Oklo Secures Partnerships for Up to 750 Megawatts of Power
for U.S. Data Centers
11/13/2024
SANTA CLARA, Calif.–(BUSINESS WIRE)– 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.
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.
Media and Investor Contact for Oklo:
Bonita Chester, Head of Communications and Media at
[email protected]
Investor Contact:
Sam Doane, Director of Investor Relations at
[email protected]: Oklo Inc.