tXENERGY

Tokenised Economic Right (not equity) to potential future liquidity from WLTH’s (Metamasters DAO Corp) allocation in X-Energy. Slices are not securities of, nor endorsed by, the underlying company. They are unsecured contractual rights against WLTH (Metamasters DAO Corp). Residents of the U.S., UK, EU, and other restricted jurisdictions are ineligible. Review the full Terms & Conditions before purchasing.

  • Category: Nuclear energy

  • Stage: Pre-IPO

  • Opportunity Type: Tokenised Economic Right

Company Overview

X-energy is a U.S.-based developer of advanced small modular reactors (SMRs) and TRISO nuclear fuel. Founded in 2009 , the company focuses on high-temperature gas-cooled reactor technology, centred on its flagship Xe-100 system. X-energy operates multiple sites in Rockville MD, Oak Ridge TN, Toronto, and the UK . The company generates revenue and is backed by a global investor base including Amazon, Ontario Teachers’, Ares Management, Alumni Ventures, and the U.S. Department of Energy .

The Problem

Global decarbonisation requires baseload, zero-carbon energy sources capable of replacing coal and gas. Existing nuclear infrastructure suffers from high capex, long build timelines, safety concerns, and inflexibility. Industrial heat applications remain underserved, and renewable intermittency creates reliability gaps that cannot be solved exclusively by batteries or solar/wind.

The Solution

X-energy’s Xe-100 is an HTGR SMR designed to deliver 80 MWe or 200 MWth depending on configuration . It uses TRISO fuel, regarded as one of the safest and most robust fuel forms in the world. The reactor’s modular design enables faster construction, lower capex, higher safety margins, and deployment into industrial facilities, chemical plants, and micro-grids. The technology is engineered for passive safety and simplified operation, directly addressing the economic and regulatory bottlenecks of conventional nuclear.

Founding Team

Founder: Dr. Kamal Ghaffarian, PhD, also founder of IBX and co-founder of Axiom Space. CEO: J. Clay Sell JD, former Deputy U.S. Secretary of Energy and long-time sector operator.

The company’s executive bench includes senior leaders across engineering, nuclear safety, corporate strategy, supply chain, and operations, spanning more than 15 C-suite and VP-level roles.

Business Model

X-energy operates a multi-layered revenue model:

  1. SMR Reactor Sales: Monetisation of Xe-100 units to utilities, industrials, and sovereign partners.

  2. TRISO-X Fuel Fabrication: Supply of proprietary TRISO fuel to deployed reactors. The Series C1 funding explicitly supports the first phase of its Oak Ridge TRISO-X facility.

  3. Engineering + EPC Partnerships: Revenue from engineering services, licensing, and design agreements.

  4. Government Contracts & Grants: Over $1.2B in U.S. DOE grant funding since 2020 .

Traction and Validation

  • $1.16B total capital raised to date.

  • $779.13M Series C1 round led by global tier-one institutions.

  • 81 percent probability of successful VC exit, according to PitchBook’s Exit Predictor.

  • Dow, Amazon, the U.S. Department of Defense, and Centrica have signed joint development or deployment agreements (public info).

  • Xe-100 selected for U.S. Department of Defense microreactor advancement program (publicly reported, DoD announcement 2025).

  • Fuel fabrication facility contracted with Clark Construction for a $48.2M phase build .

Intellectual Property and Strategic Assets

X-energy holds:

  • 56 active patents and 35 pending

  • 103 total patent filings historically

  • Patent activity concentrated in: nuclear physics, reactor design, TRISO fuel manufacturing, furnaces, CVD coating processes

  • Highly cited patents in nuclear fuel pebble manufacturing with up to 15 forward citations each

  • Ownership of TRISO-X fuel intellectual property

  • Strategic partnership footprint across DoD, DOE, Centrica, Dow, and Amazon

Disclaimer

No affiliation — nominative reference only.

The underlying company is entirely unaffiliated with this offering, with Metamasters DAO Corp, and with the associated Slices. Specifically:

  1. No endorsement or authorisation. The underlying company has not reviewed, approved, authorised, endorsed, sponsored, or consented to any aspect of this token, marketing material, or structure.

  2. No participation or cooperation. The underlying company and its officers, directors, shareholders, and employees are not involved—directly or indirectly—in structuring, issuing, marketing, managing, servicing, or redeeming the Slices.

  3. No contractual or economic relationship. Purchasing a Slice does not give you any equity, debt, contractual claim, option, warrant, or other right against the underlying company. Your sole counter-party is WLTH.

  4. No obligations on the underlying company. It owes you no fiduciary duty, payment, or disclosure and will have no liability to you in connection with your purchase.

  5. No effect on the underlying company’s securities. Issuing Slices does not affect its capitalisation, shareholder base, voting power, or governance.

  6. Trademark usage. Any mention of the underlying company’s name is strictly nominative. WLTH claims no ownership and implies no sponsorship.

Information limitations. All company-related data herein are drawn from public sources WLTH believes to be reliable.

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