This year, the organizers of Earth Day challenged the occasion’s more than 1 billion celebrants to do more than just take to social media or raise awareness. They asked governments, institutions, businesses, and citizens around the world to take actionable steps to “Invest in Our Planet.”
Here at X-energy, we’re already on it. Investing in our planet is more than just a theme, slogan, or a once-a-year celebration—it’s a core tenet of our company.
We understand that amidst undeniable climate disruption, life hasn’t stopped. People all over the world still need to heat their homes, keep their lights on, charge their appliances, and maintain access to the goods and services they rely on. And those energy needs will only continue to grow. In fact, energy demand is expected to increase by 50% by 2050.
While solar, wind, and hydro are all part of the solution, they lack the power needed to generate base-load energy, support heavy industries, and power the grid. Nuclear energy is the solution to bridge that gap. Here at X-energy, we have created the advanced nuclear technology needed to complement renewables and accelerate progress to reduce global emissions.
And soon, we will see this investment in action. This spring, we announced a groundbreaking partnership with Dow, the world's leading materials science company, to develop a four-unit Xe-100 facility at one of Dow's U.S. Gulf Coast sites. These investments will not only serve as a leading example of how the industrial sector can effectively reduce emissions, it will prove the unique value and safety of nuclear, once and for all.
Currently, only 10% of all electricity comes from nuclear, but X-energy is positioned to change that. Our Xe-100 is scalable, easily transportable, and meltdown proof, and our science is trusted and tested. X-energy has been awarded more than $80 million from the Department of Energy’s Advanced Reactor Demonstration Program (ARDP), and the Inflation Reduction Act further affirmed the confidence and potential in advanced nuclear.
Not only will our reactors help curb the release of emissions in the long-term, they will have immediate, positive environmental impacts, too. Our advanced reactors occupy less land, require less water, and utilize a self-contained fuel source to better manage waste.
Through meaningful investments in innovative solutions, we have the power – and ability - to chart the future. The work we are doing at X-energy is proof we can meet growing energy demands while reducing emissions. This Earth Day, and every Earth Day to come, we are committed to doing our part to create a better world for all.