Oklo Engaging with U.S. Nuclear Regulatory Commission in Pre-Application Readiness Assessment

SANTA CLARA, Calif.--(BUSINESS WIRE)--Oklo Inc. (NYSE: OKLO) (“Oklo”), an advanced nuclear technology company, is engaging with the U.S. Nuclear Regulatory Commission (NRC) in a Pre-Application Readiness Assessment for its combined license application (COLA) for Oklo’s Aurora Powerhouse at the Idaho National Laboratory. The readiness assessment allows NRC staff to review and familiarize themselves with Oklo’s licensing materials ahead of the full application review so that both sides can prepare for an efficient application review.

The NRC will begin Oklo’s Readiness Assessment in late March 2025. This assessment is designed to specifically address the content of the first phase of Oklo’s COLA submission, which will include information on the siting and environmental portions of the application. By pre-emptively addressing the NRC’s concerns and offering an opportunity to refine submitted information, the readiness assessment helps streamline the formal review process and ensure an efficient path forward.

Oklo has been engaged with the NRC since 2016, proactively working to establish a clear regulatory pathway for its advanced nuclear technology. The company has completed extensive pre-application engagement, including securing an approved quality assurance program description and advancing key licensing areas such as safety analysis, operational programs, environmental considerations, and component classification.

“We continue making progress towards obtaining commercial licenses for next-generation nuclear technologies,” said Jacob DeWitte, co-founder and CEO of Oklo.

As a result of the 2024 ADVANCE Act, the NRC is actively working to modernize the regulatory landscape for advanced nuclear. A key component of this effort is a significant reduction in licensing fees, making regulatory processes more accessible and cost effective for advanced reactor developers. The NRC has proposed cutting the hourly rate for advanced reactor applicants by nearly 55%, with this change set to take effect on October 1, 2025.

Oklo plans to submit a formal COLA later this year, with plans for follow on applications to fulfill its order pipeline of more than 14 GW.

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.

Forward-Looking Statements

This press release includes statements that express Oklo’s opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “can,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning, among other things, the benefits of the proposed acquisition, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties.

As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo’s future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the development and deployment of Oklo’s powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; risks related to acquisitions, divestitures, or joint ventures we may engage in; the potential need for financing to construct plants; market, financial, political and legal conditions; the effects of competition; risks related to accessing HALEU and recycled fuels; risks related to our supply chain; risks related to power purchase agreements; risks related to human capital; risks related to our intellectual property; risks related to cybersecurity and data privacy; changes in applicable laws or regulations; the outcome of any government and regulatory proceedings and investigations and inquiries; the risk that the acquisition of Atomic Alchemy fails to produce the expected benefits; and those factors in the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release and in any document incorporated by reference are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.