Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company,
announced today that Atomic Alchemy Inc. (Atomic Alchemy), which
Oklo has proposed to acquire through an all-stock transaction, has
signed a Memorandum of Understanding (MOU) with Zeno Power Systems,
Inc. (Zeno Power), a leading developer of commercial Radioisotope
Power Systems (RPSs). Zeno Power’s innovative power systems convert
heat from radioisotopes into a reliable and consistent supply of
clean energy for commercial and government customers in critical
environments across space and terrestrial markets.
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Atomic Alchemy's Radioisotope Production
Facility (Image: Hillside Architecture)
This MOU marks a key step in Atomic Alchemy’s strategy to
provide to the growing radioisotope market and expand its impact on
critical missions, including space exploration and national
defense. The MOU also represents an important milestone in
furthering Atomic Alchemy’s efforts to supply radioisotopes for
non-medical applications and its goal to expand its presence in key
markets such as defense and energy. Atomic Alchemy and Zeno Power
expect to explore opportunities that build upon Atomic Alchemy’s
expertise in radioisotope production and recovery.
Through this collaboration, Atomic Alchemy expects to supply
Zeno Power with strontium-90 (Sr-90), americium-241 (Am-241), and
other radioisotopes needed to power RPSs like Radioisotope
Thermoelectric Generators, or “nuclear batteries.” These systems
are designed for remote and off-grid environments, such as space
and undersea applications. These radioisotopes can be produced as
coproducts from Oklo’s recycling processes.
Zeno Power’s novel design enables broad commercial use of RPSs
in space and terrestrially. In late 2023, Zeno Power demonstrated
its first Sr-90 heat source at Pacific Northwest National
Laboratory. To date, Zeno Power has secured over $65 million in
contracts with National Aeronautics and Space Administration
(NASA), the U.S. Navy, and the U.S. Space Force, enabling reliable
clean power solutions for missions ranging from seabed exploration
to lunar operations.
“This collaboration highlights the powerful synergies between
Oklo, Atomic Alchemy, and Zeno Power in advancing nuclear
technologies for the world’s most demanding missions,” said Thomas
Eiden, Founder and CEO of Atomic Alchemy. “We are proud to support
Zeno Power’s efforts by ensuring a dependable supply of critical
radioisotopes.”
“We are thrilled to be working with Atomic Alchemy and Oklo to
advance our fuel supply chain efforts and recover radioisotopes
that otherwise would be waste,” said Harsh S. Desai, Chief
Commercialization Officer at Zeno Power. “This partnership aims to
expand access to critical isotopes, accelerating our work to meet
the growing demand for reliable, persistent energy solutions from
the ocean floor to the lunar surface.”
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.
About Atomic Alchemy Inc.: Atomic Alchemy Inc. is
pioneering a resilient U.S.-based radioisotope supply chain to meet
essential demands across healthcare, industry, research, and
defense. With its proprietary Versatile Isotope Production Reactor
(VIPR®) technology, Atomic Alchemy is building the first scalable
production facility to provide a reliable, sustainable source of
high-value radioisotopes. Using a vertically integrated model and
fuel recycling, in partnership with Oklo, Atomic Alchemy is
transforming isotope production to address global shortages,
support critical applications, and strengthen national
security.
About Zeno Power Systems, Inc.: Zeno Power is a leading
developer of commercial radioisotope power systems (RPSs). The
company, founded in 2018, has offices in Washington, D.C., and
Seattle, WA. Zeno is currently executing on contracts with NASA and
the U.S. Department of Defense, and is on track to deliver its
initial RPSs to customers by 2026. Zeno Power is backed by a
world-class portfolio of investors including Tribe Capital, 1517
Fund, AIN Ventures, Balerion Space Ventures, and DCVC.
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
benefits of the proposed acquisition, 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; the risk that an agreement with Atomic
Alchemy and the proposed acquisition thereof do not materialize or
fail to produce the expected benefits; the risk that the MOU does
not materialize or fails to produce the expected benefits; changes
in applicable laws or regulations; 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/20241121517388/en/
Media and Investor Contact for Oklo: Bonita Chester, Head
of Communications and Media at media@oklo.com
Investor Contact: Sam Doane, Director of Investor
Relations at investors@oklo.com
Media Contact for Zeno Power: Ben Zimmermann, Marketing
and Communications at c-bzimmermann@zenopower.com
Oklo (NYSE:OKLO)
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Oklo (NYSE:OKLO)
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