American nuclear power company Oklo and Swedish company Blykalla are entering into a strategic partnership to accelerate the development of next-generation nuclear reactors.
Oklo is investing approximately $5 million to become one of the main investors as Blykalla raises new capital.
The collaboration between publicly listed Oklo (NYSE:OKLO) and Blykalla is one of the first transatlantic partnerships within the advanced nuclear reactor sector. The companies will share technology, coordinate supplier procurement, and exchange regulatory knowledge between the US and Sweden.
— By collaborating on suppliers, material data, and licensing processes, we can shorten time to deployment and continue focusing on delivering reliable, clean electricity to customers, comments Oklo’s CEO Jacob DeWitte.
Blykalla develops a compact lead-cooled reactor called SEALER, with a capacity of 55 megawatts – sufficient to supply electricity to a medium-sized Swedish city. The reactor builds on over 25 years of research and is designed to automatically shut down in case of problems, without requiring human intervention.
Oklo develops sodium-cooled reactors with a capacity of up to 75 megawatts. The company targets the American market and aims to deliver electricity to industries, the defense sector, and data centers.
Both companies’ reactors are significantly smaller than traditional nuclear power plants and represent a new generation of nuclear power with passive safety systems that do not require human intervention.
Growing electricity demand drives development
— Oklo and Blykalla share the same practical view on how to bring this new technology to market. By purchasing components together and conducting joint research, we can save both time and money, says Blykalla’s CEO Jacob Stedman.
Through the agreement, the companies will share knowledge about materials and components and make joint purchases from suppliers to reduce prices and shorten delivery times. Oklo may also directly supply certain components to Blykalla.
The partnership comes as society’s electricity demand is growing rapidly. AI development and new data centers require large amounts of electricity while the automotive industry invests in electric vehicles and factories transition from fossil fuels to electricity.
Oklo has previously signed agreements with industrial companies Siemens, Korea Hydro & Nuclear Power, Liberty Energy, and ABB for delivery of turbines, control systems, and electrical connections.
Blykalla is a Swedish company that develops small nuclear reactors for industries. Their SEALER reactor has an output of 55 megawatts and is cooled with lead instead of water. The technology is based on 25 years of research and is considered by international assessors to be the most advanced in Europe when it comes to new reactor types.
The company collaborates with major industrial companies such as German energy company Uniper, Swedish-Swiss engineering group ABB, and German pump manufacturer KSB. The goal is to deliver Europe's first modern small modular reactor to provide electricity to data centers, AI development, and industries.
Oklo is an American publicly traded company that develops reactors cooled with liquid sodium. The reactors can provide up to 75 megawatts and is the first in the US to have received site permits from authorities. Oklo has also submitted the first application to build and operate a new type of reactor in the United States.
The company also works with technology that can recycle old nuclear fuel and convert nuclear waste into new energy. Their customers include industry, data centers, and the US Department of Defense.