X-Energy, a nuclear technology company with backing from Amazon, has completed an initial public offering that raised $1.02 billion, according to multiple reports.

The IPO represents a significant milestone for the nuclear energy sector, which has seen renewed investor interest amid growing demand for clean energy sources. X-Energy develops small modular reactors and nuclear fuel technology.

Amazon's involvement in the company reflects the tech giant's broader push into clean energy initiatives as it works to meet carbon neutrality goals. The company has been investing in various renewable and nuclear energy projects to power its expanding data center operations.

The successful fundraising comes as nuclear power is experiencing a resurgence, with governments and corporations seeking reliable low-carbon energy sources. Small modular reactors, which X-Energy specializes in, are seen as potentially safer and more flexible alternatives to traditional large-scale nuclear plants.

The funds raised through the IPO are expected to support X-Energy's continued development of its reactor technology and fuel production capabilities. The company's technology aims to provide scalable nuclear power solutions for various applications.