A company planning to build a nuclear power plant in Hartlepool has announced a ground-breaking partnership with Amazon.

X-energy says the deal will help the retail giant meet growing energy demand with a series of carbon-free projects that will use X-energy’s Xe-100 advanced small modular nuclear reactors.

A round of fresh investment worth approximately $500m, and anchored by Amazon, will support X-energy’s drive for a new wave of nuclear technology.

X-energy, which proposes to develop a 12-reactor power plant next to the existing Nuclear Power Station in Hartlepool by the early 2030s, believes the investment is significant in bringing the pioneering technology to market.

The investment will help meet growing energy demands in the US by funding the completion of X-energy’s reactor design and licensing as well as the first phase of its fuel fabrication facility in Tennessee.

Additionally, the funding will support future carbon-free projects that will use X-energy’s Xe-100 advanced small modular nuclear reactors that are being proposed for roll-out across the UK, starting with Hartlepool.

X-energy’s simplified, modular, and intrinsically safe SMR design expands applications and markets for deployment of nuclear technology and drives enhanced safety, lower cost and faster construction timelines.

Citadel Founder and CEO Ken Griffin, affiliates of Ares Management Corporation, NGP, and the University of Michigan join Amazon’s Climate Pledge Fund in the financing round.

As well as pressing ahead with UK plans, X-energy is collaborating with Amazon to work together to bring more than five gigawatts of new power projects online across the US by 2039, the largest commercial deployment target for SMRs to date.

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This collaboration between Amazon and X-energy is a significant step toward accelerating advanced nuclear technologies that can help us bring new sources of carbon-free energy to the grid cost-effectively and safely,” said Kevin Miller, Amazon’s Vice President of Global Data Centers.

“We need smart solutions that can help us meet growing energy demands while also addressing climate change. X-energy’s technology will be integral in helping achieve this, and is an important step in Amazon’s work to achieve our Climate Pledge commitment to be net-zero by 2040.”

Ken Griffin, Founder and CEO of Citadel, whose affiliate is one of the lead investors in this round, said: “Nuclear is an important source of clean and reliable power that our nation needs to meet the growing demand for energy. X-energy provides an impactful solution to a critical challenge – and the support Amazon, Dow, and other major corporations have provided underscores its potential and merit.”

While X-energy CEO J. Clay Sell said: “Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace.

“To fully realise the opportunities available through artificial intelligence, we must bring clean, safe, and reliable electrons onto the grid with proven technologies that can scale and grow with demand.”

Just last week more than 100 representatives from local and national companies met in Hartlepool to hear about the opportunities offered by X-energy’s proposed new build project in the UK.