Oklo plans $1.68 billion nuclear fuel recycling facility in Tennessee

Oklo Inc. (NYSE: OKLO) announced plans to build a fuel recycling facility in Tennessee as part of an advanced fuel center that could total up to $1.68 billion in investment and create more than 800 jobs. The facility would be the first privately funded operation in the U.S. to recycle used nuclear fuel.

The initial phase will focus on recycling used nuclear fuel into fuel for fast reactors, including Oklo's Aurora powerhouse. The company stated the facility is expected to begin producing metal fuel by the early 2030s, pending regulatory review and approvals.

Oklo is exploring collaboration with the Tennessee Valley Authority to recycle the utility's used fuel at the new facility and evaluate potential power sales from future Oklo powerhouses in the region. This would mark the first time a U.S. utility has explored recycling its used fuel using modern electrochemical processes.

"Fuel is the most important factor in bringing advanced nuclear energy to market," said Jacob DeWitte, Oklo co-founder and CEO. "By recycling used fuel at scale, we are turning waste into gigawatts, reducing costs, and establishing a secure U.S. supply chain."

The company has completed a licensing project plan for the fuel recycling facility with the U.S. Nuclear Regulatory Commission and is currently in pre-application engagement. In July, Oklo completed pre-application readiness assessment for Phase 1 of the combined license application for its first commercial Aurora powerhouse.

According to Oklo, more than 94,000 metric tons of used nuclear fuel stored at power plant sites contain energy equivalent to about 1.3 trillion barrels of oil. The recycling facility will recover usable fuel material from used nuclear fuel and fabricate it into fuel for advanced reactors.

"Tennessee is well positioned to lead America's energy independence, which is why we created the Nuclear Energy Fund to support and expand our state's nuclear ecosystem," said Governor Bill Lee.

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