PRESS RELEASE3 MIN READ
IDAHO FALLS, Idaho--(BUSINESS WIRE)-- Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, announced today that its subsidiary Atomic Alchemy Inc. (“Atomic Alchemy”) has commenced site characterization work at a potential location for a commercial radioisotope production facility in Idaho, at the Idaho National Laboratory (INL).
This milestone builds on Atomic Alchemy’s progress with prior approvals and agreements, including a Memorandum of Understanding secured in 2020 with the U.S. Department of Energy Idaho Operations Office (DOE-ID) to identify a suitable location to site the project at INL, as well as a license in late November that authorized initial site characterization activities.
The site characterization activities include core borings to collect soil and rock samples that will provide essential data on subsurface composition and ensure that the production facility meets stringent safety and building code requirements while supporting the design of a robust structural foundation.
“This milestone reflects the incredible partnership between INL, DOE, and Atomic Alchemy,” said Thomas Eiden, Founder and CEO of Atomic Alchemy. “We’re proud to advance a reliable domestic supply of essential radioisotopes and help restore U.S. leadership in this critical field.” Atomic Alchemy is establishing one of the most advanced radioisotope production sites in the world, positioning the U.S. at the forefront of next-generation nuclear technology.
The world is facing a shortage of many critical radioisotopes. These materials are vital for life-saving diagnostics, targeted cancer therapies, AI chip manufacturing, national security, and advanced R&D. Radioisotopes are expected to represent a $55.7 billion market opportunity by 2026, according to Research Nester, and demand is projected to increase significantly over the next decade.
“Oklo aims to address this growing market demand through reliable, U.S.-based radioisotope production facilities that leverage our nuclear reactor and fuel recycling technologies,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “Through Atomic Alchemy, we aim to execute transformative projects that will expand our capabilities in commercial radioisotope production.”
The site characterization activities for Atomic Alchemy’s radioisotope facility build on the recent DOE approval of site characterization activities for Oklo’s Aurora Powerhouse project in Idaho, underscoring continued momentum in the development of advanced nuclear facilities.
About Idaho National Laboratory
Battelle Energy Alliance manages INL for the U.S. Department of Energy’s Office of Nuclear Energy. INL is the nation’s center for nuclear energy research and development and also performs research in each of DOE’s strategic goal areas: energy, national security, science, and the environment. For more information, visit www.inl.gov.
About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, and affordable energy at scale; establishing a domestic supply chain for critical radioisotopes; and advancing nuclear fuel recycling to convert nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and national laboratories.
About Atomic Alchemy Inc.: Atomic Alchemy Inc. is pioneering a resilient U.S.-based radioisotope supply chain to meet essential demands across healthcare, industry, research, and defense. With its proprietary VIPR® technology, Atomic Alchemy is building the first scalable production facility to provide a reliable, sustainable source of high-value radioisotopes. Using a vertically integrated model and fuel recycling, in partnership with Oklo, Atomic Alchemy is transforming isotope production to address global shortages, support critical applications, and strengthen national security.