Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, announced today that its subsidiary Atomic Alchemy Inc. (“Atomic Alchemy”) has commenced site characterization work at a potential location for a commercial radioisotope production facility in Idaho, at the Idaho National Laboratory (INL).

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Oklo’s Atomic Alchemy Begins Site Characterization Work at Idaho National Laboratory (Image: Oklo)

This milestone builds on Atomic Alchemy’s progress with prior approvals and agreements, including a Memorandum of Understanding secured in 2020 with the U.S. Department of Energy Idaho Operations Office (DOE-ID) to identify a suitable location to site the project at INL, as well as a license in late November that authorized initial site characterization activities.

The site characterization activities include core borings to collect soil and rock samples that will provide essential data on subsurface composition and ensure that the production facility meets stringent safety and building code requirements while supporting the design of a robust structural foundation.

“This milestone reflects the incredible partnership between INL, DOE, and Atomic Alchemy,” said Thomas Eiden, Founder and CEO of Atomic Alchemy. “We’re proud to advance a reliable domestic supply of essential radioisotopes and help restore U.S. leadership in this critical field.” Atomic Alchemy is establishing one of the most advanced radioisotope production sites in the world, positioning the U.S. at the forefront of next-generation nuclear technology.

The world is facing a shortage of many critical radioisotopes. These materials are vital for life-saving diagnostics, targeted cancer therapies, AI chip manufacturing, national security, and advanced R&D. Radioisotopes are expected to represent a $55.7 billion market opportunity by 2026, according to Research Nester, and demand is projected to increase significantly over the next decade.

“Oklo aims to address this growing market demand through reliable, U.S.-based radioisotope production facilities that leverage our nuclear reactor and fuel recycling technologies,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “Through Atomic Alchemy, we aim to execute transformative projects that will expand our capabilities in commercial radioisotope production.”

The site characterization activities for Atomic Alchemy’s radioisotope facility build on the recent DOE approval of site characterization activities for Oklo’s Aurora Powerhouse project in Idaho, underscoring continued momentum in the development of advanced nuclear facilities.

About Idaho National Laboratory

Battelle Energy Alliance manages INL for the U.S. Department of Energy’s Office of Nuclear Energy. INL is the nation’s center for nuclear energy research and development and also performs research in each of DOE’s strategic goal areas: energy, national security, science, and the environment. For more information, visit www.inl.gov.

About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, and affordable energy at scale; establishing a domestic supply chain for critical radioisotopes; and advancing nuclear fuel recycling to convert nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and 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 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.

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,” “can,” “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 development and deployment of Oklo’s powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; risks related to acquisitions, divestitures, or joint ventures we may engage in; the potential need for financing to construct plants; market, financial, political and legal conditions; the effects of competition; risks related to accessing HALEU and recycled fuels; risks related to our supply chain; risks related to power purchase agreements; risks related to human capital; risks related to our intellectual property; risks related to cybersecurity and data privacy; changes in applicable laws or regulations; the outcome of any government and regulatory proceedings and investigations and inquiries; the risk that the acquisition of Atomic Alchemy fails to produce the expected benefits; and those factors in the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission.

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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