OAK RIDGE, TN (Story courtesy of WVLT) – Thursday, Tennessee Gov. Bill Lee announced that Oklo Inc. has selected Oak Ridge, Tennessee for their new $1.7 billion expansion.
Oklo is an advanced nuclear technology company and the new facility will create over 800 new jobs.
“The facility will recycle used nuclear fuel from today’s operating fleet, establishing the nation’s first privately funded nuclear recycling capability and providing a durable, domestic fuel supply for advanced reactors,” said the Tennessee Department of Economic and Community Development.
Governor Lee said Tennessee is in a great position for nuclear energy.
“Tennessee is well-positioned to lead America’s energy independence, which is why we created the Nuclear Energy Fund to support and expand our state’s nuclear ecosystem. We’re proud to partner with Oklo to innovate for the future, while bringing continued opportunity and prosperity to Tennessee families,” said Lee
The new expansion is one of many that have been utilizing a fund that helps companies mover to Tennessee.
“Oklo is the fifth company to locate in Tennessee utilizing the Nuclear Energy Fund, which assists nuclear power-related businesses choosing to relocate or grow in the Volunteer State and supports the state’s universities and research institutions in further developing their nuclear education programs,” said TDEC.
The total Nuclear Energy Fund is $50 million and it was in Gov Lee’s recommended 2023-2024 budget and an extra $20 million was allocated in the 2024 and 2025 legislative sessions.
