Wednesday, May 22, 2024

Oklo Signs MOU with Atomic Alchemy to Collaborate on Isotope Production

Oklo Inc., a fast fission clean power technology and nuclear fuel recycling company, is forming a strategic partnership with Atomic Alchemy Inc. 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.

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.

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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.

SOURCE: Businesswire

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