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Nation's first privately funded facility to recycle used nuclear fuel will help reduce costs, create jobs, and establish a durable U.S. fuel supply
Oklo Inc. (NYSE: Oklo) ("Oklo"), an advanced nuclear technology company, today announced plans to design, build, and operate a fuel recycling facility in Tennessee as the first phase of an advanced fuel center through investment totaling up to $1.68 billion and aiming to create more than 800 high-quality jobs. The initial investment will be for the construction of a facility to recycle used nuclear fuel into fuel for fast reactors like Oklo's Aurora powerhouse and will be the first of its kind in the U.S., establishing a clean, reliable energy supply.
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Oklo is also exploring opportunities with the Tennessee Valley Authority (TVA) to recycle the utility's used fuel at the new facility and to evaluate potential power sales from future Oklo powerhouses in the region to TVA. This collaboration would mark the first time a U.S. utility has explored recycling its used fuel into clean electricity using modern electrochemical processes, turning a legacy liability into a resource while creating a secure fuel supply for the future.
"Fuel is the most important factor in bringing advanced nuclear energy to market," said Jacob DeWitte, Oklo co-founder and CEO. "By recycling used fuel at scale, we are turning waste into gigawatts, reducing costs, and establishing a secure U.S. supply chain that will support the deployment of clean, reliable, and affordable power. Tennessee is showing the nation that recycling can be done to support new nuclear development and growth."
The recycling facility will recover usable fuel material from used nuclear fuel and fabricate it into fuel for advanced reactors. This process can reduce waste volumes for more economical, clean, and efficient disposal pathways.
Oklo has completed a licensing project plan for the fuel recycling facility with the U.S. Nuclear Regulatory Commission and is currently in pre-application engagement with the regulator's staff. In July, Oklo successfully completed pre-application readiness assessment for Phase 1 of the combined license application for Oklo's first commercial Aurora powerhouse. The facility in Tennessee is expected to begin producing metal fuel for Aurora powerhouses by the early 2030s, following regulatory review and approvals.
The more than 94,000 metric tons of used nuclear fuel stored at power plant sites around the country contain considerable reserves of recyclable fuel. The energy that can be unlocked from this material via recycling is equivalent to about 1.3 trillion barrels of oil, or five times the reserves of Saudi Arabia.
President Trump's nuclear executive orders this year have set a new course for American energy — modernizing regulation, streamlining reactor testing, deploying reactors for national security, and strengthening the nuclear industrial base. And today in Oak Ridge, we're putting that course into action.
"The next generation of nuclear technologies are being built and developed right here in our own backyard," said TVA President and CEO Don Moul. "Our partnership with Oklo represents yet another step forward in shaping the future of nuclear energy and ensuring a secure energy future for the Valley and beyond."
The fuel recycling facility is the first phase of Oklo's broader advanced fuel center, a multi-facility campus aimed at supporting recycling and fuel fabrication. By locating in Tennessee, Oklo is helping position the state as an epicenter of America's advanced nuclear era, targeting solutions for used fuel while attracting high-skilled jobs and over a billion dollars in private investment.
"Tennessee is well positioned to lead America's energy independence, which is why we created the Nuclear Energy Fund to support and expand our state's nuclear ecosystem. We're proud to partner with Oklo to innovate for the future, while bringing continued opportunity and prosperity to Tennessee families," said Governor Bill Lee.
About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, and affordable energy at scale, establishing a domestic supply chain for critical radioisotopes, and advancing nuclear fuel recycling to convert nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also 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, 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; risks related to the availability of fuel, including high-assay low-enriched uranium ("HALEU"), plutonium, and recycled fuels; 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.
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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
