OKLO Inc. said they will be recycling over 94,000 tons of used nuclear fuel, bringing in 800 jobs to the area.

OAK RIDGE, Tenn. — Governor Bill Lee made an appearance in Oak Ridge on Thursday to announce a new company setting down roots in Tennessee.

“What’s happening here is not just about Tennessee, this is about a new nuclear industry that is crucial for the development and the future – continued future – of this country,” he said.

OKLO Inc. is the company behind the new facility. The company aims to recycle used nuclear fuel to create a domestic supply chain of fuel. 

OKLO said bringing their company to Oak Ridge was an easy decision to make.

“It was frankly pretty exciting for us to say, ‘hey, this is where we do it,'” Said Jacob Dewitte, CEO and Co-Founder of OKLO, “It’s a wonderful history to build on as a history buff myself, and a nerd for nuclear history. And you couldn’t ask for a better state that doesn’t just have a history, but a living legacy and excellence to build on.” 

Leaders from the local, state and federal level were in attendance, including Senators Marsha Blackburn and Bill Hagerty and Representative Chuck Fleischmann. 

They said adding recycled fuel to the mix of nuclear industry in Oak Ridge is a huge improvement for American-based nuclear.

“Through new technologies, through innovation, then being able to repurpose that like OKLO is doing, this opens a whole new world of opportunity,” said Senator Marsha Blackburn. 

Dewitte said this project will only help the nuclear renaissance.

“We’re putting it to work, we’re going to turn waste into watts, we’re going to help cut costs not just for what we’re doing but for what others are doing as well and ultimately that should translate to more abundant more affordable power. That also allows us to build a secure U.S. supply chain around nuclear fuel that has never existed before.”

While other state officials said this solidifies Tennessee’s place in nuclear history.

“We’re not becoming the hub in this nation. Tennessee IS the nuclear energy hub in the United States of America,” said State Senator Ken Yager. 

OKLO said the facility will be built at the K-25 Heritage Center site, it will invest about $1.7 Billion into the structure. Dewitte expects around 800 jobs to be generated for the facility. OKLO’s Oak Ridge site is scheduled to begin operating in the early 2030s.