October 19, 2026 - American Electric Power (AEP) said today it reached an agreement with X-Energy (XE) to jointly evaluate the feasibility of constructing a 960 MW advanced nuclear energy project at a former coal plant site in Sullivan County, Indiana; X-Energy shares up 9.8% pre-market.

If the project reaches a final investment decision and moves forward with construction and commercial operation, the completed facility would connect directly to the grid using X-Energy's (XE) Xe-100 small modular reactor technology.

Amazon (AMZN) has agreed to support the project's development through a funding agreement, and if the project is completed, it said it intends to purchase the power under a long-term contract, covering both the costs of the facility and its operations.

The collaboration combines AEP's (AEP) power generation and nuclear operating expertise, Amazon's (AMZN) commitment to development capital and long-term power purchase, and X-Energy's (XE) advanced nuclear technology, the companies said.

The initial project would include 12 Xe-100 units of 80 MW each, configured in groups of four, for a total of 960 MW.