Latest news with #JacobDeWitte
Business Wire
8 hours ago
- Business
- Business Wire
Oklo and Vertiv Announce Collaboration to Advance Power and Cooling Solutions for Hyperscale and Colocation Data Centers in the United States
SANTA CLARA, Calif.--(BUSINESS WIRE)--Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, and Vertiv (NYSE: VRT), a global leader of critical digital infrastructure, today announced a collaboration agreement focused on the co-development of advanced power and thermal management solutions tailored specifically for hyperscale and colocation data centers, powered by steam and electricity from Oklo's advanced nuclear power plants. The pilot technology demonstration is planned for the initial Oklo Aurora powerhouse. In response to surging data center power demand in the U.S., Oklo and Vertiv are joining forces to revolutionize data center operations through an integrated solution that co-optimizes power and cooling, with Oklo's reliable clean energy generation and Vertiv's specifically designed advanced power and thermal management systems. By leveraging heat from Oklo's onsite power plant to drive Vertiv's cooling systems, the collaboration will significantly enhance data center energy efficiency. This approach delivers resilient power for demanding AI and high-performance computing operations while reducing environmental impact. The companies will work together to produce end-to-end reference designs for data centers that use Oklo's onsite power plants. 'This agreement is about delivering clean power, energy-efficient cooling, and infrastructure solutions purpose-built for AI factories, data centers, and high density compute,' said Jacob DeWitte, Co-Founder and CEO of Oklo. 'We are developing a plant concept that leverages proven, off-the-shelf components without altering the core design of our plants. Vertiv is an expert in cooling and power innovation for data centers and critical infrastructure, so co-designing these solutions from the outset, we can create greater value and efficiency for data center and infrastructure operators. ' Vertiv CEO Gio Albertazzi stated, 'Our collaboration with Oklo is an extension of Vertiv's commitment to energy-efficient infrastructure that supports modern data center demand s. As the demand for AI and high-performance computing continues to grow, nuclear energy is increasingly a discussion point for hyperscale, colocation, and other large data centers. Vertiv is committed to driving innovation with the higher cooling capacities and energy efficiencies required to support modern data centers.' Oklo's approach to power generation is designed to adapt quickly to market needs, offering customers more usable energy and enabling seamless teamwork between the power source and data center operations. By co-designing energy and thermal management from the beginning, and by deploying at a site adjacent to customer demand, Oklo and Vertiv will deliver a unified solution that simplifies deployment and enables improved performance and energy efficiency of data centers. These capabilities are uniquely enabled by Oklo's role as the owner and operator of its power plants, allowing for deeper integration with customer infrastructure and greater flexibility in how and where data centers are deployed. 'This partnership shows how Oklo is thinking about how and where advanced nuclear can be deployed,' added DeWitte. 'We're enhancing what already works to meet the needs of fast-growing industries with the speed, flexibility, and direct integration that our model is built to deliver.' This collaboration marks an important step in exploring how advanced nuclear energy can support the evolving power and cooling needs of data centers and other high-growth sectors, an increasing emphasis in Oklo's growing customer pipeline. About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, and affordable energy at scale, establishing a domestic supply chain for critical radioisotopes, and advancing nuclear fuel recycling to convert nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and national laboratories. About Vertiv Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers' vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today's data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit 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 DOE's Voucher Program, 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 the DOE's Voucher Program fails 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. Forward-looking statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act. These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Readers are referred to Vertiv's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning Vertiv and its operations. Vertiv is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Yahoo
4 days ago
- Business
- Yahoo
Why Oklo Stock Popped on Thursday
