Oklo Announces Board Transition Following Chris Wright’s Confirmation as Secretary of Energy

Rhea-AI Summary

Oklo Inc. (NYSE: OKLO) announced that Board member Chris Wright has stepped down following his confirmation as U.S. Secretary of Energy on February 3, 2025. CEO Jacob DeWitte acknowledged Wright's contributions to the company, particularly highlighting his expertise in energy and technology. The company plans to announce a replacement for Wright's board position in the future.

Positive

• Board member's appointment as U.S. Secretary of Energy potentially strengthens governmental relationships

Negative

• Loss of experienced board member with energy and technology expertise

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Oklo Inc. (NYSE: OKLO) today announced that Chris Wright, a member of its Board of Directors, was confirmed as the U.S. Secretary of Energy on February 3, 2025. As a result, Wright has stepped down from Oklo’s Board to assume this critical role in advancing the nation’s energy policies.

“We congratulate Chris Wright on his confirmation as Secretary of Energy and thank him for his contributions to Oklo,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “His expertise in energy and technology has been instrumental in shaping our vision, and we look forward to his leadership in the Department of Energy. We deeply appreciate his time on the Oklo Board of Directors and his dedication to our mission.”

Announcements related to a replacement for Wright’s board seat will be forthcoming.

About Oklo Inc.: Oklo Inc. is developing advanced nuclear power plants to provide clean, reliable, and affordable energy at scale. Oklo received a site use permit from the U.S. Department of Energy, was awarded fuel material from Idaho National Laboratory, submitted the first advanced nuclear custom combined license application to the U.S. Nuclear Regulatory Commission, and is developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories.

Forward-Looking Statements

This press release includes statements that express Oklo’s opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning, among other things, the timing, goals and benefits of the memorandum of understanding, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties.

As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo’s future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the deployment of Oklo’s powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; the potential need for financing to construct plants, market, financial, political and legal conditions; the effects of competition; changes in applicable laws or regulations; the risk that a binding agreement with RPower does not materialize or fails to produce the expected benefits; and the outcome of any government and regulatory proceedings and investigations and inquiries.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release and in any document incorporated by reference are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250206004616/en/

Media and Investor Contact for Oklo:

Bonita Chester, Head of Communications and Media at media@oklo.com  

Investor Contact:

Sam Doane, Director of Investor Relations at investors@oklo.com

Source: Oklo Inc.

FAQ

When did Chris Wright leave Oklo's Board of Directors?

Chris Wright stepped down from Oklo's Board of Directors on February 3, 2025, following his confirmation as U.S. Secretary of Energy.

What impact does Chris Wright's departure have on Oklo (NYSE: OKLO)?

Wright's departure results in the loss of his energy and technology expertise on the Board, though his position as Energy Secretary could potentially benefit Oklo's relationship with the Department of Energy.

Who will replace Chris Wright on Oklo's Board of Directors?

Oklo has not yet announced a replacement for Chris Wright's board seat but indicated that announcements regarding the replacement will be forthcoming.

What was Chris Wright's role at Oklo (NYSE: OKLO) before becoming Energy Secretary?

Chris Wright served as a member of Oklo's Board of Directors, contributing his expertise in energy and technology to shape the company's vision.