(Bloomberg) —
Oklo Inc. is planning a $1.68 billion first-of-its-kind facility in Tennessee that will convert nuclear waste into fuel to power the company’s advanced reactors.
The company is planning the first phase, a recycling center, in the eastern city of Oak Ridge, the company said.
The nuclear startup is among a wave of companies developing new reactor technologies that will require a different type of uranium fuel, which is not yet widely available. The recycling center also would help address the vexing issue of what to do with the growing stockpile of nuclear waste. Nuclear power generates about 18% of US electricity and half its clean energy. Demand for nuclear energy is increasing due to the growing need for electricity for factories, more electrified homes, and data centers to power AI.
“Fuel is the single most important factor in bringing advanced nuclear energy to market,” Jacob DeWitte, Oklo’s chief executive officer, said in a statement. “By recycling used nuclear fuel at an industrial scale, we are turning waste into watts, cutting costs, and establishing a secure US supply chain.”
Santa Clara, California-based Oklo is also in talks with Tennessee Valley Authority to recycle waste from the utility’s nuclear plants, and possibly to sell it electricity from its planned Aurora Powerhouse, a fast neutron reactor.
The fuel facility will be the first such privately funded center in the US and still requires approval from the Nuclear Regulatory Commission. It is expected to begin production by the early 2030s.
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