X Energy Reactor Company , LLC ( X-energy ), a developer of small modular nuclear reactors and fuel technology for clean energy generation , and Ares Acquisition Corporation ( AAC ), a publicly-traded special purpose acquisition company have entered into a definitive business combination agreement . The combination will establish X-energy as a publicly-traded , developer of a more advanced small modular reactor ( SMR ) and proprietary fuel that supports the transition to clean , affordable energy through enhanced safety , lower cost , |
scalability , and broader industrial applications . X-energy ’ s entry into the public markets is expected to accelerate its growth strategy through additional investment opportunities and financial flexibility as well as differentiated sponsorship by Ares Management Corporation ( ARES ), a global alternative investment manager . X-energy is advancing nuclear energy generation through its latest-generation high-temperature gas-cooled reactor ( HTGR ), the Xe- 100 , and its proprietary tri-structural isotropic ( TRISO ) encapsulated particle fuel , TRISO-X . Representing the next stage in the evolution of nuclear energy technology , the pioneering design of the Xe-100 couples its scalability , innovative modularity , enhanced safety , and higher temperature capabilities with decades of HTGR research and operating experience . The Xe-100 can also uniquely address a broader range of uses and applications compared with conventional nuclear reactors . This specifically includes applications that currently rely on fossil fuels to produce steam and heat for processes like manufacturing , petroleum refining , and hydrogen production . |
German policymakers have now come to recognise the potential of CCS . In an evaluation report on the Carbon Dioxide Storage Act , Germany ’ s Federal Ministry for Economic Affairs and Climate Action ( BMWK ) recently noted that the country would have to safely store up to 73 million tonnes of CO2 each year under the seabed if it is to achieve net zero by 2045 . However , there are still legal hurdles in Germany to transporting carbon dioxide to storage sites outside the country . “ Words must be backed up by action ,” Langemann stated . “ Germany should ratify the amended Article 6 of the London Protocol as soon as possible to allow CO2 to be transported to neighbouring countries . On top of that , bilateral agreements must |
be concluded with CO2-receiving countries .” Denmark and Belgium signed an agreement of this kind in October 2022 . Germany could also follow this example to remain competitive as an industrial powerhouse . In Denmark , CO2 will be stored underground for the first time in the coming weeks as part of the Greensand project : a milestone for Europe ’ s climate policies . Wintershall Dea is a partner in the Greensand project , which will see the entire CSS value chain realised across borders to an offshore storage site for the first time on the European continent . More precisely , CO2 from industrial processes in Antwerp is to be transported to Denmark and stored under the seabed about 200 km off the Danish coast . |