X-energy and Ares Acquisition mutually terminated a $1.8bn SPAC merger.

X-energy, a developer of commercial nuclear energy reactors, and Ares Acquisition, a special purpose acquisition company, mutually terminated a $1.8bn SPAC merger. “I am deeply proud of the remarkable business that the X-energy team has built, and I am confident in the company’s future as a global clean energy leader. Both X-energy and AAC recognize the challenges presented by the current financial market environment and the opportunity for X-energy to continue forward as a private company. I remain confident in X-energy’s attractive value proposition, and I appreciate the support we have received from AAC and other investors. X-energy is as committed as ever to delivering clean, safe and secure energy solutions that can meet the demand from communities around the world," Kam Ghaffarian, X-energy Founder and Executive Chairman.