Nuclear Fission
U.S. Senate passes bill to support advanced nuclear energy deployment
The U.S. Senate passed the ADVANCE Act, a bill to boost nuclear energy by streamlining permits and offering incentives for advanced nuclear reactors. The bill, supported by both parties, aims to decarbonize power and ensure reliable electricity. It reduces regulatory costs, establishes prizes for next-gen reactors, and speeds up site licensing. The bill, which previously passed the House, now awaits President Biden's signature. Critics urge caution over safety concerns with new reactor technologies.
Oklo SPAC: Sam Altman interview on why he's backing micronuclear
Oklo, a startup focusing on advanced nuclear fission microreactors, announced its plans to go public through a merger with special purpose acquisition company (SPAC) AltC Acquisition Corp. The SPAC was co-founded by OpenAI CEO Sam Altman, who also serves as the chairman of Oklo's board. The deal is expected to close by early 2024 and could raise $500 million for Oklo.
The funds raised will be used to enhance Oklo's supply chains and pilot manufacturing facilities. The company is working on its Aurora microreactor, which could operate for as long as a decade with fresh or recycled fuel. The goal is to make nuclear energy more accessible and affordable.
In an interview, Altman explained his bet on energy alongside AI, stating that the future depends on the cost of energy and intelligence being lowered. He also stated his belief in nuclear energy as a means to meet increasing global energy demands. Altman has also invested in other nuclear projects, such as the nuclear fusion startup Helion.
Oklo, founded in 2013, intends to offer smaller nuclear reactors that provide consistent energy, targeting customers like data centers, utilities, defense facilities, remote communities, factories, and industrial sites. Despite facing regulatory hurdles in the past, the company remains optimistic about its progress and ability to transform the economics of nuclear energy.