Centrica PLC

X-Energy is developing the Xe-100, a high-temperature gas-cooled reactor designed to serve both electricity and industrial heat customers, with a four-reactor configuration generating 320 MWe of electricity and each individual reactor producing 80 MWe of electricity or nearly 200 MW of thermal output. Through its partnership with Centrica, the company has identified Hartlepool in the U.K. as a preferred site for a potential Xe-100 fleet, and in September 2026 the two announced the Xe-100 had been accepted into the U.K.'s Generic Design Assessment process, a review expected to take approximately three years involving the Office for Nuclear Regulation, the Environment Agency and Natural Resources Wales. Under the partnership, Centrica and X-Energy intend to deploy up to 6 GW of new nuclear capacity in the U.K., equivalent to roughly 10 to 20 Xe-100 power stations depending on the size of each installation. Together, Dow, Amazon and Centrica underpin a potential pipeline of 144 reactors representing approximately 11.5 GWe, assuming customers exercise their contingent rights in full. The Zacks Consensus Estimate for 2027 earnings per share indicates an increase of 26.87% year over year, while XE trades at a forward 12-month price-to-sales of 12.87X versus an industry average of 4.95X and carries a Zacks Rank #4 (Sell).

X-energy has joined the Prometheus project, a first-of-a-kind research initiative led by Idaho National Laboratory, NVIDIA, and AWS, as a Tier 1 partner to accelerate advanced nuclear deployment using artificial intelligence. The three-year project was awarded $60 million under the U.S. Department of Energy's Genesis Mission and aligns 32 leading laboratories, universities, and private technology developers. X-energy is providing $10 million in private capital and the use of its proprietary Xe-100 small modular reactor and TRISO-X fuel designs as a technical platform for the research campaign. The company expects to leverage advancements from the project to help accelerate commercial deployment across its 11 GW pipeline, which includes projects with Dow, Amazon, and Centrica.

TD Cowen named X-Energy a best smid-cap idea for 2026 on June 23, keeping a Buy rating with a $35 price target. The firm said the stock's pullback after the Q1 report looked overdone and that the Amazon power agreement submittal shift should not affect the project timeline. X-energy reported Q1 revenue of $43.4 million on June 4, missing the $67.87 million consensus. The company also submitted an application to enter the United Kingdom's Generic Design Assessment process for its Xe-100 reactor, marking a milestone in efforts with Centrica to deploy up to 6 gigawatts of new nuclear in the UK.