Oklo’s subsidiary Atomic Alchemy has begun site characterization work for a potential radioisotope production facility at the Department of Energy’s Idaho National Laboratory.
The Santa Clara, Calif. based advanced nuclear technology company Oklo made the announcement in a Tuesday press release. Its subsidiary, Atomic Alchemy, is based in Idaho Falls, Idaho and focuses on providing a radioisotope supply chain in the United States.
Radioisotopes are unstable atoms that emit radiation as it decays it becomes more stable. They are typically used for medicinal and industrial processes.
The site characterization activities include ensuring the production facility meets safety and building code requirements. It also involves supporting the design of structural foundation and collecting soil and rock samples to provide data on subsurface composition, Oklo said.
The start of site character work builds on Atomic Alchemy’s progress with previous approvals and agreements, Oklo said. Atomic Alchemy has a 2020 memorandum of understanding with DOE’s Idaho Operations Office to identify a location to develop the project at INL.
Oklo said the activities for Atomic Alchemy’s radioisotope facility builds on the momentum of the DOE’s approval of site characterization activities for Oklo’s Aurora Powerhouse project in Idaho. Atomic Alchemy has its own license through the DOE to perform work on the site, according to an Oklo spokesperson.
The radioisotopes industry is expected to represent a $55.7 billion market opportunity by 2026, according to the consulting firm Research Nester, and the demand is expected to jump significantly over the next decade, Oklo said.
“Oklo aims to address this growing market demand through reliable, U.S.-based radioisotope production facilities that leverage our nuclear reactor and fuel recycling technologies,” Co-Founder and CEO of Oklo Jacob DeWitte said in the press release.
In late February, Oklo acquired Atomic Alchemy for $25 million in an all-stock transaction.
