Sam Altman-Backed Nuclear Startup Oklo Signs Agreement With Dept. Of Energy For Next Phase Of Siting In Idaho

Sam Altman-backed Nuclear SMR company Oklo announced this morning it had finalized an agreement with the Department of Energy to advance the next phase of sitting at the Idaho National Lab. 

“This key step paves the way for site preparation and construction for Oklo’s powerhouse,” the company wrote on X. 

“This MOA grants Oklo access to conduct site investigations at its preferred site in Idaho, marking a key step toward the next phase of site preparation and construction,” it continued in a press release. 

“As the only advanced fission company with a DOE site use permit, along with substantial regulatory progress and a secured fuel supply, Oklo is uniquely positioned to deploy the first commercial advanced fission power plant in the U.S,” the release says.

“The site investigations enabled by this MOA will focus on geotechnical assessments, environmental surveys, and infrastructure planning.”

Jacob DeWitte, Co-Founder and CEO said: “Our partnership with the DOE has been instrumental. Beginning with the site use permit and fuel award in 2019. Signing this MOA reflects our commitment to timely deployment and operational readiness while also helping to manage costs and maintain our project schedule.”

As we’ve noted this past week, the nuclear energy embrace is starting to make its way across the country. Recall, just hours ago Pennsylvania Governor Josh Shapiro was urging for Three Mile Island to reopen as quickly as possible. 

Following Microsoft’s agreement to purchase power from the dormant nuclear plant, Shapiro urged regulators to prioritize the reactor’s connection to the electrical grid, according to a new report from Barron’s.

In a letter to PJM Interconnection, the grid operator serving Pennsylvania and several other states, Shapiro emphasized that the plant should not face the extended delays typical for new developments, as Microsoft aims to start utilizing the reactor’s energy by 2028.

PJM Interconnection responded to Shapiro’s concerns, stating that it is developing a “fast track” process to prioritize certain electricity projects, potentially speeding up the reactor’s return to service.

Shapiro wants the reactor to “be allowed to come online as quickly as possible rather than waiting in the queue as if they were an entirely new development,” he wrote.

Recall we wrote last week the owner of Three Mile Island is investing $1.6 billion to revive the plant and has agreed to sell all of its output to Microsoft, which is seeking power for its data centers. 

This momentum continues our “Next AI Trade” that we pointed out in April of this year, where we outlined various investment opportunities for powering up America, playing out. Backed by OpenAI’s Sam Altman, Oklo remains one of our favorite names in nuclear.