Oklo Completes Environmental Compliance Process to Begin Site Characterization for its Commercial Powerhouse in Idaho

SANTA CLARA, Calif.--(BUSINESS WIRE)--Nov 7, 2024--

Oklo Inc. (NYSE: OKLO) ("Oklo"), an advanced fission power and nuclear fuel recycling company, announced today that the U.S. Department of Energy (DOE) and the Idaho National Laboratory (INL) have completed the environmental compliance process addressing the DOE requirements for site characterization at Oklo’s first commercial advanced fission power plant site at INL.

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This process, resulting in an Environmental Compliance Permit, marks a significant milestone as Oklo advances its plans to deliver the first commercial advanced fission power plant in the United States. This announcement follows the recent finalization of a Memorandum of Agreement with the DOE, which initiates site characterization activities. It also comes on the heels of the DOE approval of Oklo’s Conceptual Safety Design Report for its Aurora Fuel Fabrication Facility, which will recycle nuclear material at INL to fuel the Aurora powerhouse.

“These approvals represent pivotal steps forward as we advance toward deploying the first commercial advanced fission plant,” said Jacob DeWitte, CEO and Co-Founder of Oklo. “With this process complete, we can begin site characterization. Our unique business model of selling power directly to customers rather than power plants, combined with our early mover advantage, positions us to respond to a growing order book effectively and meet diverse energy needs across data centers, industrial processes, defense, and off-grid communities."

About Oklo Inc.: Oklo Inc. is developing fast fission power plants to provide clean, reliable, and affordable energy at scale. Oklo received a site use permit from the U.S. Department of Energy, was awarded fuel material from Idaho National Laboratory, submitted the first advanced fission custom combined license application to the Nuclear Regulatory Commission, and is developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. 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,” “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 completion of the environmental compliance process, 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 deployment of Oklo’s powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; the potential need for financing to construct plants, market, financial, political and legal conditions; the effects of competition; changes in applicable laws or regulations; and the outcome of any government and regulatory proceedings and investigations and inquiries.

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.

Landscape view of Oklo's preferred site in Idaho (Image: Oklo Inc.)

JERUSALEM (AP) — Israel’s parliament passed a law early Thursday that would allow it to deport family members of Palestinian attackers, including the country’s own citizens, to the war-ravaged Gaza Strip or other locations.

The law, which was championed by members of Prime Minister Benjamin Netanyahu's Likud party and his far-right allies, passed with a 61-41 vote. But legal experts said that any attempt to implement it would likely lead to it being struck down by Israeli courts.

It would apply to Palestinian citizens of Israel and residents of annexed east Jerusalem who knew about their family members' attacks beforehand or who “express support or identification with the act of terrorism.”

They would be deported, either to the Gaza Strip or another location, for a period of seven to 20 years. The Israel-Hamas war is still raging in Gaza, where tens of thousands have been killed and most of the population has been internally displaced, often multiple times.

It was unclear if it would apply in the occupied West Bank, where Israel already has a long-standing policy of demolishing the family homes of attackers. Palestinians have carried out scores of stabbing, shooting and car-ramming attacks against Israelis in recent years.

Oded Feller, a legal adviser to the Association for Civil Rights in Israel, dismissed the law as “populist nonsense.” He said it was unlikely to be applied, because there is no legal way for the Interior Ministry to send an Israeli citizen to another country or to Gaza.

His organization doesn't plan to challenge the law unless authorities try to enforce it, in which case he expects any court challenge to succeed.

Eran Shamir-Borer, a senior researcher at the Israel Democracy Institute and a former international law expert for the Israeli military, agreed that the law was likely to be struck down by the Supreme Court.

He said that if a resident of east Jerusalem was deported under the law, it could be seen by many in the international community as a violation of the Fourth Geneva Convention, because they view the area as occupied territory, although Israel doesn't.

The deportation of an Israeli citizen could be seen not only as a violation of their constitutional rights under Israeli law, but also as a breach of their human rights under international law, he said. The law could also be seen as a form of collective punishment and as discriminatory, because it appears to only apply to Arab citizens and residents, and not to family members of Jews convicted under terrorism laws.

“The bottom line is this is completely nonconstitutional and a clear conflict to Israel’s core values,” Shamir-Borer said.

Israel captured Gaza, the West Bank and east Jerusalem in the 1967 Middle East war — territories the Palestinians want for their future state. It withdrew settlers and soldiers from Gaza in 2005, but has reoccupied parts of the territory since Hamas' attack on Oct. 7, 2023 triggered the war.

Israel annexed east Jerusalem in a move not recognized by most of the international community. Palestinians there have permanent residency and are allowed to apply for citizenship, but most choose not to, and those who do face a series of obstacles.

Palestinians living in Israel make up around 20% of the country's population. They have citizenship and the right to vote but face widespread discrimination. Many also have close family ties to those in the territories and most sympathize with the Palestinian cause.

Melanie Lidman reported from Tel Aviv, Israel. Tia Goldenberg contributed to this report from Tel Aviv.

Follow AP’s war coverage at  https://apnews.com/hub/israel-hamas-war

Israeli Prime Minister Benjamin Netanyahu, center, speaks to Defense Minister Yoav Gallant, left, at the opening of the 25th Knesset session marking the anniversary of the "Iron Swords" war, in Jerusalem, Monday, Oct. 28, 2024. (Debbie Hill/Pool Photo via AP)

Israeli Prime Minister Benjamin Netanyahu, center, flanked by Defense Minister Yoav Gallant, second from left, attends at the opening of the 25th Knesset session marking the anniversary of the "Iron Swords" war, in Jerusalem, Monday, Oct. 28, 2024. (Debbie Hill/Pool Photo via AP)

Israeli Prime Minister Benjamin Netanyahu speaks at the opening of the 25th Knesset session marking the anniversary of the "Iron Swords" war, in Jerusalem, Monday, Oct. 28, 2024. (Debbie Hill/Pool Photo via AP)