- Oklo and Switch have signed one of the largest corporate power
agreements in history, a 12-gigawatts non-binding Master Power
Agreement.
- This milestone agreement demonstrates a shared commitment to
advancing sustainable energy solutions, supporting data center
growth, and driving industry-wide decarbonization.
- Oklo’s Aurora powerhouses will provide reliable, clean energy
for Switch’s cutting-edge AI, cloud, and enterprise data center
infrastructure.
Oklo Inc. (NYSE: OKLO) (“Oklo” or the “Company”), an advanced
nuclear technology company, and Switch, a premier provider of AI,
cloud and enterprise data centers, have signed a non-binding Master
Power Agreement (“Master Agreement”) to deploy 12 gigawatts of Oklo
Aurora powerhouse projects through 2044. This is one of the largest
corporate clean power agreements ever signed. The Master Agreement
establishes a framework for collaboration, with the expectation
that individual binding agreements will be finalized as project
milestones are reached.
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Image: Oklo and Switch
Under the Master Agreement, Oklo will develop, construct, and
operate powerhouses to provide power to Switch across the United
States through a series of power purchase agreements. This enduring
relationship over several decades will help accelerate Oklo’s early
powerhouse deployments and also position the Company to scale in
response to a growing demand pipeline. This Master Agreement
enables Oklo to leverage Switch’s best-in-class execution while
developing the financial and infrastructure model for scaling
advanced nuclear.
The timescale of this Master Agreement underscores Switch and
Oklo’s commitment to meeting artificial intelligence’s growing
electricity demands with clean, sustainable power. The Company
believes that Switch’s industry-leading data centers, which support
the computing needs of some of the world’s largest companies, are
ideally positioned to handle AI workloads well into the future.
“The relationship with Oklo underscores our
commitment to deploying advanced nuclear power at a transformative
scale for our data centers, further enhancing our offerings of one
of the world’s most advanced data center infrastructures to current
and future Switch clients,” said Rob Roy, Founder and CEO of
Switch. “By utilizing Oklo’s powerhouses, we aim to ensure that
Switch remains the leader in data center sustainability while
supporting our vision of energy abundance.”
Since January 2016, all Switch data centers have been powered by
100% renewable energy, nearly 984 million kilowatt-hours of green
power annually. This Master Agreement with Oklo supports Switch’s
mission to build efficient, sustainable infrastructure while
bolstering the voluntary market for renewable and clean energy
sources.
“We are excited to collaborate with Switch on
this historic agreement,” said Jacob DeWitte, Co-Founder and CEO of
Oklo. “Rob Roy and the Switch team share the vision we have for
nuclear energy’s role in powering artificial intelligence and
providing the world with energy abundance. Oklo expects to benefit
enormously from Switch’s record of turning visions into reality.
The lifespan of this Master Agreement will allow us to iterate and
evolve with Switch, from development to deployment to scaling. We
believe that working with Switch will not only accelerate our early
powerhouses but also accelerate our ability to scale by
demonstrating customer demand for decades to come.”
This Master Agreement highlights Oklo’s business model of
simplifying clean energy access by selling power, not power plants.
It offers customers a direct, flexible pathway to clean, reliable,
and affordable advanced nuclear energy. Aurora powerhouses are
planned to support growing energy demands as they are deployed in
the future.
About Switch: Switch, founded in 2000 by CEO Rob Roy,
stands at the forefront as the leading data center campus designer,
builder and operator. As the AI, cloud and enterprise data center
experts, Switch provides the most modular, scalable and sustainable
data centers to the most discerning clients. The company offers a
comprehensive, future-proof portfolio ranging from highly dense
liquid cooled AI to hyperscale cloud and the industry’s highest
rated and most-secure enterprise data centers. To learn more, visit
www.switch.com and follow Switch on LinkedIn, Facebook and X.
About Oklo Inc.: Oklo Inc. is developing advanced nuclear
power plants that run on nuclear waste to provide clean, reliable,
and affordable energy at scale. Oklo received a site use permit
from the U.S. Department of Energy, was awarded fuel material from
Idaho National Laboratory, submitted the first advanced fission
custom combined license application to the U.S. Nuclear Regulatory
Commission, and is developing advanced fuel recycling technologies
in collaboration with the U.S. Department of Energy and U.S.
National Laboratories.
Forward-Looking Statements
This press release includes statements that express Oklo’s
opinions, expectations, objectives, beliefs, plans, intentions,
strategies, assumptions, forecasts or projections regarding future
events or future results and therefore are, or may be deemed to be,
“forward-looking statements.” The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intends,” “may,”
“might,” “plan,” “possible,” “potential,” “predict,” “project,”
“should,” “would” or, in each case, their negative or other
variations or comparable terminology, and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking. These
forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
press release and include statements regarding our intentions,
beliefs or current expectations concerning, among other things, the
timing, goals and benefits of the Master Agreement, results of
operations, financial condition, liquidity, prospects, growth,
strategies and the markets in which Oklo operates. Such
forward-looking statements are based on information available as of
the date of this press release, and current expectations, forecasts
and assumptions, and involve a number of judgments, risks and
uncertainties.
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 deployment of
Oklo’s powerhouses; the risk that Oklo is pursuing an emerging
market, with no commercial project operating, regulatory
uncertainties; the potential need for financing to construct
plants, market, financial, political and legal conditions; the
effects of competition; changes in applicable laws or regulations;
the risk that the Master Agreement fails to produce the expected
benefits; and the outcome of any government and regulatory
proceedings and investigations and inquiries.
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 U.S. Securities and Exchange Commission. The
forward-looking statements contained in this press release and in
any document incorporated by reference 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, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20241218939186/en/
Media and Investor Contact for Oklo: Bonita Chester, Head
of Communications and Media at media@oklo.com
Investor Contact: Sam Doane, Director of Investor
Relations at investors@oklo.com
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