SANTA CLARA, Calif., March 05, 2025--(BUSINESS WIRE)--Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, announced today that it has closed the acquisition of Atomic Alchemy Inc. ("Atomic Alchemy"), a leading innovator in radioisotope production. Atomic Alchemy is pioneering a resilient U.S.-based radioisotope supply chain with its proprietary production and recovery technologies, including its Versatile Isotope Production Reactor (VIPR®) technology. This strategic acquisition enhances Oklo’s capabilities to establish a reliable domestic supply chain for high-value radioisotopes critical to healthcare, research, and defense sectors and provides synergies to Oklo’s fuel recycling and nuclear energy businesses.

The acquisition of Atomic Alchemy brings immediate benefits to Oklo’s business:

• Expanding into an Attractive Market: This acquisition diversifies Oklo’s business and market reach into new sectors such as biotech, pharmaceuticals, space, defense, and semiconductors.
• Establishing Domestic Radioisotope Production: Oklo and Atomic Alchemy intend to develop specialized radioisotope production capabilities to address urgent supply shortages in life-saving medical radioisotopes and advanced industrial applications.
• Accelerating and Diversifying Revenue Streams: Atomic Alchemy expects to begin generating initial revenue prior to completing its first radioisotope production reactors.
• Leveraging Complementary Technologies: Radioisotopes can enhance the economics of nuclear fuel recycling, providing synergies with Oklo’s existing nuclear energy and nuclear fuel recycling businesses.
• Expanding Semiconductor Capabilities: Atomic Alchemy’s technologies include Neutron Transmutation Doping of silicon, a "gold-standard" process that uses neutrons produced in a nuclear reactor to convert silicon atoms into phosphorus. This process enables precise and uniform doping of semiconductor materials at scale, making it a transformative capability for the semiconductor industry.

Radioisotopes produced from Oklo’s fast reactor and fuel recycling technologies are essential for applications across healthcare, energy, industry, and technology and are expected to represent a $55.7 billion market opportunity by 2026, according to Research Nester. Demand for radioisotopes is expected to increase significantly over the next decade, while global supply struggles to keep pace due to aging reactor infrastructure and a fragmented global supply chain, which at present is dominated by countries outside the United States. Atomic Alchemy intends to be a low-cost U.S. radioisotope producer that can provide a secure and domestic supply of radioisotopes to U.S. companies commercializing innovative radioisotope applications.

"Oklo aims to address growing market demand for radioisotopes through reliable, U.S.-based radioisotope production facilities that leverage our power and fuel recycling technologies," said Jacob DeWitte, Co-Founder and CEO of Oklo. "With this acquisition complete, we are excited to expand our capabilities in commercial radioisotope production."

Oklo acquired Atomic Alchemy on February 28^th, 2025, for $25 million in an all-stock transaction. Atomic Alchemy will operate as an Oklo subsidiary and continue to operate under its Atomic Alchemy brand. The acquisition is expected to have minimal immediate impact on Oklo’s operating costs and 2025 outlook. The company intends to provide more details about the acquisition on its Full Year 2024 Company Update call.

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 U.S. Nuclear Regulatory Commission, and is developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories.

About Atomic Alchemy Inc.: Atomic Alchemy Inc. is pioneering a resilient U.S.-based radioisotope supply chain to meet essential demands across healthcare, industry, research, and defense. With its proprietary VIPR® technology, Atomic Alchemy is building the first scalable production facility to provide a reliable, sustainable source of high-value radioisotopes. Using a vertically integrated model and fuel recycling, in partnership with Oklo, Atomic Alchemy is transforming isotope production to address global shortages, support critical applications, and strengthen national security.

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 proposed acquisition, 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; the risk that an agreement with Atomic Alchemy and the proposed acquisition thereof do not materialize or fail to produce the expected benefits; 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.

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Contacts

Media and Investor Contact for Oklo:
Bonita Chester, Head of Communications and Media at media@oklo.com  

Investor Contact:
Sam Doane, Director of Investor Relations at investors@oklo.com