Here is a recap of industry happenings over the past month:

ADVANCED REACTOR MARKETPLACE

X-energy enters into agreement to become publicly traded company

X-energy, a developer of small modular reactors and nuclear fuel technology, has entered into a definitive business combination agreement with Ares Acquisition Corporation, a publicly traded special-purpose acquisition company. As a result of the agreement, X-energy will become a publicly traded company, a status that is expected to give a boost to its growth strategy, investment opportunities, and financial flexibility. In addition, X-energy will receive differentiated sponsorship by Ares Management Corporation, which describes itself as a “leading global alternative investment manager.” The existing equity holders of X-energy are expected to hold more than 60 percent of the issued and outstanding shares of the common stock of the combined company. The transaction is expected to be finalized in the second quarter of 2023.

Here is a recap of industry happenings over the past month:

ADVANCED REACTOR MARKETPLACE

U.S. and Canadian regulators formalize relationship on advanced reactors

The U.S. Nuclear Regulatory Commission and the Canadian Nuclear Safety Commission (CNSC) have reached a charter agreement that formally establishes a collaborative relationship on small modular reactors and other advanced reactor technologies. The two agencies have been cooperating on these technologies for several years, but the formal agreement is designed to better harmonize the American and Canadian regulatory processes to achieve safe, successful deployment. The charter specifically focuses on regulatory and safety issues regarding the licensing review of GE--Hitachi’s BWRX--300 SMRs, which Ontario Power Generation (OPG) has selected for deployment at its Darlington site and which the Tennessee Valley Authority (TVA) plans to build at Clinch River. OPG and TVA announced plans earlier this year to work together on the development and deployment these SMRs.