SANTA CLARA, Calif. - Oklo Inc. (NYSE: OKLO), a company focused on advanced nuclear technology, has announced plans to acquire Atomic Alchemy Inc. through an all-stock transaction. Atomic Alchemy recently signed a Memorandum of Understanding (MOU) with Zeno Power Systems, Inc., a developer of Radioisotope Power Systems (RPSs) for space and terrestrial applications.
This partnership is poised to leverage Atomic Alchemy's capabilities in radioisotope production, particularly strontium-90 and americium-241, to support Zeno Power's RPSs. These systems convert heat from radioisotopes into clean energy, crucial for remote and off-grid environments.
Zeno Power has previously demonstrated a strontium-90 heat source and has secured over $65 million in contracts with entities including NASA and the U.S. Space Force. The collaboration with Atomic Alchemy is expected to enhance the supply chain for these critical isotopes.
Thomas Eiden, Founder and CEO of Atomic Alchemy, emphasized the importance of the collaboration in advancing nuclear technologies for demanding missions. Harsh S. Desai, Chief Commercialization Officer at Zeno Power, expressed excitement about working with Atomic Alchemy and Oklo to recover valuable radioisotopes.
Oklo Inc. has made significant strides in the nuclear energy sector, including obtaining a site use permit from the U.S. Department of Energy and submitting a license application to the U.S. Nuclear Regulatory Commission. The company is also advancing fuel recycling technologies.
Atomic Alchemy Inc. is at the forefront of establishing a resilient U.S.-based radioisotope supply chain, developing the Versatile Isotope Production Reactor (VIPR®) technology to address global shortages and support national security.
Zeno Power, founded in 2018, is executing contracts with NASA and the U.S. Department of Defense, with plans to deliver initial RPSs by 2026.
This article is based on a press release statement. The information provided includes forward-looking statements subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those projected.
In other recent news, Oklo Inc. has reported a series of significant developments. The company issued 2.5 million shares following a price milestone, a decision linked to a merger agreement with AltC Acquisition Corp. and Oklo Technologies, Inc. Oklo has also partnered with two leading data center providers to supply up to 750 megawatts of low-carbon power, expanding its customer pipeline to approximately 2,100 MW.
The company secured an Environmental Compliance Permit for its first commercial advanced fission power plant site at the Idaho National Laboratory. Furthermore, Oklo's lock-up period has concluded, potentially increasing the stock's market liquidity, and 50% of the Vesting Founder Shares held by the Sponsor, AltC Sponsor LLC, have vested.
Oklo has switched to Deloitte & Touche LLP as its new independent registered public accounting firm. Coverage of Oklo has been initiated by analysts from B. Riley and Citi, with B. Riley highlighting the potential of the company's advanced nuclear technology, while Citi reiterated a neutral stance.
Lastly, Oklo has entered into a Preferred Supplier Agreement with Siemens (ETR:SIEGn) Energy to further commercialize its advanced fission technology. These are the recent developments for Oklo Inc.
InvestingPro Insights
Oklo Inc.'s recent announcement of its plans to acquire Atomic Alchemy Inc. comes at a time when the company's financial metrics and market performance present an intriguing picture for investors. According to InvestingPro data, Oklo has a market capitalization of $2.56 billion, reflecting significant investor interest in its advanced nuclear technology initiatives.
Despite the company's ambitious plans, InvestingPro Tips highlight that Oklo is not currently profitable, with a negative P/E ratio of -32.94 for the last twelve months as of Q3 2024. This aligns with the tip that analysts do not anticipate the company will be profitable this year. However, it's worth noting that 2 analysts have revised their earnings upwards for the upcoming period, suggesting potential improvements on the horizon.
Oklo's stock has demonstrated strong performance, with a 102.81% price total return over the past year and an impressive 195.49% return over the last three months. This robust growth may be attributed to investor optimism surrounding the company's strategic moves, such as the Atomic Alchemy acquisition and partnerships in the nuclear energy sector.
Interestingly, an InvestingPro Tip indicates that Oklo holds more cash than debt on its balance sheet, which could provide financial flexibility as it pursues its expansion plans and technological developments. This solid cash position is particularly relevant given the capital-intensive nature of the nuclear industry and the company's ongoing projects.
For investors seeking a deeper understanding of Oklo's financial health and market potential, InvestingPro offers 14 additional tips, providing a comprehensive analysis to inform investment decisions in this dynamic sector.
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