- Oklo and Atomic Alchemy are forming a strategic partnership to
produce radioisotopes from Oklo’s recycling process and through
fast reactor production of isotopes.
- The partnership will aim to increase the production of
industrial and medical isotopes vital for cancer treatment,
diagnostic imaging, and clean energy technologies.
- This U.S.-based partnership would help establish a reliable
domestic supply, help meet the current and anticipated demand for
isotopes, and aim to address gaps in the supply chains.
Oklo Inc. (NYSE: OKLO) (“Oklo” or the “Company”), a fast fission
clean power technology and nuclear fuel recycling company, is
forming a strategic partnership with Atomic Alchemy Inc. (“Atomic
Alchemy”) to produce isotopes. This partnership will aim to combine
Oklo’s work to build and operate fast reactors and fuel recycling
expertise with Atomic Alchemy’s expertise in isotope production to
meet increasing demands for isotopes. Isotopes are vital for many
promising medical, energy, industry, and science applications.
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Oklo Inc. (Image: Gensler)
Oklo is uniquely positioned to drive the nuclear industry
forward, including complementary applications like radioisotopes,
given its strong balance sheet with over $300 million of cash on
hand following its recently completed business combination with
AltC Acquisition Corp. Oklo will utilize its robust funding
position to execute on the strong customer interest in its Aurora
powerhouse offering to meet the rapidly expanding electric power
needs of the artificial intelligence, data center, energy, defense,
and industrial markets, among others. The successful deployment of
Aurora powerhouses to customer sites not only provides Oklo with
consistent, recurring revenue but also enables exciting new
business opportunities in fuel recycling and radioisotopes
production, which is supported by the partnership with Atomic
Alchemy.
“Industrial and medical isotopes are indispensable to many
sectors of the economy, from treating diseases like cancer to
fueling clean energy technologies like radioisotope thermoelectric
generators, fission power plants, and even fusion research. The
domestic and global demands for these crucial elements are growing
at an accelerated pace,” said Jacob DeWitte, co-founder and CEO of
Oklo. “Our partnership with Atomic Alchemy will enable us to
diversify our product offerings with radioisotopes produced from
our fuel recycling process,” added DeWitte.
Sam Altman, Chairman of Oklo, added, “This partnership is an
example of some of the promising aspects of Oklo's recycling plans,
with large potential benefits to a number of industries.”
“The world is facing a shortage of vital isotopes. We are
witnessing many promising cancer therapies stuck in clinical
trials, unable to secure sufficient quantities of isotopes in a
timely manner. I’m proud to be partnering with Oklo to help expand
our domestic supplies of isotopes and tritium,” said Founder and
CEO of Atomic Alchemy, Thomas Eiden. Atomic Alchemy is advancing
its mission through the construction of a scalable, fully
vertically integrated radioisotope production facility.
The strategic partnership between Oklo and Atomic Alchemy can
help address the gaps in our domestic supplies of isotopes and
tritium, helping reduce dependence on foreign suppliers.
As a new public company, the Oklo founders and management team
are excited to build long-term value for the benefit of all our
shareholders, new and existing, via execution of our core mission
and advancement of unique partnerships like Atomic Alchemy. Oklo’s
robust capital resources, differentiated owner-operator model, and
accelerating customer demand position the company stronger than
ever to deliver clean, reliable, affordable energy on a global
scale through the design and deployment of next-generation fast
reactor technology.
Oklo is honored to have the support and long-term commitment
from proven industry leaders with deep operational, technical, and
financial expertise, as well as strong networks across important
end-markets to Oklo, including Sam Altman, our venture capital
early backers, Michael Klein and Churchill Capital, as well as our
newly appointed board of directors.
About Oklo Inc.: Oklo 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
timing, goals and benefits of the partnership, 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240513678894/en/
Media and Investor Contact for Oklo: Bonita Chester,
Director of Communications and Media at media@oklo.com and
investors@oklo.com
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