SANTA CLARA, Calif.–(BUSINESS WIRE)–February 8, 2022–
Oklo Inc. and Argonne National Laboratory (Argonne) have signed an agreement to formalize the two parties’ commitment to commercialize advanced fuel recycling technology. The partnership is the result of a cost-shared project awarded by the U.S. Department of Energy’s (DOE) Technology Commercialization Fund (TCF), authorized by the Energy Policy Act of 2005. The TCF is a nearly $30 million funding opportunity that leverages R&D funding in applied energy programs to mature promising energy technologies with high impact potential.
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Oklo Aurora Generating Station (Image: Gensler)
The project involves working with electrorefining technology to recycle fuel for use in advanced fission power plants. Oklo matches DOE funding for the commercialization of electrorefining technology, which will help reduce fuel costs for advanced fission, while reducing supply chain risk.
“This partnership with Argonne will help reduce fuel costs for advanced reactors, and therefore overall energy costs from advanced fission,” said Jacob DeWitte, co-founder and CEO of Oklo. “There are huge energy reserves in spent fuel that can provide emission-free power to entire nations for centuries while reducing the volume and radiological lifetime of the waste,” DeWitte added.
By working together under this agreement, Oklo and Argonne can accelerate the deployment of emission-free energy to market in a cost-effective manner, aided by advanced fuel recycling capabilities.
About Oklo Inc.: Oklo Inc. (Oklo) is a California-based company that develops advanced fission power plants to provide emission-free, reliable and affordable energy. Oklo received a U.S. Department of Energy Site Use Permitwith success demonstrated prototype fabrication of its metal fuelreceived fuel material from the Idaho National Laboratory and developed the first advanced fission combined license applicationwhich has been accepted and registered by the United States Nuclear Regulatory Commission.
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY SECURITY UTILITIES PUBLIC POLICY/GOVERNMENT SOFTWARE ALTERNATIVE ENERGY ENERGY NUCLEAR MATERIALS OTHER POLICY ISSUES
SOURCE: Oklo Inc.
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PUBLISHED: 02/08/2022 10:33 AM/DISC: 02/08/2022 10:33 AM
http://www.businesswire.com/news/home/20220208005693/en
Copyright BusinessWire 2022.