X-energy, a developer of small modular reactors and nuclear fuel technology, has entered into a definitive business combination agreement with Ares Acquisition Corporation (AAC). As a result of the agreement, X-energy will become a publicly traded company, a status that is expected to boost its growth strategy, investment opportunities, and financial flexibility. In addition, X-energy will receive differentiated sponsorship by Ares Management Corporation, which describes itself as a “leading global alternative investment manager.” The transaction is expected to be finalized in the second quarter of 2023.