Oklo and Siemens Energy Sign Binding Contract to Expedite Procurement of the Power Conversion System for Commercial Power Plant

SANTA CLARA, Calif.--(BUSINESS WIRE)--Oklo Inc. (NYSE: OKLO) and Siemens Energy have signed a binding contract for the design and delivery of the power conversion system for Oklo’s Aurora powerhouse. The agreement authorizes Siemens Energy to begin engineering and design work to expedite procurement of long-lead components and initiate the manufacturing process for the power conversion system. This partnership on key components combines Oklo’s expertise in advanced fission technology with Siemens Energy’s industry-leading steam turbine and generator systems to deliver clean, reliable electricity using proven industrial equipment.

Under the contract, Siemens Energy will conduct detailed engineering and layout activities for a condensing SST-600 steam turbine, an SGen-100A industrial generator, and associated auxiliaries to support Oklo’s first advanced reactor, the Aurora powerhouse at Idaho National Laboratory (INL). The power conversion system represents one of the major long-lead procurements required to commence power operations of the Aurora powerhouse. Key procurement areas include fuel, site, and the plant power conversion system and, since Aurora-INL has fuel material and the site allocated, this contract with Siemens Energy for the power conversion system helps to de-risk supply chain and production timeline challenges and demonstrates concrete execution capability.

“Siemens Energy and Oklo will develop the best solution for power supply,” said Tobias Panse, Senior Vice President, Steam Turbines and Generators, Siemens Energy. “We offer best-in-class solutions for reliable power supply with the highest efficiency. Oklo’s small modular reactor solutions are ideal for companies with large power demand. This agreement brings our partnership to life.”

“We are thrilled to be working with Siemens Energy, a global industry leader and key strategic partner, to bring the Aurora powerhouse online,” said Alex Renner, Oklo’s Chief Product Officer. “Aurora’s inherent safety allows us to use proven, commercially available power systems like Siemens Energy’s turbine technology. That design philosophy shortens timelines, lowers costs, and turns advanced nuclear into a deployable product. We believe this is a historic step forward for the advanced nuclear industry—a real-world purchase that demonstrates progress toward deployment and operation.”

The collaboration showcases mutual benefits: Oklo accelerates powerhouse deployment while Siemens Energy expands its leadership in delivering turbine technology for next-generation clean energy projects. This partnership establishes a foundation for long-term collaboration, enabling future scaling of advanced powerhouses beyond the Aurora-INL and reinforcing both companies’ shared commitment to innovation and dependable, low-carbon power for global customers.

About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, 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 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.

Forward-Looking Statements

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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 development and deployment of Oklo’s powerhouses; the risk that Oklo is pursuing an emerging market with no commercial project operating and regulatory uncertainties; risks related to acquisitions, divestitures, or joint ventures we may engage in; the need for financing to construct plants, which remain subject to market, financial, political, and legal conditions; risks related to an inability to raise additional capital to support our business and sustain our growth on favorable terms; the effects of competition; risks related to accessing high-assay low-enriched uranium, plutonium, and other fuels at acceptable costs (including recycled fuels); risks related to our supply chain; risks related to power purchase agreements; risks related to human capital; risks related to our intellectual property; risks related to cybersecurity and data privacy; changes in applicable laws or regulations, including tariffs; the outcome of any government and regulatory proceedings and investigations and inquiries; and the other factors set forth in our documents we have filed with the U.S. Securities and Exchange Commission (the “SEC”).

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 SEC. The forward-looking statements contained in this press release 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 to reflect events or circumstances after the date of this presentation, except as may be required by law.