Oklo Inc. (“Oklo”), an advanced fission technology and nuclear fuel recycling company, is pleased to announce the signing of an Option and Right of First Refusal to Purchase Real Estate (the “land rights agreement”) with the non-profit Southern Ohio Diversification Initiative (“SODI”) for land including options for the siting of two powerhouses.
This agreement is an extension of Oklo and SODI’s announcement in May 2023, related to the deployment of two powerhouses and signifies progress toward siting development and implementation.
The procurement of land at SODI is a major next step for deployment of the two announced powerhouses, playing a key role in making the region a critical hub for the future of the U.S. nuclear industry.
Subject to the terms and conditions of the land rights agreement and in exchange for an upfront fee, which will be credited toward any purchase by Oklo under the land rights agreement, SODI has granted Oklo an option and right of first refusal to purchase land in Southern Ohio from SODI.
SODI is a nonprofit community improvement corporation and serves as the DOE-designated community reuse organization for the former Portsmouth Gaseous Diffusion Plant (“PORTS”) facility near Piketon, Ohio. SODI’s mission is to improve the quality of life for citizens of Jackson, Pike, Ross and Scioto Counties through economic diversification and the development of underutilized land and facilities on the PORTS facility site. Upon completion of the remediation of land at PORTS, the DOE allocates the revitalized land to SODI for use in economic development. By collaborating with SODI, Oklo reinforces its dedication to local community engagement, economic development, and environmental stewardship.
“We see incredible potential in the Piketon region, both in its talent and infrastructure, and we deeply value partnering with SODI and collaborating with the local community,” said Jacob DeWitte, Oklo’s co-founder and CEO. “We are also greatly appreciative to the efforts of the DOE Office of Environmental Management in making these public-private partnerships possible.”
“Oklo’s land purchase agreement further brings into focus the potential for transformative impact the redevelopment of this site can have on our energy infrastructure and the reinvigoration of our community,” said Steven Shepherd, Executive Director of SODI. “We appreciate our strong partnership with Oklo and look forward to continuing to work with them to bring more jobs and economic opportunity to the region.”
The collaboration between Oklo and SODI, enabled by the DOE’s efforts, derives from the prospective power of public-private partnerships in driving forward the next generation of energy solutions. This agreement marks a significant step forward in Oklo’s commitment to deploying clean, reliable, and affordable energy solutions.
About Oklo Inc.: Oklo is developing fast fission power plants to provide clean, reliable, and affordable energy at scale. Oklo received a site use permit from the U.S. Department of Energy, was awarded fuel material from Idaho National Laboratory, submitted the first advanced fission custom combined license application to the Nuclear Regulatory Commission, and is developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories.
On July 11, 2023, Oklo and AltC Acquisition Corp. (“AltC”) (NYSE: ALCC) announced that they have entered into a definitive business combination agreement that upon closing would result in the combined company to be listed on the New York Stock Exchange under the ticker symbol “OKLO.”
About AltC Acquisition Corp.: AltC Acquisition Corp. was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.
Source link: https://www.businesswire.com/
