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Oklo Inc. (Symbol: OKLO) is at the forefront of developing advanced fission power plants designed to deliver clean, reliable, and affordable energy on a large scale. The company is actively pursuing two key strategies to meet the rising demand for sustainable energy solutions: providing commercial-scale energy directly to customers and offering used nuclear fuel recycling services within the U.S. market.
The company's flagship project, the Aurora powerhouse product line, features liquid metal fast reactor technology. The first commercial Aurora powerhouse aims to produce up to 15 megawatts of electricity (MWe) utilizing both recycled nuclear fuel and fresh fuel. This pioneering approach underscores Oklo's commitment to innovation and environmental stewardship.
In a significant recent development, Oklo Inc. has entered into a new Memorandum of Understanding (MOU) with Centrus Energy Corp. (NYSE American: LEU) to enhance the deployment of advanced fission powerhouses and nuclear fuel production in Southern Ohio. This collaboration, which builds on a partnership established in 2021, aims to make the region a pivotal hub for the U.S. nuclear industry’s future. Centrus will supply High-Assay, Low-Enriched Uranium (HALEU) produced at its Piketon, Ohio facility, further solidifying this strategic alliance.
Oklo has secured numerous achievements, including a site use permit from the U.S. Department of Energy (DOE) and a fuel award from Idaho National Laboratory for its initial commercial plant in Idaho. Additionally, Oklo collaborates with the Southern Ohio Diversification Initiative at the DOE Piketon Site for its subsequent projects.
The company is also advancing its liquid metal fast reactor technology and plans to commercialize it through the Aurora powerhouse series. These reactors are designed to be scalable, making them suitable for various industries. Oklo's unique business model focuses on selling power rather than power plants, aligning with its mission to provide scalable, clean energy solutions.
In terms of financial health, Oklo has announced a definitive business combination agreement with AltC Acquisition Corp. (NYSE: ALCC), which upon closing, will result in the combined company being listed on the New York Stock Exchange under the ticker symbol “OKLO.”
For Centrus Energy, this partnership is also a strategic move to establish a domestic HALEU supply chain, crucial for the advancement of carbon-free nuclear energy. Centrus is constructing the first U.S. HALEU production facility, licensed by the U.S. Nuclear Regulatory Commission, and expects to start production by the end of 2023.
Oklo's initiatives are part of a broader strategy to meet the growing demand for clean energy while establishing a sustainable and reliable nuclear fuel supply infrastructure. This is bolstered by strong support from industry leaders, bipartisan backing in Congress, and the administration's investment in advanced nuclear technologies.
Oklo Inc. continues to make strides in the nuclear energy sector, positioning itself as a key player in the transition to clean, reliable, and affordable energy solutions.
Oklo (NYSE: OKLO) and Switch have signed a non-binding Master Power Agreement for 12 gigawatts of advanced nuclear power deployment through 2044, marking one of the largest corporate clean power agreements in history. Under the agreement, Oklo will develop, construct, and operate Aurora powerhouses to provide power to Switch's AI, cloud, and enterprise data centers across the United States.
The partnership aims to support Switch's growing data center infrastructure while maintaining their commitment to 100% renewable energy usage. The agreement establishes a framework for collaboration, with binding agreements to be finalized as project milestones are reached. This long-term partnership will help accelerate Oklo's early powerhouse deployments and demonstrate sustained customer demand.
Atomic Alchemy, Oklo's proposed acquisition target, has signed an MOU with Zeno Power Systems to supply radioisotopes for commercial Radioisotope Power Systems (RPSs). The collaboration focuses on providing strontium-90 and americium-241 for 'nuclear batteries' used in remote and off-grid environments. Zeno Power has secured over $65 million in contracts with NASA, U.S. Navy, and U.S. Space Force. These radioisotopes can be produced as coproducts from Oklo's recycling processes, supporting missions from seabed exploration to lunar operations.
