X-energy Announces Planned Retirement of TRISO-X President Joel Duling

ROCKVILLE, Md., Sept. 25, 2026 (GLOBE NEWSWIRE) -- X-Energy, Inc. (Nasdaq: XE) (“X-energy” or “the Company”), a leading developer of advanced nuclear reactors and fuel technology, today announced that Joel Duling will retire from full-time executive leadership as president of TRISO-X, its wholly-owned nuclear fuels subsidiary, effective November 20, 2026. After more than four decades of exemplary leadership across nuclear operations, manufacturing, and program management, including leading TRISO-X through several significant milestones in its commercial development and construction, Duling has decided to step back from day-to-day leadership responsibilities to devote more time to his health, family, and personal priorities.

Duling will remain a part-time employee of X-energy as a senior advisor to Chief Executive Officer J. Clay Sell, supporting the company’s strategic fuel partnerships and fuel supply chain development, as well as the transition to the next president of TRISO-X. Following Duling’s transition, Jason Hatfield, TRISO-X vice president and chief of staff, will assume interim leadership of TRISO-X, while X-energy’s Global Chief Operating Officer Dragan Popovic will continue to provide integration and oversight of the construction of the TX-1 fuel fabrication facility as part of the Advanced Reactor Demonstration Program. The Company is in the process of evaluating internal and external candidates for a permanent successor.

“Joel has been an extraordinary leader whose contributions have established a strong foundation for the future growth of TRISO-X,” said J. Clay Sell, CEO of X-energy. “Under his leadership, TRISO-X has built an exceptional team and established critical building blocks for the development of an unprecedented commercial advanced nuclear fuel supply chain. Out of complete respect for Joel, but with considerable initial reluctance, I have accepted Joel’s decision to devote more of his time to his health, family, and personal priorities, and I am personally grateful that he will continue to play a meaningful role within X-energy as a key strategic advisor.”

Under Duling’s leadership, TRISO-X has achieved several important milestones critical for continued growth. These include advancing construction of the first purpose-built commercial TRISO fuel fabrication facility in the United States, securing the first U.S. Nuclear Regulatory Commission license to commercially manufacture high-assay low-enriched uranium based TRISO fuel, and submitting the first advanced nuclear fuel fabricated for commercial use to enter irradiation testing at Idaho National Laboratory’s Advanced Test Reactor.

“It has been a true honor and a privilege to lead TRISO-X and work alongside such an exceptional team,” added Duling. “I am deeply proud of what this organization has accomplished and the foundation we have established for the future. I look forward to continuing to support this team and our mission through my new role at X-energy, and I have every confidence in the team’s ability to build on the progress we have made.”

TRISO-X continues to advance construction of TX-1, its state-of-the-art advanced nuclear fuel fabrication facility in Oak Ridge, Tennessee, recently marking the completion of vertical construction of the 214,000-square-foot facility. Construction has now moved to the next phase of work, including interior buildout, installation of fuel fabrication equipment, and continued construction of supporting facilities.

About X-energy
X-energy is a leading designer of advanced small modular nuclear reactors (“SMR”) and fuel technology developed to establish a new standard in clean, safe, reliable energy. X-energy’s intrinsically safe Xe-100 high-temperature gas-cooled reactor and TRISO-X particle fuel expand applications for nuclear technology, with commercial projects across grid, industrial, and AI. Together, X-energy’s technology drives enhanced safety, lower cost, faster construction timelines, and scalable deployment when compared with other SMRs and conventional nuclear. For more information, visit X-energy.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which X-energy intends to be covered by the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “will,” “seek,” the negative of these words, or similar terms may identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These include, but are not limited to, statements regarding the expected completion of TX-1; benefits of the Company’s Oak Ridge campus; expectations regarding the achievement of commercial scale manufacturing; ability to achieve a smooth transition; and expected continued success.

You should not rely on these forward-looking statements as predictions of future events. Actual results may differ materially due to a number of factors, including, but not limited to: delays, cost increases, or setbacks in the construction, licensing, or scaling of TX-1 and the Company’s fuel fabrication campus; changes, delays, or inability to obtain and maintain licenses or governmental approvals; supply chain and supplier constraints; risks associated with leadership and management transitions and the search for a permanent successor; and first-of-a-kind risks and the Company’s limited operating experience at intended scale, including latent design or operational issues. More information about potential risks is detailed under “Risk Factors” in X-energy’s Form 10-Q filed with the Securities and Exchange Commission (the “SEC”), and in subsequent SEC filings, available on X-energy’s Investor Relations website at https://investors.x-energy.com/ and on the SEC website at www.sec.gov. Any forward-looking statements herein are based on assumptions believed reasonable as of, and speak only as of, the date of this press release. Except as required by law, X-energy undertakes no obligation to update these statements as a result of new information or future events.

Contact

Robert McEntyre, Corporate Communications
media@x-energy.com
+1 240.673.6565

Patricia Gil, Investor Relations
+1 301.558.3040
investors@x-energy.com