Oklo Completes Environmental Compliance Process to Begin Site Characterization for its Commercial Powerhouse in Idaho

Rhea-AI Summary

Oklo (NYSE: OKLO) has completed the environmental compliance process with the U.S. Department of Energy (DOE) and Idaho National Laboratory (INL) for site characterization of its first commercial advanced fission power plant site at INL. The company received an Environmental Compliance Permit, following a recent Memorandum of Agreement with DOE and approval of its Conceptual Safety Design Report for the Aurora Fuel Fabrication Facility. Oklo's business model focuses on selling power directly to customers across data centers, industrial processes, defense, and off-grid communities.

Positive

• Obtained Environmental Compliance Permit for site characterization
• Received DOE approval for Aurora Fuel Fabrication Facility's Conceptual Safety Design Report
• Secured Memorandum of Agreement with DOE
• Positioned as first-mover in commercial advanced fission power plant deployment

Negative

• None.

Insights

Nuclear Energy Analyst

This environmental compliance milestone significantly advances Oklo's commercialization strategy. The approval enables site characterization at INL, a important step toward building their first commercial advanced fission plant. The company's recent string of regulatory achievements - including the MOA with DOE and approval of their Conceptual Safety Design Report - demonstrates meaningful progress in their licensing pathway. Their innovative business model of direct power sales, coupled with plans for an integrated fuel recycling facility, positions them uniquely in the advanced nuclear market. The ability to begin site work represents tangible progress toward revenue generation, though significant technical and regulatory hurdles remain before plant construction and operation can commence.

The environmental compliance process completion is particularly noteworthy as it addresses one of the key regulatory requirements for nuclear facility siting. This systematic approach to development helps de-risk the project while maintaining momentum toward commercialization.

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Oklo Inc. (NYSE: OKLO) ("Oklo"), an advanced fission power and nuclear fuel recycling company, announced today that the U.S. Department of Energy (DOE) and the Idaho National Laboratory (INL) have completed the environmental compliance process addressing the DOE requirements for site characterization at Oklo’s first commercial advanced fission power plant site at INL.

Landscape view of Oklo's preferred site in Idaho (Image: Oklo Inc.)

This process, resulting in an Environmental Compliance Permit, marks a significant milestone as Oklo advances its plans to deliver the first commercial advanced fission power plant in the United States. This announcement follows the recent finalization of a Memorandum of Agreement with the DOE, which initiates site characterization activities. It also comes on the heels of the DOE approval of Oklo’s Conceptual Safety Design Report for its Aurora Fuel Fabrication Facility, which will recycle nuclear material at INL to fuel the Aurora powerhouse.

“These approvals represent pivotal steps forward as we advance toward deploying the first commercial advanced fission plant,” said Jacob DeWitte, CEO and Co-Founder of Oklo. “With this process complete, we can begin site characterization. Our unique business model of selling power directly to customers rather than power plants, combined with our early mover advantage, positions us to respond to a growing order book effectively and meet diverse energy needs across data centers, industrial processes, defense, and off-grid communities."

About Oklo Inc.: Oklo Inc. is developing fast fission 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 fission custom combined license application to the 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 benefits of the completion of the environmental compliance process, 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; 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/20241107639913/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

What environmental approval did Oklo (NYSE: OKLO) receive in 2024?

Oklo received an Environmental Compliance Permit from the DOE and INL for site characterization at its first commercial advanced fission power plant site in Idaho.

Where will Oklo's first commercial advanced fission power plant be located?

Oklo's first commercial advanced fission power plant will be located at the Idaho National Laboratory (INL).

What markets will Oklo's power generation serve?

Oklo plans to serve diverse energy needs across data centers, industrial processes, defense, and off-grid communities.

What is unique about Oklo's business model?

Oklo's business model involves selling power directly to customers rather than selling power plants.