Toyo Tanso’s U.S. subsidiary to supply core structural components for four HTGR units; estimated ¥5–6 billion order with delivery planned for 2028 and revenue recognition across FY2027–FY2028.
Toyo Tanso announced that its U.S. subsidiary, Toyo Tanso USA (TTU), has received an order from X‑energy to supply IG‑110 isotropic graphite core structural components for four Xe‑100 high‑temperature gas‑cooled reactors (HTGRs) planned for Dow’s Seadrift, Texas site. The selected IG‑110 grade is highlighted for its thermal/mechanical performance and resistance to neutron irradiation, with a track record in HTGR applications in Japan, China and France.
HTGR at a glance
The final order value will be determined upon design completion, with the company’s current estimate at approximately ¥5–6 billion (based on ¥145/US$). Prototype production and material qualification are underway, and delivery is planned for 2028. Manufacturing and processing of IG‑110 will begin after final design completion targeted for 2026.
Revenue related to this project will be recognized according to the percentage‑of‑completion method and is expected to be recorded from FY2027 through FY2028. The company notes that this order has already been incorporated into its Medium‑Term Management Plan (2025–2029) announced in February 2025.
Separately, Toyo Tanso has signed an advance payment agreement with X‑energy in preparation for the potential supply of graphite components for four additional Xe‑100 units planned with Energy Northwest in the United States. A formal supply agreement would be announced once confirmed.
Founded in 2009, X‑energy is developing the Xe‑100 SMR, emphasizing intrinsic safety, modular deployment and shorter construction timelines. The Dow Seadrift project is presented as the first advanced nuclear reactor deployment serving an industrial site in North America, supplying power and high‑temperature steam. X‑energy is also progressing a project with Energy Northwest in Washington State (in collaboration with Amazon) and is constructing the first U.S. facility to manufacture TRISO‑X fuel.
Types of nuclear fission reactors, highlighting Toyo Tanso’s focus on high‑temperature gas‑cooled reactors (HTGR/VHTR)
The order underscores IG‑110’s role in next‑generation reactors and provides multi‑year revenue visibility aligned with Toyo Tanso’s plan horizon, while the Energy Northwest pathway signals credible follow‑on demand as advanced nuclear moves into industrial decarbonization.
Source: Toyo Tanso Co., Ltd., “Notice Concerning the Order Received for Graphite Products for High‑Temperature Gas‑Cooled Reactors by Consolidated Subsidiary,” Nov. 7, 2025.
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