Wedoany.com Report-May 28, On Tuesday, Oklo, a U.S.-based nuclear technology company, announced a memorandum of understanding (MOU) with Korea Hydro & Nuclear Power (KHNP), a South Korean nuclear power plant operator, to collaborate on the development of Oklo’s Aurora powerhouse. The agreement focuses on advancing and deploying Oklo’s advanced nuclear technology worldwide.

Cooling towers at Temelin nuclear power plant in the Czech Republic, where Korea Hydro & Nuclear Power (KHNP) has the right to be the first negotiator when the country decides to build two reactors there in five years.

Following the announcement, Oklo’s shares rose by 1.9 percent, reaching $49.71 during morning trading. The partnership aims to leverage the expertise of both companies to promote clean energy solutions globally.

The nuclear energy sector is gaining attention for its reliability and lower environmental impact compared to other renewable sources like wind or solar. This collaboration aligns with the growing interest in nuclear power as a sustainable energy option for various industries.

Oklo’s Aurora powerhouse, a 75-megawatt electric neutron fission reactor, is designed to provide clean and cost-effective energy, particularly for industries such as data centers. The facility is being developed at the Idaho National Laboratory site in the United States. Unlike traditional nuclear reactors, which require frequent refueling, the Aurora powerhouse needs refueling only once every decade or more, potentially reducing operational costs.

“We are excited to work with KHNP to advance our Aurora powerhouse and bring reliable, clean energy to the world,” said a spokesperson for Oklo. The company is currently navigating the licensing process for the Aurora facility and anticipates completing it later in 2025.

The MOU outlines plans for Oklo and KHNP to jointly focus on the development and validation of the Aurora powerhouse outlining plans for Oklo and KHNP to jointly focus on the development and validation of the Aurora powerhouse, combining Oklo’s innovative reactor design with KHNP’s expertise in nuclear operations and construction. Supported by investor Sam Altman, Oklo aims to strengthen its position in the global nuclear energy market through this partnership.

This initiative reflects the broader industry trend of exploring advanced nuclear technologies to meet growing energy demands sustainably. The collaboration between Oklo and KHNP is expected to contribute to the global adoption of efficient and environmentally friendly energy solutions.