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Home»Economic News»Sam Altman-Backed Nuclear Startup Oklo On Pace To Launch First Reactor By 2027
Economic News

Sam Altman-Backed Nuclear Startup Oklo On Pace To Launch First Reactor By 2027

July 11, 2024No Comments2 Mins Read
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Sam Altman-backed nuclear company Oklo moving towards first small modular reactor by 2027

Oklo, a nuclear company backed by Sam Altman, is making progress towards its goal of building its first small modular reactor by 2027 at the Idaho National Laboratory, according to a recent report from Reuters.

The company specializes in producing nuclear power plants ranging from 15 MWe to 50 MWe, utilizing liquid metal reactor technology. While licensing and fuel supply remain challenges, Oklo has received recognition from the Department of Energy with cost-share awards for advanced recycling technologies. The company has also obtained a site use permit from the DOE and a fuel award from INL, as reported by Reuters.

Oklo co-founder and CEO Jacob DeWitte expressed optimism about the company’s progress, stating, “We’ve tried to design and approach this whole thing in a way that we can get it built as soon as reasonably possible.” He added, “We’re excited about the diversity of customers, because it shows that our size and business model clearly match with what customers are interested in.”

Oklo’s ‘Aurora powerhouse’ reactor is estimated to cost around $70 million for the 15 MW version, with a Levelized Cost of Electricity (LCOE) ranging from $80-$130/MWh, comparable to peaking gas-fired plants and offshore wind.

In addition to its plans for commercial plants, Oklo has partnered with various organizations for different projects, including producing medical isotopes for cancer treatment, supplying power to data center campuses, and powering shale-oil operations.

The company is currently preparing for a pre-application readiness assessment with the Nuclear Regulatory Commission (NRC) to advance its reactor development. Despite previous setbacks, Oklo remains optimistic about its future and the support it will receive from initiatives like the federal ADVANCE Act, which aims to streamline the licensing process and benefit companies like Oklo.

With support from notable investors and a focus on next-generation fast reactor technology, Oklo is poised to make significant contributions to the energy sector. Stay tuned for more updates on this promising venture.

AltmanBacked Launch Nuclear Oklo Pace Reactor Sam Startup
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