Key Points Oklo announced it has completed a "pre-application readiness assessment" for its first NRC reactor license. The company plans to file its application for a license for Phase 1 of its construction plan later this year. Oklo anticipates getting the reactor on line and generating revenue in 2027. 10 stocks we like better than Oklo › Oklo (NYSE: OKLO) stock jumped 4% through 1:20 p.m. ET Thursday after the small nuclear reactor-builder announced it has completed its Nuclear Regulatory Commission (NRC) "pre-application readiness assessment" for the first part of a combined license application (COLA) to build its "Aurora powerhouse" at Idaho National Laboratory (INL). What does this mean? Translated into English, this means Oklo is one step closer to building a small modular reactor at INL. More precisely, it's one step closer to being able to apply for permission to build said reactor. (Whether NRC deems the application worthy of approval remains to be seen.) Put this way, it's less of a needle-mover for the stock, but as Oklo CEO Jacob DeWitte explained, it does indicate that NRC thinks Oklo is on track to file an application with a decent chance of getting it approved. The next step for Oklo along this journey to approval (now underway for nearly a decade) will be to submit its COLA application, and that should happen later this year. Is Oklo stock a buy? Oklo's still a long way away from becoming a viable business, although it's 10 years closer than when it started. Long term, the company intends to build reactors in-house, place them on sites near its customers, then operate the reactors and supply power, charging for electricity much in the same way an ordinary electric utility does. If all goes as planned, the company's first reactor will go online in 2027, and the company will begin generating revenue that year. Oklo won't turn profitable until 2030, however, according to analysts. Whether the stock is a "buy" at its current $10 billion market cap depends very much on how much profit it will generate that year, and in all the years to come. Should you invest $1,000 in Oklo right now? Before you buy stock in Oklo, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Oklo wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,281!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,050,415!* Now, it's worth noting Stock Advisor's total average return is 1,058% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Oklo Stock Popped on Thursday was originally published by The Motley Fool
Business Wire
5 days ago
- Business
- Business Wire
Oklo Advances Licensing with Completion of NRC Readiness Assessment
SANTA CLARA, Calif.--(BUSINESS WIRE)--Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, has announced the successful completion of the U.S. Nuclear Regulatory Commission's (NRC's) pre-application readiness assessment for Phase 1 of the combined license application (COLA) for Oklo's first commercial Aurora powerhouse at Idaho National Laboratory (INL). The NRC's observations affirmed Oklo's readiness to move forward, with no significant gaps identified that would hinder acceptance of the application. Observations were also provided that will help Oklo finalize the application to support an efficient and effective review process. 'We view this assessment as a productive engagement tool that moves our licensing and permitting work forward,' said Jacob DeWitte, Co-Founder and CEO of Oklo. 'Our team has worked closely with the NRC to build a clear, efficient licensing pathway, and this is a good signal that we are on track.' Oklo has proactively engaged with the NRC since 2016 and has completed a broad range of pre-application activities, including securing an approved Quality Assurance Program Description and advancing critical licensing elements such as safety analysis, component classification, and operational protocols. The completion of this assessment reflects both Oklo's innovative approach to licensing and the NRC's broader commitment—reinforced by the ADVANCE Act and recent Executive Orders—to modernize regulatory processes and enable the timely deployment of advanced nuclear technologies. Notably, the NRC's move to support standardized environmental review templates for reactor and site characteristics marks a meaningful step toward repeatable, accelerated licensing for advanced reactors. Oklo plans to submit the first phase of the Aurora-INL COLA this year. Oklo's licensing strategy supports the efficient and repeatable deployment of its Aurora powerhouses, enabling future follow-on applications to serve its growing pipeline of commercial and Federal customers. About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, and affordable energy at scale; establishing a domestic supply chain for critical radioisotopes; and advancing nuclear fuel recycling to convert nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and National Laboratories. 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 DOE's Voucher Program, 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 the DOE's Voucher Program fails 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.
Bloomberg
15-07-2025
- Business
- Bloomberg
Future of America's Nuclear Renaissance
Jacob DeWitte, CEO of Oklo, says regulatory tailwinds are allowing the company to make progress on innovative nuclear reactors plants. (Source: Bloomberg)
Bloomberg
15-07-2025
- Business
- Bloomberg
Oklo Hires Kiewit to Build Small Nuclear Plant at Idaho Lab
Save Oklo Inc. has selected a contractor to build its first nuclear power plant, a sign the energy startup is gaining momentum in its efforts to deliver a new type of reactor. Kiewit Nuclear Solutions Co. agreed to be the lead constructor for a small reactor Oklo plans to install at Idaho National Laboratory. Oklo expects to submit an application for its design to the Nuclear Regulatory Commission by the end of this year, and the Idaho plant may be complete by late 2027, Chief Executive Officer Jacob DeWitte said Tuesday on Bloomberg TV.
