X-energy selects Fluor to engineer Cascade nuclear project, second contract between the companies
Key Facts
X-energy announced on November 5, 2026, that it had selected Fluor to provide design and engineering services for the proposed Cascade advanced energy facility near Richland, Washington. The proposed project includes small Xe-100 reactors and is backed by Energy Northwest. The agreement is the second commercial contract between X-energy and Fluor for nuclear island engineering and design services. The announcement defines Fluor’s role in the project, following its work on X-energy’s proposed project in Texas. The assignment is part of a project targeting nuclear power for the region, but it remains in the development and design stages.
Fluor’s scope of work includes engineering, design development, supply chain services, estimating and project controls. These services focus on the section housing the Xe-100 reactors and their supporting systems, known as the nuclear island. Cascade Nuclear Partners, a joint venture between Kiewit Nuclear Solutions, Black & Veatch and Aecom, is responsible for designing and progressively building the conventional portion of the Cascade facility. This division places Fluor’s scope in the nuclear portion, with another entity responsible for the conventional portion and integrating its requirements. Fluor did not disclose the contract value; it said the undisclosed value would be recorded in the third quarter.
Fluor previously worked with X-energy on its proposed Xe-100 project in Texas, as part of the U.S. Department of Energy’s advanced reactor demonstration program. X-energy says the new agreement builds on that work, and that repeating execution and standardizing approaches across the two projects are intended to reduce costs and schedules over the long term. Dragan Popovic, X-energy’s chief global operations officer, described the value of that repetition, saying: "Repeating execution with quality partners like Fluor helps us build that experience in real time." The statement reflects the company’s bet on experience accumulating from one project to the next to improve design, licensing and construction. But reducing costs and timelines remains a stated goal, not an outcome achieved at Cascade.
X-energy describes the Xe-100 as a high-temperature gas-cooled reactor, with an output of 80 megawatts electric per unit and powered by TRISO-X fuel. Plants of this type are designed in modular configurations of four or 12 units. For Cascade, the published design targets a start with four units producing 320 megawatts, with the site licensed for up to 12 units and a total capacity of 960 megawatts upon expansion. The plan allows public power utilities to purchase up to 50% of the full project’s output if it reaches that capacity. X-energy said a similar opportunity for public power utility participation would be available if it decides to proceed with additional units in the future.
Cascade is the first project under X-energy and Amazon’s collaboration, which targets deploying 5 gigawatts of new nuclear power by 2039. X-energy also announced a second project in Indiana with American Electric Power. The company says its commercial project pipeline under development totals 11.5 gigawatts, equivalent to 144 Xe-100 reactors. These figures place the Washington facility within a broader group of projects, while its execution remains subject to each project’s progress and stages. Published plans cover Cascade’s conceptual, preliminary and final design between 2026 and 2029, and long-lead procurement from 2026 to 2029 and beyond.
X-energy set the end of 2026 in its prospectus as the target date for submitting a construction permit application for Cascade to the U.S. Nuclear Regulatory Commission, and expected to receive the permit in 2028 and begin construction shortly afterward. The project targets commercial operations in the early 2030s. The company says its third-quarter financial and operating results will be released before the market opens on November 12, 2026, with the webcast scheduled for 8:00 a.m. Eastern Time. In the latest quarterly results cited in the available materials, revenue and grant revenue totaled $54.6 million in the second quarter of 2026, compared with $21.5 million in the same quarter of 2025, an increase of 154%. Fluor shares closed at $44.98 on November 5, versus $47.61 in the previous session; the announcement of Fluor’s selection was published at 16:30 Eastern Time, after the regular close, so that day’s closing price does not reflect post-announcement trading and does not establish a stock response to it.
X-energy cited risks that could affect Cascade’s execution, including delays in licenses, permits or regulatory approvals, and the need for additional reviews if design changes occur. It also warned of coordination risks among contractors and the possibility that experience from the first project may not transfer to Cascade or deliver the expected cost and time savings. The project’s progress also depends on Energy Northwest’s decision on whether to move to construction or future stages. The company said securing financing and achieving acceptable project economics are factors of uncertainty. Therefore, the licensing, construction and operations dates in its plans remain stated targets tied to completing these stages.