Mentioned:
The United States Nuclear Regulatory Commission has officially issued a construction permit for a proposed project between Dow and X-energy. And it's the first approval for a gas-cooled reactor nearly 60 years.
What’s happening:
- The United States Nuclear Regulatory Commission has approved a construction permit for four X-energy (NASDAQ: XE) Xe-100 small modular reactors at Dow’s (NYSE: DOW) chemical plant located in Seadrift, Texas
Why it matters:
- This is the first permit that has been issued in the United States for a high-temperature gas-cooled nuclear reactor in nearly six decades
Going deeper:
- X-energy and Dow have publicly stated they are aiming to build 320 megawatts of power to provide electricity and high-temperature steam directly to Dow’s chemical plant in Seadrift, Texas
- American Electric Power (NASDAQ: AEP) and X-energy just recently made major waves when they entered into a joint development agreement to evaluate the potential of building a 960 megawatt advanced nuclear project in Sullivan County, Indiana that would be funded by Amazon (NASDAQ: AMZN)
The fine print:
- Dow does not expect to make a binding decision to fund the proposed project with X-energy for at least one year
