SMR Investment Pays Off... DL E&C's Stake in US X-Energy Jumps Sixfold

X-Energy Listed on NASDAQ on April 24
DL E&C’s Stake Value Reaches 172 Billion Won

DL E&C announced on April 29 that the value of its stake in X-Energy has surged nearly sixfold in three years, following X-Energy's listing on the NASDAQ in the United States on April 24.

As of April 28 (local time), the value of DL E&C's shareholding in X-Energy amounts to approximately 172 billion won, according to the company on April 29. Since its Series C investment in January 2023, the value has soared nearly six times from 20 million dollars (about 3 billion won) over three years.

Dinka Batia, Chief Commercial Officer (CCO) of X-Energy (fifth from left), and Paek Jong-sik, Deputy Head of the Plant Business Division at DL E&C (sixth from left), are posing for a photo to celebrate the signing of the SMR standard design contract. Provided by DL E&C

The value of DL E&C's stake has risen significantly as SMRs (Small Modular Reactors) have emerged as essential power infrastructure in the age of artificial intelligence, leading to a rise in share prices. On its first day of listing, April 24, X-Energy closed at 29.20 dollars, up 27% from the IPO price, and within three trading days, the price climbed nearly 50% to 34.11 dollars as of April 28. Through this IPO, X-Energy raised more than 1 billion dollars (approximately 1.475 trillion won), marking the largest fundraising in the history of nuclear power company listings.

X-Energy is a fourth-generation SMR developer supported by the U.S. Department of Energy (DOE). Unlike conventional nuclear plants that use water to cool reactors, X-Energy owns high-temperature gas-cooled reactor (HTGR) technology, which is cooled with high-temperature helium gas. Notably, X-Energy has partnered with global giants such as Amazon, Dow, and Centrica, securing a pipeline of 11 GW (gigawatts), which has directly contributed to the rise in its share price.

DL E&C has been a key investor since the Series C stage and continues to maintain a cooperative relationship with X-Energy. X-Energy is currently developing SMRs with the goal of commencing commercial operation in the early 2030s, with DL E&C responsible for the standard design. Last month, the two companies signed a standard design contract for SMRs worth 10 million dollars. DL E&C plans to leverage its design technology and construction expertise accumulated in the plant sector to accelerate the standardization and modularization of SMRs.

Yoo Jaeho, Head of the Plant Business Division at DL E&C, said, "As X-Energy is recognized for its high value in the market, we expect a virtuous cycle in which DL E&C’s stake value also rises. Based on our experience in large-scale nuclear power plant construction, we will expand investments related to SMRs and build unrivaled global competitiveness."

This content was produced with the assistance of AI translation services.