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Nuclear project boost
October 28, 2024
|The Citizen
X-ENERGY: DEAL WILL ASSIST AMERICAN COMPANY DEVELOP SMR IN SA
American company X-energy, which has ambitions to build the first small modular reactor (SMR) funded privately in South Africa, just got a game-changer boost from tech giant Amazon.
This is the view of Andre Pienaar, CEO of the investment firm C5 Capital, who was speaking on behalf of C5 as an investor in X-energy.
Speaking to Moneyweb from London, Pienaar – who started his career in SA – said the Amazon investment was driven by the need for clean energy to power artificial intelligence. "One AI enquiry uses 10 times the energy required for a Google enquiry."
The deal
There are three elements to Amazon's involvement with X-energy:
An upfront $300 million (about R5.3 billion) investment that will give Amazon a shareholding in X-energy.
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