Nuclear

Oklo secures up to 750 MW-worth of new data center partnerships

These commitments expand Oklo’s customer pipeline to approximately 2,100 MW, almost all for data centers.
Oklo secures up to 750 MW-worth of new data center partnerships
Oklo Aurora powerhouse (Image: Gensler)

Oklo, a fission power and nuclear fuel recycling company, announced it has received letters of intent (LOIs) and is partnering with two major data center providers to deliver up to 750 megawatts (MW) of power for data centers across the U.S.

These commitments expand Oklo’s customer pipeline to approximately 2,100 MW.

Under these LOIs, Oklo will work with “one of the fastest-growing data center companies,” otherwise unnamed, to deploy its powerhouses in select markets. Oklo said this collaboration supports its expanding footprint, including its announced sites in Idaho, Ohio, Texas, and Wyoming.

Oklo’s Aurora powerhouse design provides power directly on-site or nearby, with 15 MW and 50 MW units that can be deployed in phases. This approach aims to minimize project risks and reduce financing costs.

“The strong customer response reflects confidence in Oklo’s clean, reliable, and affordable power solutions,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “Our approach helps enable customers to scale sustainably with reliable power aligned to their long-term goals.”

This summer, Oklo announced it had non-binding letters of intent for about 1,350 MW of microreactor capacity, a 93% increase from its 700 MW project pipeline in July 2023. Of the 650 MW announced during the second quarter of this year, 600 MW were for data center projects. Earlier this year, Oklo signed a pre-agreement with data center colocation company Equinix to provide up to 500 MW of nuclear power. The company has signed an LOI with Wyoming Hyperscale to deliver 100 MW through its data centers.

Another notable agreement could result in Oklo providing 50 MW of power to oil & gas company Diamondback Energy in the Permian Basin in Texas.

The company is working to convert these LOIs into power purchase agreements toward the end of this year and beginning of next, the company said in recent filings to the SEC.

Oklo is developing next-generation nuclear power plants called “powerhouses.”

The company’s Aurora powerhouse design is a fast neutron reactor that would transport heat from the reactor core to a power conversion system and is designed to run on material from used nuclear fuel known as HALEU, or “high assay, low-enriched uranium.” The reactor builds on the Experimental Breeder Reactor-II and space reactor legacy.

Oklo’s first Aurora powerhouse is targeted for deployment in 2027 at the Idaho National Laboratory (INL). Oklo obtained a site use permit from the U.S. Department of Energy (DOE) for the INL site in 2019. The company applied with the U.S. Nuclear Regulatory Commission (NRC) in March 2020 to build and operate the INL reactor. This was the first combined license application ever accepted by the NRC for an advanced non-light water reactor.

The company plans to build its second and third plants in southern Ohio, on land owned by the Southern Ohio Diversification Initiative (SODI). Earlier this year, Oklo entered into land agreements with SODI, which built on the companies’ initial agreement from May 2023.