Regulation, Sourcing Renewables - August 11, 2022
Dow Signs LOI to Advance Emissions Reduction
Dow, a materials science company, and X-energy, a nuclear energy innovation company, announced they have signed a letter of intent (LOI) for a project that will Dow advance its carbon emissions reduction goals through the development and deployment of X-energy's advanced small modular nuclear technology in the U.S.
Dow and X-energy will collaborate with the intent to deploy X-energy's Xe-100 high-temperature gas reactor technology at one of Dow's U.S. Gulf Coast sites – which is expected to be operational by approximately 2030. The Xe-100 reactor plant would provide cost-competitive, carbon-free process heat and power to the Dow facility. Dow also intends to take a minority equity stake in X-energy, working with the company to deploy small modular nuclear technology.
"Advanced small modular nuclear technology is going to be a critical tool for Dow's path to zero-carbon emissions and our ability to drive growth by delivering low-carbon products to our customers," said Jim Fitterling, Dow chairman and CEO in a statement. "X-energy's technology is among the most advanced, and when deployed will deliver safe, reliable, low-carbon power and steam.."