SUNNYVALE, Calif.--(BUSINESS WIRE)--Oklo Inc. (Oklo) announced a $2 million cost-share award from the Department of Energy (DOE) supported by the Technology Commercialization Fund (TCF). Oklo is matching $1 million in funds and is partnering with the DOE and Argonne National Laboratory (ANL) on this public-private partnership. The TCF project will enable the commercialization of advanced fuel recycling capabilities by utilizing electrorefining technology.
“We are proud to be selected to accelerate the commercialization of advanced fuel recycling and development and bring clean power to market quickly and cost-effectively,” said Caroline Cochran, co-founder and COO of Oklo. The electrorefining process helps reduce fuel costs for advanced reactors. Thermal reactors access a fraction of the energy in fuel, while fast reactors coupled with electrorefining can unlock the remaining untapped energy in fuel while reducing the volume and radiological lifetime of the waste material. “When your fuel is millions of times more energy-dense than alternatives, that’s a key enabler to deliver the cheapest forms of clean power available to humanity,” added Cochran. There are tremendous energy reserves in used fuel that can help provide clean power to the world.
The DOE’s commitment to industry partnerships helps propel the commercialization of promising technologies. “The award showcases the DOE’s priority to support the private sector in bringing next-generation fission to market,” said Jacob DeWitte, co-founder and CEO of Oklo. In addition, this public-private partnership will enable commercial opportunities to convert the country’s used fuel into clean energy.
About Oklo Inc.: Oklo is a California-based company developing clean energy plants to provide emission-free, reliable, and affordable energy using advanced fission. Oklo received a Site Use Permit from the U.S Department of Energy, demonstrated fabrication of its fuel, gained access to recovered used fuel from the Idaho National Laboratory, and submitted the first accepted advanced fission license application.