TRISO-X Awarded Tennessee Grant to Support Expansion of Nuclear Fuel Campus

OAK RIDGE, Tenn., July 15, 2026 (GLOBE NEWSWIRE) -- TRISO-X, LLC (“TRISO-X” or the “Company”), a leading manufacturer of advanced nuclear fuels and wholly-owned subsidiary of X-Energy, Inc. (“X-energy”) (NASDAQ: XE), today announced it has received an $11 million economic development grant from the State of Tennessee. The funding will support the continued development of the Company’s fuel fabrication campus in Oak Ridge, Tennessee, including a potential second commercial fuel facility and a dedicated research and development center. The award marks an important milestone in TRISO-X’s efforts to advance U.S. energy security through America’s first commercial-scale advanced nuclear fuel campus.

Funding is awarded through the State of Tennessee’s Nuclear Energy Supply Chain Investment Fund, established by Governor Bill Lee in 2023 to support nuclear investment, workforce development, and site development to expand the State’s nuclear manufacturing ecosystem. The expansion is expected to be built at the Oak Ridge Horizon Center adjacent to TRISO-X's first commercial-scale fuel fabrication facility currently being constructed and developed in partnership with the U.S. Department of Energy.

Together, the three facilities are designed to establish domestic, commercial-scale manufacturing and research capabilities for TRISO-X fuel, the Company’s proprietary tri-structural isotropic ("TRISO") fuel:

• TX-1: Expected to be the first purpose-built commercial TRISO fuel fabrication facility in the United States, currently under construction, and designed to establish domestic production of TRISO-X fuel.
• TX-2: A second, larger fuel fabrication facility anticipated to significantly expand capacity, with enhanced automation and production efficiency based on TX-1 operational experience, expected to create more than 1,000 permanent jobs.
• TX-L: A dedicated fuel fabrication laboratory facility focused on fuel innovation, testing, and continuous improvement of TRISO manufacturing processes.
  

When completed, the campus is expected to establish one of the world’s largest commercial-scale nuclear fuel fabrication campuses, with the capacity to produce enough TRISO-X fuel to support approximately 55 of X-energy’s Xe-100 advanced small modular reactors. That represents nearly 4.5 gigawatts of new advanced nuclear power capacity, or enough to power 3.3 million U.S. households.

Tennessee Governor Bill Lee said, “Oak Ridge represents the frontier of American energy independence and cutting-edge research. We are proud to announce additional jobs and investment from TRISO-X today, bringing more than 1,000 new high-quality job opportunities and strengthening Tennessee’s role as a national leader in advanced energy innovation.”

“This is an important step in building a world-class nuclear fuel campus capable of powering next-generation nuclear,” said Joel Duling, President of TRISO-X. “Oak Ridge stands as a cornerstone of nuclear innovation, and we are proud to carry its legacy forward with the continued support of the State of Tennessee.”

In February 2026, TRISO-X received a 40-year Special Nuclear Material License under 10 CFR Part 70 from the U.S. Nuclear Regulatory Commission, enabling TRISO-X to commercially manufacture fuel using high-assay low-enriched uranium ("HALEU") covering both TX-1 and TX-2 under a single license. TX-1 and TX-2 are the first new fuel facilities licensed by the NRC in over 50 years, with TX-1 set to become the first-ever Category II nuclear fuel facility in the United States. The NRC is expected to authorize commercial-scale TRISO fuel production at the conclusion of construction.

TX-1, TX-2, and TX-L are the product of nearly a decade of fuel development and qualification by X-energy and TRISO-X, beginning in 2016 with a pilot facility at Oak Ridge National Laboratory to optimize established TRISO manufacturing processes for commercial-scale production. In 2025, TRISO-X fuel became the first advanced nuclear fuel form fabricated for commercial use to undergo irradiation testing at Idaho National Laboratory's Advanced Test Reactor, with testing ongoing to qualify TRISO-X fuel for use in the Xe-100 and expand the performance envelope for TRISO fuels. Together with Tennessee's continued support for nuclear manufacturing infrastructure, this technical progress is positioning the United States to reclaim leadership in advanced nuclear fuel production and close a longstanding gap in the domestic fuel cycle.

About X-energy
X-energy is a leading designer of advanced small modular nuclear reactors (“SMR”) and fuel technology developed to establish a new standard in clean, safe, reliable energy. X-energy’s intrinsically safe Xe-100 high-temperature gas-cooled reactor and TRISO-X particle fuel expand applications for nuclear technology, with commercial projects across grid, industrial, and AI. Together, X-energy’s technology drives enhanced safety, lower cost, faster construction timelines, and scalable deployment when compared with other SMRs and conventional nuclear. For more information, visit X-energy.com or connect with us on X or LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements regarding our business. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. You should not rely on our forward-looking statements as predictions of future events. More information about potential risks and uncertainties that could affect our business and financial results is more fully detailed under the caption "Risk Factors" in our Form 10-Q filed with the Securities and Exchange Commission, which is available on our Investor Relations website at https://investors.x-energy.com/ and on the SEC website at www.sec.gov. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.

Contact
Robert McEntyre, Corporate Communications
media@X-energy.com
+1 240.673.6565

Patricia Gil, Investor Relations
investors@X-energy.com
+1 301.558.3040

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