Oklo, South Korea's KHNP enter into agreement to develop Aurora nuclear facility
Shares of Oklo were up 1.9% at $49.71 in morning trade.
Oklo also said the MOU outlines plans to collaborate on the development and deployment of its advanced nuclear technology globally.
Nuclear companies are in high demand as the industry is considered to be a cleaner source of fuel and more reliable than wind or solar energy.
U.S. President Donald Trump on Friday signed executive orders seeking to jumpstart the nuclear industry where the orders direct the nation's independent nuclear regulatory commission to cut down on regulations and fast-track new licenses for reactors and power plants.
Oklo said it plans to deploy its 75 megawatt electric (MWe) Aurora powerhouse, a neutron fission-reactor designed for providing clean and affordable energy to industries including data centers. The facility is located at the Idaho National Laboratory site.
The company is currently advancing through the licensing process and expects to complete it later this year.
The Aurora powerhouse, through its nuclear technology, needs to be refueled once every 10 years or more, unlike traditional reactors where one-third of the reactor core is changed every 1 to 2 years, and is expected to have lower costs.
The Sam Altman-backed Oklo said under the agreement it will collectively work, with the South Korean nuclear operation and construction company, towards development and verification of the Aurora powerhouse.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
11 minutes ago
- The Independent
Tesla must pay $329 million for a deadly crash involving Autopilot, jury says
A Miami jury has ordered Elon Musk's car manufacturer, Tesla, to pay $329 million to victims of a fatal crash involving its Autopilot driver-assist technology. The ruling, delivered on Friday, could open the door to further costly lawsuits and deals a significant blow to the company's reputation for safety. The federal jury found Tesla bore substantial responsibility, citing a failure in its technology. This determination means that not all blame could be attributed to the reckless driver, who admitted being distracted by his mobile phone before hitting a young couple who were stargazing. The conclusion of this four-year case is remarkable, not just for its outcome, but because it even reached trial. Many similar cases against Tesla have previously been dismissed or settled by the company to avoid public scrutiny. This decision comes as Mr Musk seeks to convince the public of his vehicles' safety, particularly as he plans to roll out a driverless taxi service in several cities in the coming months. Mr Musk's Tesla company doesn't have the permits required to run any autonomous service, even with a safety driver, and they're unable to charge for it. Tesla has been in discussions with Golden State regulators about expanding the service to California but it would be with significant restrictions to Elon Musk's promises for his Robotaxi service, Politico reported. at least five times since the start of last year, documents reviewed by the outlet show.
Daily Mail
39 minutes ago
- Daily Mail
Washington Commanders move step closer to $3.7bn DC stadium… but Donald Trump threat still looms large
The Washington Commanders have received the green light to build a new $3.7billion stadium in DC - despite Donald Trump 's threat to scupper those plans if they don't revert their name back to the Redskins. Trump says he intends to block federal support for the stadium project unless the Commanders change back to the name it formerly adopted before being axed in 2020 amid pressure from fans, sponsors and Native American groups who considered 'Redskins' a racial slur. 'I may put a restriction on them that if they don't change the name back to the original "Washington Redskins," and get rid of the ridiculous moniker, "Washington Commanders," I won't make a deal for them to build a Stadium in Washington,' the president said on Truth Social last month. With Trump's threat still looming large, the Commanders cleared another hurdle in their aim to return to the site of their former home, RFK Stadium, on Friday when the District of Columbia Council approved the legislation. The bill passed by a 9-3 vote, though it still must be approved a second time by the council before being sent to Washington Mayor Muriel Bowser, who negotiated the original plan with Commanders owner Josh Harris in April. Washington currently plays at Northwest Stadium in Landover, Maryland, but aims to open a new venue in 2030. After the bill was passed, Harris said on Friday: 'Today's approval by the Council is transformational for D.C. and brings the Commanders back to our spiritual home. Like many fans, RFK was the site of memories that fueled my love for this team and this city. Now we're closer than ever to reigniting that energy for a new generation. 'We're incredibly grateful to the Mayor and the Council throughout this process for their leadership and guidance. 'This is a historic moment. This project is about more than delivering a world-class stadium worthy of our players, fans and the region. It's about revitalizing a critical part of our city, creating thousands of jobs and unlocking long-term economic benefits for the District. We look forward to working with our fans, residents, community leaders and elected officials to deliver on this vision.' The ownership group led by Harris has been considering locations in Washington, Maryland and Virginia since buying the team from Dan Snyder in 2022. Congress passed a bill transferring the RFK Stadium land to the city that was signed by then-President Joe Biden in early January. That paved the way for making it possible to replace the old stadium with a mixed-use development, including the new playing field for the Commanders. Council Chairman Phil Mendelson's office recently estimated the redevelopment could generate $26.6bn in tax revenue over 30 years. The district would contribute $1bn toward the stadium project, while the team would fund the remaining $2.7bn. However, Trump is now threatening to stand in the way of the project if his Redskins wish is not fulfilled. That issue did not come up in Friday's council meeting. Fans and even some Native American groups have voiced support for the team's new ownership group to revert to 'Redskins.' Several public opinion polls of self-identified Native Americans have found most were not offended by the term, while critics have pointed to academic research by the University of Michigan and UC Berkeley that found the opposite was true. Trump appeared to reference the public polling in favor of a name change on Sunday. 'Our great Indian people, in massive numbers, want this to happen,' he claimed. 'Their heritage and prestige is systematically being taken away from them. Times are different now than they were three or four years ago. We are a Country of passion and common sense. OWNERS, GET IT DONE!!!' He also demanded the same from MLB's Cleveland Guardians, née: 'Indians.' 'Likewise, the Cleveland Indians, one of the six original baseball teams, with a storied past,' Trump wrote.
Daily Mail
39 minutes ago
- Daily Mail
Toxic civil war rips apart island paradise loved by multimillionaires... and could see it completely wiped out
Well-heeled residents of Nantucket are embroiled in furious clashes over plans to protect mansion-lined stretches of coastline from falling into the ocean. The windswept paradise is a favorite of the Biden clan and also attracts Hollywood elites such as Beyoncé, Kourtney Kardashian and many others - but the very beaches that lure stars to the island paradise are now in danger.
