Statement
27th April 2023
X-energy, Export-Import Bank of Korea Partner to Explore Project Financing Opportunities
X-Energy Reactor Company, LLC (“X-energy”), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, today announced it has signed an agreement with the Export-Import Bank of Korea (“KEXIM”) to explore project financing opportunities for the deployment of X-energy’s Xe-100 advanced small modular reactor (“SMR”). Under the agreement, KEXIM will work with X-energy to provide financing for new or existing projects that utilize Korean manufacturing and supply chain partners.
The agreement follows previously announced partnerships between X-energy and major Korean conglomerates Doosan and DL E&C. Both companies are expected to play significant roles in developing and manufacturing key components and systems for the Xe-100.
J. Clay Sell, X-energy CEO, said, “Our Korean partners bring deep nuclear expertise and track strong records to support the successful deployment of our advanced nuclear technology on a global scale. As we continue to advance our efforts, we are excited to partner with KEXIM to help ensure the resilience and reliability of our supply chain and the delivery of our innovative clean energy solutions to the marketplace.”
Hee-sung Yoon, KEXIM Chairman and President, said, “Through the business agreement with X-energy, we expect business opportunities of Korean companies to expand in various areas of the next-generation SMR field beyond water-cooled reactors.”
KEXIM is an official export credit agency providing comprehensive export credit and guarantee programs to support Korean enterprises in conducting overseas business, including in the nuclear power plant sectors.
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