial Operations Services business and will support the initial deployment of the Company’s advanced modular reactor plants.
“This first center is just the starting point of our advanced nuclear reactor fleet support strategy and a significant part of X-energy’s business growth,” said X-energy CEO, J. Clay Sell. “Our customers expect much lower operating and maintenance costs than the large conventional nuclear fleet today, and X-energy is bringing an innovative business model to the market to meet that need. Modernizing and centralizing fleet services will help drive the cost-competitiveness of our Xe-100 technology as well as establish the potential for a sustainable, long-term business that generates consistent and recurring revenue for X-energy.”
X-energy recently announced plans to install its first Xe-100 reactor at one of Dow’s U.S. Gulf Coast sites. X-energy’s PSCE will support training and operations for that plant, as well as subsequent owners and operators of the first Xe-100 plants. The Company will open additional regional centers to support a growing reactor fleet, which will become hubs for X-energy’s operations, maintenance, and training services business.
The PSCE’s centerpiece is a high-fidelity main control room simulator that integrates real-time plant instrumentation and control systems with X-energy’s custom 3-D virtual reality environment. This innovative technology builds on more than two years of work in partnership with the U.S. Department of Energy’s Advanced Research Projects Agency–Energy (ARPA-E) and the Electric Power Research Institute (EPRI) to develop an innovative “digital-twin” maintenance lab and a U.S.-based, continuous fleet monitoring and diagnostics initiative. X-energy is combining this technology with artificial intelligence and machine learning into a suite of proprietary tools called Xe-100 Data Analytics Tools & Applications, or X-DATA™, to improve reliability as well as reduce predictive and preventative maintenance costs for X-energy’s customers.
As the Xe-100 fleet grows, regional centers will be expanded to provide support services to Xe-100 owners and operators, offering business services in areas such as plant diagnostics, maintenance planning, outage scheduling, supply chains, human resources, and regulatory compliance.
As previously announced on December 6, 2022, X-energy entered into a definitive business combination agreement with Ares Acquisition Corporation (NYSE: AAC) (“AAC”), a publicly-traded special purpose acquisition company. Upon the closing of the transaction, which is expected to be completed in the second quarter of 2023, the combined company will be named X-Energy, Inc. and its common equity securities and warrants are expected to be listed on the New York Stock Exchange.
Completion of the transaction is subject to approval by AAC’s shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions.
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.
About Ares Acquisition Corporation
AAC is a special purpose acquisition company (SPAC) affiliated with Ares Management Corporation, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. AAC is seeking to pursue an initial business combination target in any industry or sector in North America, Europe or Asia. For more information about AAC, please visit www.aresacquisitioncorporation.com
