Renderings of U.S. commercial advanced fission power plant in Oklo
Provided by Oklo
nuclear boot OK Aims to deploy 12 GW of power over the next two decades through framework agreements with data center operators changethis company announced Wednesday.
Oklo will deploy the equivalent of a fleet of small nuclear reactors by 2044, generating electricity equivalent to the annual electricity consumption of more than 9 million U.S. homes
Oklo will develop, build and operate small nuclear power plants. It will sell power to Switch through multiple power purchase agreements for its data center in Oklo, U.S., and Switch has not signed any separate power purchase agreement.
Oklo shares were last up about 1% after surging earlier in the morning.
Oklo CEO Jacob DeWitte said in an interview with CNBC that the broad agreement signed by Oklo and Switch is a non-binding framework that sets high-level goals to be implemented. It creates a tool to advance large-scale, multi-site power development and deployment, DeWitt said.
Oklo is a new startup Backed by OpenAI CEO Sam Altman developing micro nuclear reactor. Altman is chairman of Oklo, which Available in May Through the merger with its SPAC, AltC Acquisition Corp. Oklo’s market capitalization reached $2.33 billion.
‘Transformative scale’
Switch is a privately held company headquartered in Las Vegas that designs, builds and operates data center campuses in the United States. of nuclear power.
Oklo is developing reactors that are much smaller than the current U.S. fleet. Its reactors are expected to have power ranges of 15 MW, 50 MW, 100 MW or more. By comparison, the current average reactor capacity in the United States is about 1,000 megawatts.
DeWitte said the reactors serving Switch will primarily be 50 megawatts. Oklo will have to build 240 reactors of the same size by 2044 to reach its deployment target of 12 gigawatts.
Oklo believes its microreactors will reduce the costs associated with building new nuclear power plants, shorten construction times and provide more flexible options for power customers.
Oklo has not yet deployed the reactor. The company aims to open its first factory at the Idaho National Laboratory in Idaho Falls in 2027.
insiders told Reuters In September, Switch is considering an initial public offering that would value the company at $40 billion. Switch has been privatized digital bridge and IFM Investors invested $11 billion December 2022.
U.S. demand for nuclear power is growing as technology companies and other data center developers seek reliable, carbon-free electricity to power artificial intelligence.
Amazon and letter declare invest exist Small nuclear reactor technology October. Microsoft is helping build the Three Mile Island nuclear power plant Back online through a power purchase agreement.
