Oklo Enters Strategic Collaborations With Hexium and TerraPower to Launch New Pathway for Domestic HALEU Enrichment

Oklo (NYSE: OKLO), an advanced nuclear technology company, today announced strategic collaborations with Hexium, a pioneering isotope enrichment company, and TerraPower, a nuclear innovation company, with the goal of ultimately accelerating domestic production of High-Assay Low-Enriched Uranium (HALEU) at industry leading cost targets. As part of this effort, the three companies are collaborating with Lawrence Livermore National Laboratory (LLNL) to evaluate the potential of Atomic Vapor Laser Isotope Separation (AVLIS), a robust legacy technology that offers one of the most promising paths to commercial-scale enrichment of reactor-grade uranium. The strategic partnership will assess how modern technologies, systems, and processes can unlock AVLIS’s potential as an industrial scale uranium enrichment technology to fuel the nuclear renaissance. Independent benchmarking will be provided by MPR Associates, recognized experts in nuclear engineering and enrichment systems, to compare performance against leading enrichment technologies. This collaboration addresses a critically urgent bottleneck in deploying advanced nuclear reactors in the United States.

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With more than a dozen advanced reactor designs progressing toward deployment, the lack of a domestic commercial HALEU supply is widely seen as the most pressing obstacle to scaling the next generation of nuclear energy in the United States. HALEU enables more compact and efficient reactor designs and the US Department of Energy (DOE) projects a need for up to 40 metric tons annually by the early 2030s. Presently, there is no sustained domestic production capable of meeting this demand. Reliance on foreign sources poses U.S. energy security risks, as only ~700kgs have been produced domestically since 2023. This collaboration provides a strategic alternative: a rapidly scalable, proven, and clean domestic enrichment pathway that aligns with the DOE’s mission to quadruple nuclear power in the United States by 2050. The strategic project aligns with the DOE’s broader efforts to reindustrialize the domestic nuclear fuel supply chain, reduce geopolitical risk, and strengthen long-term energy resilience.

This initiative brings together a diverse set of capabilities. Hexium contributes next-generation laser enrichment technology and deep technical expertise in isotope separation. Oklo contributes a deployment-focused reactor pipeline along with leadership in the fuel cycle and engineered real-world systems. TerraPower brings decades of experience in nuclear innovation and industrial-scale deployment, helping position AVLIS for long-term integration into the national fuel ecosystem. Together, the collaborating parties are jointly funding and guiding research and development to deliver a validated conceptual design and technoeconomic assessment of AVLIS-based HALEU production. This coordinated effort is critical to moving breakthrough technologies like AVLIS from the lab into commercial deployment with a focus on domestic production, regulatory readiness, and the technological advancement necessary to make advanced nuclear power a part of America’s energy future.

“This collaboration goes beyond just fuel and is about building the next generation of American nuclear infrastructure,” said Charlie Jarrott, co-founder and CEO of Hexium. “By aligning breakthrough enrichment technology with real-world reactor demand from Oklo and TerraPower and the expertise of our national laboratories, we’re advancing a solution that’s compact, scalable, and energy-efficient. A validated AVLIS design for HALEU over the next year won’t just accelerate deployment of advanced reactors but will strengthen U.S. energy security and reestablish leadership in nuclear fuel innovation.”

“Building a secure domestic fuel supply is a national priority. This effort supports the U.S. goal of expanding HALEU production through innovative technologies and private-sector partnerships,” said Jacob DeWitte, co-founder and CEO of Oklo. “This is about building U.S. leadership in fuel technology, and laser enrichment has the potential to be a flexible, scalable option for HALEU, and a strategic asset for the U.S. fuel supply chain.”

“TerraPower has been committed to advancing the domestic HALEU supply chain through investments on multiple fronts, and we are excited about Hexium’s efforts to bring enrichment technology research from our national laboratories into the commercial space and glad to be a collaborator on this study,” said Jeff Miller, TerraPower’s Vice President of Business Development.

Unlike traditional centrifuge-based approaches, AVLIS uses finely tuned lasers to selectively ionize uranium isotopes, enabling enrichment with greater precision and energy efficiency. Additionally, its compact design requires no chemical conversion to uranium hexafluoride, thus simplifying the system level enrichment process and reducing both infrastructure complexity, process cost, and chemical handling requirements. When ready for industrial scaling, this will allow faster deployments and support scalable, parallel production. While AVLIS has been demonstrated at large-scale pilot stages in the past, this initiative marks a renewed effort to commercialize the technology and deploy it as a scalable U.S.-based enrichment pathway that supports current policy, energy security and advanced reactor goals.

The project aligns with recent DOE initiatives and federal executive actions focused on accelerating deployment of advanced reactors and revitalizing America’s nuclear fuel infrastructure. As the U.S. advances toward a cleaner and more secure energy future, a reliable supply of advanced nuclear fuel will be essential to unlocking innovation, attracting investment, and ensuring long-term energy resilience. This strategic collaboration represents a unified effort to address one of the most critical infrastructure challenges in the energy transition by advancing a commercially scalable HALEU enrichment pathway. This initiative lays the foundation for renewed American leadership in energy, national security, and industrial innovation while directly supporting efforts to strengthen energy security, reduce reliance on foreign sources, and rebuild a resilient domestic nuclear supply chain.

ABOUT OKLO

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 material 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 U.S. National Laboratories.

ABOUT HEXIUM

Hexium is advancing domestic isotope enrichment to initially power next-generation fission and fusion reactors. Building on proven AVLIS technology from Lawrence Livermore National Laboratory, Hexium’s team of global leaders in laser isotope separation and industrial-scale production are creating a reliable, scalable supply of isotopes to fuel the nuclear renaissance. Hexium is driving the transition to cleaner, safer, and more sustainable energy solutions. For more information, visit www.hexium.us.

ABOUT TERRAPOWER

TerraPower is a leading nuclear innovation company that strives to improve the world through nuclear energy and science. Since it was founded by Bill Gates and a group of like-minded visionaries, TerraPower has emerged as an incubator and developer of ideas and technologies that offer energy independence, environmental sustainability, medical advancement, and other cutting-edge opportunities. It accepts and tackles some of the world's most difficult challenges. Behind each of its innovations and programs, TerraPower actively works to bring together the strengths and experiences of the world's public and private sectors to answer pressing global needs. Learn more at terrapower.com.

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.

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