Oklo Finalizes Agreement with the Department of Energy to Advance to the Next Phase of Siting
September 25 2024 - 8:40AM
Business Wire
Oklo Inc. (NYSE: OKLO) (“Oklo”), a fast fission clean power
technology and nuclear fuel recycling company, today announced the
finalization of a Memorandum of Agreement (MOA) with the U.S.
Department of Energy (DOE) Idaho Operations Office. This MOA grants
Oklo access to conduct site investigations at its preferred site in
Idaho, marking a key step toward the next phase of site preparation
and construction.
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Landscape view of Oklo's preferred site
in Idaho (Image: Idaho National Laboratory)
As the only advanced fission company with a DOE site use permit,
along with substantial regulatory progress and a secured fuel
supply, Oklo is uniquely positioned to deploy the first commercial
advanced fission power plant in the U.S. The site investigations
enabled by this MOA will focus on geotechnical assessments,
environmental surveys, and infrastructure planning.
“Our partnership with the DOE has been instrumental. Beginning
with the site use permit and fuel award in 2019,” said Jacob
DeWitte, Co-Founder and CEO of Oklo. “Signing this MOA reflects our
commitment to timely deployment and operational readiness while
also helping to manage costs and maintain our project
schedule.”
The MOA builds on Oklo’s longstanding collaboration with the DOE
and reinforces its commitment to efficiently moving toward its
commercialization plans. By addressing critical site preparation
tasks early, Oklo is working towards a streamlined transition to
construction and aims to keep the project on track for timely
completion.
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
timing, goals and benefits of the MOA and the project thereunder,
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 the MOA 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240925465865/en/
Media Contact: Bonita Chester, Head of Communications and
Media at media@oklo.com
Investor Contact: Sam Doane, Director of Investor
Relations at investors@oklo.com
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