Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, announced today that it has selected Kiewit Nuclear Solutions Co. as the lead constructor for its first commercial Aurora powerhouse in Idaho, at Idaho National Laboratory (INL).

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Oklo's preferred site for its first Aurora powerhouse in Idaho (Image: Idaho National Laboratory)

Under a newly executed Master Services Agreement, Kiewit Nuclear Solutions Co. (Kiewit), a subsidiary of Kiewit Corporation, one of North America’s largest construction and engineering organizations, will begin to support the design, procurement, and construction of the Aurora-INL, with pre-construction expected to begin in 2025 and commercial operations targeted for late 2027 to early 2028. The Aurora-INL represents a major milestone in Oklo’s near-term commercialization strategy to deliver clean, reliable, and affordable energy using proven, advanced nuclear technology.

Oklo selected Kiewit through a competitive process that evaluated both technical capabilities and construction expertise. Because a significant portion of the Aurora powerhouse’s construction scope is non-nuclear, Oklo can leverage Kiewit’s extensive experience in delivering large-scale industrial and infrastructure projects. This approach is designed to accelerate delivery timelines, reduce costs, and uphold standards of safety and quality, underscoring Oklo’s commitment to the efficient, pragmatic deployment of advanced nuclear technology.

“We’ve completed key pre-construction milestones, including site characterization work in Idaho, in partnership with the U.S. Department of Energy and Idaho National Laboratory,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “Kiewit brings the execution strength and project delivery experience that are essential as we move into this next phase. This is a critical step in helping us build efficiently and deliver clean energy on a meaningful timeline. Advanced reactors will largely be able to be constructed differently than legacy plants, and a key pathway to realizing the economic benefits associated with that is to modernize how we design, procure, and build these plants.”

Oklo is uniquely positioned to deploy advanced nuclear technology in the near term, with a U.S. Department of Energy-approved site, secured fuel, and demonstrated regulatory progress that support its ability to advance toward commercial operation.

“We’re excited to support Oklo in delivering one of the nation’s first commercial advanced nuclear projects,” said Mike Rinehart, president of Kiewit Nuclear Solutions Co. “As a leading design engineering, procurement, and construction partner with decades of experience in complex energy infrastructure, Kiewit is well positioned to help bring Oklo’s innovative vision to life. This partnership reflects our shared commitment to advancing clean energy solutions through disciplined execution, safety, and delivery certainty.”

The Aurora-INL is a key part of Oklo’s broader deployment pipeline, which includes agreements to supply over 14 GW of clean energy to commercial customers and U.S. government partners.

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 Kiewit: Kiewit is one of North America’s largest and most respected construction and engineering organizations. With its roots dating back to 1884, the employee-owned organization operates through a network of subsidiaries in the United States, Canada, Mexico and Guam. Kiewit offers construction and engineering services in a variety of markets including power; transportation; water; oil, gas and chemical; marine; building; industrial and mining. Kiewit had 2024 revenues of $16.8 billion and employs 31,800 staff and craft employees.

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 DOE’s Voucher Program, 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 the DOE’s Voucher Program 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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