Oklo Inc. (OKLO) is experiencing a surge in its stock price on Wednesday following the company’s successful finalization of an agreement with the U.S. Department of Energy (DOE). This agreement grants Oklo permission to conduct comprehensive site investigations at its preferred location in Idaho, a crucial step in its journey to deploy the first commercial advanced fission power plant in the United States.
The finalized Memorandum of Agreement (MOA) with the DOE’s Idaho Operations Office provides Oklo with access to its chosen site for thorough inspection. This access allows the company to proceed with crucial preparatory work, including geotechnical assessments, environmental surveys, and infrastructure planning. Oklo’s objective is to construct a clean, reliable, and affordable energy source at scale, utilizing its innovative fast fission technology.
Oklo’s CEO, Jacob DeWitte, highlighted the significance of the partnership with the DOE, emphasizing its instrumental role in the company’s progress since the site use permit and fuel award were granted in 2019. DeWitte stated that the MOA signifies Oklo’s unwavering commitment to timely deployment and operational readiness while simultaneously ensuring cost-effectiveness and maintaining the project schedule.
This recent agreement reinforces Oklo’s long-standing collaboration with the DOE and solidifies its commitment to commercialization plans. By addressing site preparation needs early, Oklo is strategically positioning itself for a seamless transition to the construction phase. Oklo’s vision is to revolutionize energy production with its advanced fission power plants, delivering a clean, reliable, and affordable energy solution that can meet the growing global demand for sustainable power.
