Oklo Inc., an advanced nuclear technology company, will invest nearly $1.7 billion to build a fuel recycling facility in Oak Ridge, Tennessee, creating over 800 jobs. The facility, located on a 247-acre site at the Oak Ridge Heritage Center, will be the first privately funded nuclear fuel recycling center in the U.S., turning used nuclear fuel into a domestic supply for advanced reactors.
“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,” Don Moul, TVA President and CEO, said. “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.”
Oklo is also exploring opportunities with TVA to recycle used fuel at the new facility and to evaluate potential power sales from future Oklo powerhouses in the region to TVA. This collaboration would mark the first time a U.S. utility has explored recycling its used fuel into clean electricity using modern electrochemical processes, turning a legacy liability into a resource while creating a secure fuel supply for the future.
The recycling facility is the first phase of Olko’s broader advanced fuel center. It will recover usable material from used nuclear fuel and fabricate it into metal fuel for fast reactors like Olko’s Aurora powerhouse.
Olko has completed a licensing project plan with the U.S. Nuclear Regulatory Commission and is in pre-application engagement. The facility is expected to begin producing fuel by the early 2030s.
This project marks the fifth company utilizing the support of Tennessee’s Nuclear Energy Fund, which assists nuclear power-related businesses choosing to locate or grow in Tennessee and development of the state’s nuclear research and education programs.
Olko’s project positions Tennessee as a leader in advanced nuclear energy, bringing high-skilled jobs and private investment to the state.