Atomic Alchemy specialises in producing nuclear materials like radioisotopes, vital for atomic power but increasingly scarce due to reliance on Russian sources.
Oklo’s proposed acquisition of Atomic Alchemy would establish a domestic supply of radioisotopes, securing fuel for its reactors that provide clean energy to data centre sites across the US.
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“The proposed acquisition is expected to enable Oklo to significantly broaden its impact, as our fast reactor and fuel recycling technologies allow us to produce radioisotopes as a coproduct,” said Jacob DeWitte, co-founder and CEO of Oklo. “By incorporating radioisotope production into our fuel recycling process, Oklo is establishing a complementary revenue stream and contributing to a more resilient radioisotope supply chain.”
Prior to the announcement, the companies enjoyed a partnership signed in May, in which Atomic Alchemy provided Oklo with domestic supplies of isotopes and tritium to help reduce dependence on foreign suppliers.
Oklo has now decided to purchase Atomic Alchemy outright for $25 million in an all-stock transaction.
Note date was provided for when the transaction is expected to close, though Oklo said it would have a “minimal immediate impact” on its operating cost structure.
Once it closes, the pair plan to develop specialised radioisotope production capabilities that would address supply shortages for reactors and medical radioisotopes such as radiotherapy devices used to target and destroy cancerous cells.
Sam Altman, OpenAI CEO and chair of Oklo said: “I deeply believe in the importance of abundance and reliable energy for the future, and Oklo’s proposed acquisition of Atomic Alchemy opens the door for nuclear technology to play an even greater role in solving critical energy, medical, and industrial challenges.”
More data centre customers
Oklo is one of a handful of energy startups Altman has invested in that aim to provide alternative energy sources to startups, joined by the likes of Exowatt and Helion Energy.
Days before announcing its Atomic Alchemy acquisition, Oklo revealed it partnered with two “major data centre providers” to provide 750MW of power to their US data centre sites.
The unnamed operators will leverage Oklo’s Aurora system, which provides power directly on-site or to nearby facilities ranging from 15MW to 50MW.
The latest partnership brings Oklo’s customer pipeline to around 2,100MW.
“The strong customer response reflects confidence in Oklo’s clean, reliable, and affordable power solutions,” DeWitte said.
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