Oklo Signs Deal WIth European Nuclear Developer

<p><span class&equals;"bw-dateline-wrapper"><strong>SANTA CLARA<&sol;strong> &&num;8212&semi; <&sol;span>Oklo Inc&period;&comma; an advanced nuclear technology company&comma; and newcleo&comma; a European developer of advanced nuclear reactors&comma; have announced a joint agreement to develop advanced fuel fabrication and manufacturing infrastructure in the United States&period; Newcleo plans to invest up to &dollar;2 billion via a newcleo-affiliated investment vehicle&period; Blykalla&comma; Sweden&&num;8217&semi;s advanced nuclear technology developer&comma; is also considering co-investing in the same projects&comma; and procuring fuel related services from the projects&period;<&sol;p>&NewLine;<p>The investments aim to span multiple projects under U&period;S&period; oversight&comma; foster transatlantic cooperation that enhances energy security&comma; and focus on creating a robust and resilient fuel ecosystem&period; Specific projects and investment amounts will be detailed in forthcoming definitive agreements&period;<&sol;p>&NewLine;<p>The partnership strengthens all parties&&num;8217&semi; abilities to supply the growing global demand for energy&period; This effort includes co-investment into&comma; and co-location of&comma; fuel fabrication facilities and could include repurposing surplus plutonium in a manner consistent with established U&period;S&period; safety and security requirements&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Fissioning surplus plutonium is the best way to eliminate a legacy liability while creating an abundant near-term fuel source&period; It can accelerate the deployment of multiple gigawatts of advanced reactors and serve as a bridge fuel until uranium enrichment and recycling scale up&comma;” said Jacob DeWitte&comma; co-founder and CEO of Oklo&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;This strategic partnership proves that energy independence relies on advanced fuels and promotes an integrated closed-loop fuel cycle&period; newcleo and its partners are ready to add value to the transatlantic cooperation in providing clean&comma; safe and secure energy&period; The agreement proves that the U&period;S&period; and Europe can lead in this sector&comma;” said Stefano Buono&comma; founder and CEO of newcleo&period;<&sol;p>&NewLine;<p>By channeling large-scale transatlantic investments into the American advanced nuclear industry&comma; the partnership exemplifies newcleo’s and Blykalla’s interest in the U&period;S&period; market and supports the domestic expansion of Oklo’s fuel and fast-reactor technologies&period; Partnerships like this show how allied collaboration can strengthen energy innovation&comma; leadership&comma; and dominance in the United States&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;This agreement to implement newcleo&&num;8217&semi;s advanced fuel expertise into Oklo&&num;8217&semi;s powerhouses and invest &dollar;2 billion into American infrastructure and advanced fuel solutions is yet another win for President Donald J&period; Trump&&num;8217&semi;s American Energy Dominance Agenda&comma;” said Secretary of the Interior and Chairman of the National Energy Dominance Council Doug Burgum&period; &OpenCurlyDoubleQuote;This administration is committed to enhancing energy security&comma; creating more American jobs&comma; and ensuring that the United States remains at the forefront of global energy production and innovation&comma; and I&&num;8217&semi;m honored to support today&&num;8217&semi;s announcement to advance these goals&period;”<&sol;p>&NewLine;<p>The partnership aligns private capital with federal priorities to accelerate advanced nuclear deployment while bolstering U&period;S&period; energy security and transatlantic cooperation and strengthening the domestic fuel supply&period;<&sol;p>&NewLine;