NASA

IX (Intuitive Machines + X-Energy)

🇺🇸Houston, TX (Intuitive Machines parent HQ), United StatesLunar surface nuclear power

Verified 2026-06-12· IX (joint venture between Intuitive Machines and X-Energy)

Founded

2022

Overview

Joint venture formed in 2022 by Intuitive Machines (NASDAQ: LUNR) and X-Energy specifically to bid on NASA/DOE Fission Surface Power Phase 1. Extended team includes Boeing and the former Maxar Space Systems — now Lanteris Space Systems, which parent Intuitive Machines acquired outright for $800M on January 13, 2026. Sole purpose: lunar surface power systems development.

Moat: X-Energy brings TRISO fuel heritage (one of the few non-LEU US fuel forms with active reactor licensing under way). Intuitive Machines brings lunar surface mission integration experience from CLPS. Boeing + Maxar add space-systems heritage.

Business

Primary customers

Government: NASA / DOE (Fission Surface Power)

Sectors

Space microreactors · Lunar surface power

Gallery

NASA and U.S. Department of Energy officials at the January 2026 signing of a memorandum of understanding committing to a lunar surface fission reactor by 2030 — the procurement IX competes within (event photo). — Image: The Jan 2026 NASA–DOE lunar-reactor MOU (the programme IX is in) — NASA

NASA conceptual illustration of fission surface power on the Moon, published with the June 2022 announcement of the three FSP concept awards (IX, Lockheed Martin, Westinghouse). — Image: The June 2022 FSP concept — when IX was selected — NASA

NASA illustration of a fission power system on the surface of Mars — NASA's stated follow-on for a Moon-proven reactor design. — Image: The Mars follow-on for fission surface power (NASA render) — NASA

Key Products

Fission Surface Power Phase 1 design (IX team)development
40 kW class lunar surface reactor concept under the $5M NASA/DOE Phase 1 contract. Leverages X-Energy's TRISO fuel for inherent safety.

Investor Resources

Primary-source documents — straight from IX (Intuitive Machines + X-Energy)'s investor relations and SEC filings.

Investor Presentations

Near-term Catalysts

2025-2026
FSP Phase 2 down-select
Winner-take-most outcome among IX, Lockheed Martin, and Westinghouse.

Top Risks

IX is a single-purpose JV — losing FSP Phase 2 would essentially dissolve the venture.
Joint-venture structures historically have alignment challenges as parents pursue independent commercial paths.
Intuitive Machines parent (LUNR) is publicly traded but doesn't directly reflect IX results.

Recent Milestones

2022-06-21
Formed JV; awarded $5M NASA/DOE FSP Phase 1 contract
2024
NASA extends Phase 1 work pending Phase 2 solicitation
2026-01-13
Parent Intuitive Machines closes $800M acquisition of Lanteris Space Systems (formerly Maxar Space Systems) — bringing extended-team spacecraft capabilities in-house (combined revenue >$850M, backlog $920M at close)

From Management

Recent interviews and talks from IX (Intuitive Machines + X-Energy)'s leadership — hear the strategy in their own words.

Steve Altemus · President & CEO, Intuitive Machines (JV lead parent)Intuitive Machines-led team awarded $5M for lunar Fission Surface PowerIntuitive Machines · Jun 21, 2022 J. Clay Sell · CEO, X-Energy (JV reactor partner)On X-Energy's role in the lunar fission-power JVX-Energy · Jun 21, 2022

What investors should know

Q1Is IX a separately tradeable entity?⌄

No. IX is a joint venture between Intuitive Machines (NASDAQ: LUNR) and X-Energy (private). There is no separate IX equity. Public-market exposure to IX outcomes comes through LUNR stock.

Q2How does IX compare to Westinghouse and Lockheed Martin?⌄

All three Phase 1 teams have $5M concept-design awards. Lockheed Martin brings deep space-systems integration (BWXT + Creare as partners). Westinghouse brings the largest terrestrial reactor manufacturing scale. IX brings TRISO fuel + lunar mission heritage. NASA's Phase 2 down-select will weigh design maturity, safety case, and integration risk.

Q3What's TRISO fuel and why does it matter?⌄

Tri-structural isotropic (TRISO) fuel encapsulates each fissile particle in multiple layers of carbon/ceramic, making meltdown essentially impossible by design. It's regarded as one of the safest reactor fuel forms. X-Energy is the leading US TRISO commercializer.

Q4What happens if NASA picks IX for Phase 2?⌄

IX would build an actual flight reactor for lunar surface demonstration in the early 2030s. The contract value at Phase 2 has not been publicly disclosed but will be substantially larger than the $5M Phase 1 award — likely hundreds of millions of dollars over the life of the programme.

Q5What's Boeing's role?⌄

Boeing is on the extended IX team for systems integration. Boeing's contribution is supportive rather than prime — building on Boeing's broader space-systems portfolio (SLS Core Stage, satellites, etc.).

Peers

🇺🇸Intuitive Machines

~$4.5B

Compare side-by-side →

Sources & References

Press Release

Intuitive Machines — Completes Acquisition of Lanteris Space Systems (Jan 13, 2026) · 2026-01-13

Trade Press

ExecutiveGov — NASA plans for FSP Phase 2 · 2024(archived)
NucNet — NASA extends FSP Phase 1 · 2024(archived)

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