Oklo Inc. Selects Tennessee for Advanced Fuel Center, Anchored by Nation’s First Privately Funded Nuclear Fuel Recycling Facility

• Nuclear technology company to invest nearly $1.7 billion, create more than 800 jobs in Oak Ridge, Tennessee

OAK RIDGE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter and Oklo Inc. officials announced today the company has selected Oak Ridge, Tennessee, as the location of a nearly $1.7 billion expansion.

Oklo, an advanced nuclear technology company, will create more than 800 new jobs through the project, which includes the development of an advanced nuclear fuel recycling facility on a 247-acre site at the Oak Ridge Heritage Center. The facility will recycle used nuclear fuel from today’s operating fleet, establishing the nation’s first privately funded nuclear recycling capability and providing a durable, domestic fuel supply for advanced reactors.

Oklo is the fifth company to locate in Tennessee utilizing the Nuclear Energy Fund, which assists nuclear power-related businesses choosing to relocate or grow in the Volunteer State and supports the state’s universities and research institutions in further developing their nuclear education programs.

The $50 million fund was in Gov. Lee’s recommended 2023-2024 budget and approved by the Tennessee General Assembly. An additional $20 million was allocated and approved in the state’s budget during both the 2024 and 2025 legislative sessions.

The project announced today was vetted and recommended by the Education and Workforce subgroup, part of the 22-member Tennessee Nuclear Energy Advisory Council.

 

QUOTES
“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. We're proud to partner with Oklo to innovate for the future, while bringing continued opportunity and prosperity to Tennessee families.” – Gov. Bill Lee

“Today’s announcement marks another significant milestone for our state in becoming a leader for clean and reliable energy. With assets like Oak Ridge National Laboratory (ORNL), a rich history in the nuclear industry and leadership that stands ready to support Oklo’s next steps, we know Tennessee is the ideal location for this project and the company’s continued nuclear efforts. We look forward to seeing the incredible impact this project has, and we’re grateful to welcome Oklo to the Tennessee family.” – TNECD Commissioner Stuart C. McWhorter

“We’re proud to make this commitment in Tennessee, where our investment will create hundreds of skilled jobs and establish a world-class nuclear fuel center. By recycling used fuel, we’re building the supply chain for the next generation of nuclear technology with advanced fuels that power industry and support durable jobs for decades to come.” – Jacob DeWitte, co-founder and CEO, Oklo

“Tennessee is the core of America’s nuclear renaissance. Under Governor Lee’s leadership, the state is leading the way in attracting the companies that will build America’s energy future. Oklo’s announcement will ensure these innovative nuclear technologies are built and developed in our backyard. TVA is proud to support Oklo’s work to develop the next-generation of nuclear technologies needed to power AI-infrastructure and drive economic growth.” – Don Moul, president and CEO, TVA

“Roane County is proud to be the new home of Oklo. This historic location decision validates our community’s commitment to nuclear energy, made possible only because of the extensive environmental cleanup efforts of the Department of Energy's Office of Environmental Management and its contractor, UCOR. Oklo’s presence in the Oak Ridge Corridor is proof that we are successfully completing ‘cleanup today for a nuclear tomorrow.’” – Roane County Executive Mayor Wade Creswell

“Oklo’s investment of nearly $1.7 billion is another transformative moment for Roane County, Oak Ridge and the entire region. With more than 800 high-quality jobs on the way, this project reflects Tennessee’s leadership in innovation, energy and economic opportunity. I’m proud to have supported initiatives like this that secure a stronger economic future for our communities. Because of Governor Lee's vision, Tennessee is leading the country in nuclear innovation.” – Sen. Ken Yager (R-Kingston)

“This project marks an exciting milestone as we welcome another industry leader in Oklo to Oak Ridge. This significant investment brings more than 800 high-quality jobs to support local families and reinforce the ‘Oak Ridge Advantage.’ I look forward to seeing this project come to life and thank everyone who worked hard to make it happen.” – Rep. Monty Fritts (R-Kingston)

 

About the Tennessee Department of Economic and Community Development (TNECD)
TNECD is the state's primary agency committed to fostering economic growth through job creation and community development. By attracting new corporate investment and facilitating the growth of existing businesses, the department works to strengthen Tennessee's competitive landscape. Additionally, TNECD strives to increase the economic prosperity for all Tennesseans by providing grants to communities statewide, helping them to become vibrant, business-friendly environments where companies can flourish. For more information, visit us at tnecd.com. Join the conversation on Twitter, Instagram, LinkedIn, Facebook and YouTube.

 

TNECD
Chris O’Brien
Public Information Officer
(615) 934-5879
Chris.OBrien@tn.gov

 

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