Oklo (NYSE: OKLO), an advanced fission power technology and nuclear fuel recycling company, has released its financial results and business update for Q3 2024, ending September 30. The company has published a shareholder letter and updated investor presentation on their website. A conference call is scheduled for November 14th, 2024, at 1:30 PM PT / 4:30 PM ET, featuring CEO Jacob DeWitte and CFO Craig Bealmear. The webcast will be accessible through the company's investor relations website and archived for 12 months.
Oklo (NYSE: OKLO) has secured partnerships with two major data center providers to deliver up to 750 megawatts (MW) of low carbon power across the U.S. These agreements expand Oklo's customer pipeline to approximately 2,100 MW. The company will deploy its Aurora powerhouse design, offering flexible 15 MW and 50 MW units that can be installed in phases. The partnership includes one of the fastest-growing data center companies and supports Oklo's expansion in Idaho, Ohio, Texas, and Wyoming. Oklo will build, own, and operate the powerhouses, generating revenue through power sales while helping customers reduce grid dependence.
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.
Oklo (NYSE: OKLO), an advanced fission power technology and nuclear fuel recycling company, will release its Q3 2024 financial results after market close on November 14, 2024. A conference call will follow at 4:30 PM ET. Jacob DeWitte, CEO, and Craig Bealmear, CFO, will host the call. Shareholders can submit questions until November 13 at 4:30 PM ET. The company will provide access to the webcast, investor presentation, shareholder letter, and financial results through their website.
Oklo Inc. (NYSE: OKLO) has announced that the U.S. Department of Energy (DOE) has approved the Conceptual Safety Design Report (CSDR) for the Aurora Fuel Fabrication Facility at Idaho National Laboratory (INL). This approval is a key milestone for Oklo as it progresses towards utilizing recovered nuclear material to fuel its first commercial Aurora powerhouse.
The Aurora Fuel Fabrication Facility will fabricate fuel for Oklo's Aurora power plant at INL, using high assay low enriched uranium recovered from used Experimental Breeder Reactor-II fuel. This approval is a critical step in Oklo's journey to deploy its first commercial plant using recovered nuclear fuel.
The CSDR approval is part of the DOE's comprehensive review process, with subsequent steps including the Preliminary Documented Safety Analysis before construction and the Documented Safety Analysis after construction and commissioning.
Oklo Inc. (NYSE: OKLO) has finalized a Memorandum of Agreement (MOA) with the U.S. Department of Energy (DOE) Idaho Operations Office, marking a significant step towards deploying the first commercial advanced fission power plant in the U.S. The MOA grants Oklo access to conduct site investigations at its preferred location in Idaho, focusing on geotechnical assessments, environmental surveys, and infrastructure planning.
As the only advanced fission company with a DOE site use permit, substantial regulatory progress, and a secured fuel supply, Oklo is well-positioned for this next phase. The agreement builds on Oklo's collaboration with the DOE, which began in 2019 with a site use permit and fuel award. CEO Jacob DeWitte emphasized that this MOA reflects the company's commitment to timely deployment and operational readiness while managing costs and maintaining project schedules.
Oklo Inc. (NYSE: OKLO), a fast fission clean power technology and nuclear fuel recycling company, has released its earnings and business update for the second quarter ending June 30, 2024. The company has also posted a shareholder letter and an updated investor presentation on its website. Oklo will host a conference call on August 13th, 2024, at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time, featuring CEO Jacob DeWitte and CFO Craig Bealmear. Investors can access the webcast through the Events & Presentations section of Oklo's investor relations website, with an archive available for 12 months after the event.
Oklo Inc. (NYSE: OKLO), a fast fission clean power technology and nuclear fuel recycling company, has signed a Preferred Supplier Agreement with Siemens Energy for the power conversion system of its Aurora powerhouse. This binding agreement, following a previous Memorandum of Understanding, aims to enhance production scalability, cost efficiency, and rapid deployment to meet growing customer demand.
Siemens Energy will supply power conversion and supporting systems, fostering efficiencies through economies of scale. Standardizing equipment across Oklo's powerhouses is expected to result in cost savings in manufacturing, construction, operations, and maintenance. Oklo's fast fission technology uses liquid metal as a coolant, allowing for high-temperature operation without pressurization and enabling the use of commonly available alloys from existing supply chains.
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