With its safe, advanced nuclear design, growing customer pipeline, and attractive business model, I
believe X-energy is at the forefront of the commercialization and adaptation of advanced nuclear in order to achieve U.S. and global decarbonization, national security, and economic security objectives,
said Mr. Goff. I am honored to join the Board and look forward to working with the team as we build-out clean and stable generation resources to address the global need for clean energy.
As previously announced, X-energy has entered into a definitive business combination agreement with Ares
Acquisition Corporation (NYSE: AAC) (AAC), a publicly-traded special purpose acquisition company. Upon the closing of the transaction, the combined company will be named X-Energy, Inc. and its
common equity securities and warrants are expected to be listed on the New York Stock Exchange.
Completion of the transaction is subject to approval by
AACs shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions.
About X-Energy Reactor Company, LLC
X-Energy Reactor Company, LLC, is a leading
developer of advanced small modular nuclear reactors and fuel technology for clean energy generation that is redefining the nuclear energy industry through its development of safer and more efficient reactors and proprietary fuel to deliver
reliable, zero-carbon and affordable energy to people around the world. X-energys simplified, modular, and intrinsically safe SMR design expands applications and
markets for deployment of nuclear technology and drives enhanced safety, lower cost and faster construction timelines when compared with conventional nuclear. For more information, visit X-energy.com or
connect with us on Twitter or LinkedIn.
About Ares Acquisition Corporation
AAC is a special purpose acquisition company (SPAC) affiliated with Ares Management Corporation, formed for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar business combination. AAC is seeking to pursue an initial business combination target in any industry or sector in North America, Europe or Asia. For more information about AAC, please
Additional Information and Where to Find It
In connection with the business combination (the Business Combination) with X-energy, AAC filed a
registration statement on Form S-4 on January 25, 2023, as amended by Amendment No. 1 thereto, filed on March 24, 2023, Amendment No. 2 thereto, filed on June 12, 2023, Amendment
No. 3 thereto, filed on July 3, 2023 and Amendment No. 4 thereto, filed on July 25, 2023 (the Registration Statement) with the SEC, which includes a preliminary proxy statement/prospectus to be distributed to
holders of AACs ordinary shares in connection with AACs solicitation of proxies for the vote by AACs shareholders with respect to the Business Combination and other matters as described in the Registration Statement, as well as a
prospectus relating to the offer of securities to be issued to X-energy equity holders in connection with the Business Combination. After the Registration Statement has been declared effective, AAC will mail a
copy of the definitive proxy statement/prospectus, when available, to its shareholders. The Registration Statement includes information regarding the persons who may, under the SEC rules, be deemed participants in the solicitation of proxies to
AACs shareholders in connection with the Business Combination. AAC will also file other documents