SANTA CLARA, Calif.--(BUSINESS WIRE)--Nov 13, 2024--
Oklo Inc. (NYSE: OKLO) ("Oklo"), an advanced fission power and nuclear fuel recycling company, has received Letters of Intent (LOIs) and is partnering with two major data center providers to deliver up to 750 megawatts (MW) of low carbon power for data centers across the U.S. These commitments expand Oklo’s customer pipeline to approximately 2,100 MW, underscoring the demand for Oklo’s dedicated clean energy solutions.
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Under these LOIs, Oklo will work with one of the fastest-growing data center companies to deploy its powerhouses in select markets, addressing the provider’s critical need for sustainable, reliable power. This collaboration supports Oklo’s expanding footprint, including its announced sites in Idaho, Ohio, Texas, and Wyoming, reinforcing the company’s commitment to advancing clean, resilient power options nationwide.
Oklo’s Aurora powerhouse design provides power directly on-site or nearby, with flexible 15 MW and 50 MW units that can be deployed in phases. This approach aims to minimize project risks, reduce financing costs, and deliver efficient, resilient energy to meet the evolving needs of industrial and commercial clients.
“The strong customer response reflects confidence in Oklo’s clean, reliable, and affordable power solutions,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “Our approach helps enable customers to scale sustainably with reliable power aligned to their long-term goals.” By building, owning, and operating each powerhouse, Oklo makes it easier for customers to adopt nuclear power generation while creating a steady revenue stream for Oklo by selling power, not power plants.
Oklo’s deployment model helps industries reduce reliance on traditional grids, preserving grid stability and potentially avoiding additional costs to local ratepayers. With a growing order book, we believe Oklo is positioned to transform critical infrastructure and support sustainable growth.
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 U.S. 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 LOIs, 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 binding agreements with the two major data center providers do not materialize or fail 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.
Oklo Aurora powerhouse (Image: Gensler)
