X-energy Expands in Maryland, Creating Hundreds of New Jobs

Strategic Insights -

Governor Wes Moore announced today that X-energy, an advanced nuclear reactor and fuel company, is reinvesting in its Maryland workforce with expansions in two counties. The company is consolidating its headquarters to a 125,000 square-foot facility in Gaithersburg, retaining its 260 full-time employees and planning to create at least 525 new jobs over the next six years. X-energy is also opening an integrated test and training facility in Frederick, which will host non-nuclear testing and prototyping of critical reactor components, as well as provide training for reactor operators and maintenance technicians.

Key Takeaways:

  • X-energy is expanding its headquarters to a 125,000 square-foot facility in Gaithersburg, where it will retain its 260 full-time employees and create at least 525 new jobs over the next six years.
  • The company is opening an integrated test and training facility in Frederick, which will host non-nuclear testing and prototyping of critical reactor components and provide training for reactor operators and maintenance technicians.
  • X-energy has partnered with major megaproject developers and hyperscalers to deliver clean, reliable energy at scale, with its first commercial Xe-100 plant being developed in partnership with the Dow Chemical Company on the Texas Gulf Coast.
  • The company has also partnered with Amazon and Energy Northwest on a second Xe-100 project in Washington state, with a commitment to deploying up to five gigawatts of new nuclear capacity by 2039.
  • The Maryland Department of Commerce is working to approve two conditional loans totaling $2.35 million through Advantage Maryland to assist with project costs.
  • X-energy is also eligible for other state and local tax credits, including up to $500,000 through Montgomery County's Job Creation Fund Program and up to $150,000 through its MOVE Grant Program.
  • Montgomery County Executive Mark Elrich quoted, "This expansion is a win for our residents, bringing hundreds of good-paying jobs and strengthening our position as a center for innovation in clean energy and advanced technology."
  • Frederick County Executive Jessica Fitzwater stated, "This significant investment strengthens our tech sector and brings valuable job opportunities to our community."
  • X-energy Chief Executive Officer J. Clay Sell said, "We look forward to working with Governor Moore and his team to build on the state's long history of nuclear innovation by making Maryland a national leader in next-generation nuclear technology."

Statistics:

  • The new facility in Gaithersburg is a 125,000 square-foot facility.
  • X-energy plans to create at least 525 new jobs over the next six years.
  • The company has a partnership with the Dow Chemical Company on the Texas Gulf Coast.
  • X-energy has partnered with Amazon and Energy Northwest on a second Xe-100 project in Washington state.
  • The company is committing to deploying up to five gigawatts of new nuclear capacity by 2039.
  • The Maryland Department of Commerce is working to approve two conditional loans totaling $2.35 million.
  • X-energy is eligible for up to $500,000 through Montgomery County's Job Creation Fund Program and up to $150,000 through its MOVE Grant Program.

Sources:

  • [X-energy Press Release, "X-energy Expands in Maryland, Creating Hundreds of New Jobs", Governor's Office of Maryland]
  • [X-energy Website, "About Us", accessed 2023-02-22]
  • [X-energy Website, "Projects", accessed 2023-02-22]
  • [Maryland Department of Commerce, "Advantage Maryland", accessed 2023-02-22]
  • [Montgomery County Website, "Job Creation Fund Program", accessed 2023-02-22]
  • [Montgomery County Website, "MOVE Grant Program", accessed 2023-02-22]