Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, has signed a letter of intent to acquire Atomic Alchemy Inc., a U.S. firm specializing in radioisotope production. This acquisition would enhance Oklo’s capabilities by integrating Atomic Alchemy’s expertise in radioisotope manufacturing with Oklo’s fast reactor and fuel recycling technology. The collaboration builds on a strategic partnership announced earlier this year, aiming to create valuable coproducts like radioisotopes, expand Oklo’s revenue streams, and accelerate fuel production for its reactors.
Radioisotopes, vital for sectors such as healthcare, energy, and technology, are part of a $55.7 billion global market expected to grow rapidly over the coming decade. With a U.S.-based production facility, Oklo seeks to address supply chain constraints, which have historically relied on aging international infrastructure and limited suppliers.
Jacob DeWitte, Oklo’s CEO, highlighted that this acquisition could help build a resilient radioisotope supply chain in the U.S. by incorporating radioisotope production within Oklo’s recycling process. Atomic Alchemy’s capabilities also include Neutron Transmutation Doping (NTD), a highly sought-after semiconductor doping method that offers uniform, batch processing for advanced semiconductors, meeting high demand in the tech sector.
Sam Altman, Oklo’s Chairman, noted that this acquisition could significantly enhance the role of nuclear technology in critical areas, including energy, medical, and industrial applications.
Key points of the acquisition include:
- Complementary Technologies: Integrating radioisotope production with Oklo’s fuel recycling could accelerate fuel availability for reactors and enhance revenue from high-value radioisotopes.
- Entry into New Markets: Oklo expands into biotech, pharmaceuticals, space, defense, and semiconductors.
- Domestic Production of Radioisotopes: Establishing a U.S.-based radioisotope production capability aims to meet shortages in essential medical and industrial isotopes.
- Diverse Revenue Streams: Oklo expects revenue from radioisotope production even before completing the initial reactors, adding to its income sources.
The acquisition, valued at $25 million in stock (subject to adjustments), is expected to have minimal immediate impact on Oklo’s operational costs and 2024 outlook. This move positions Oklo as a leader in advanced nuclear technology, combining energy production and essential materials to create new value in the nuclear sector.
