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Oklo invests $1.7bn in nuclear recycling plant in Tennessee

US-based Oklo will build the country’s first privately funded nuclear fuel recycling centre in Oak Ridge, investing $1.7bn and creating over 800 jobs.

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Nuclear technology company Oklo has announced the selection of Oak Ridge, Tennessee, as the location for a spent fuel processing centre representing an investment of nearly $1.7bn. The project will establish the first privately funded nuclear recycling facility in the United States and will create over 800 direct jobs. The selected site, covering 247 acres, is located at the Oak Ridge Heritage Center, a zone historically linked to the US nuclear industry.

A project backed by Tennessee’s Nuclear Energy Fund

This initiative falls under the Nuclear Energy Fund, a $50mn support programme included in Tennessee’s 2023–2024 state budget, with an additional $40mn allocated over the 2024 and 2025 legislative sessions. Oklo becomes the fifth company to benefit from this scheme, aimed at encouraging the establishment of nuclear firms within the state. The project was also recommended by the Education and Workforce subgroup of the Tennessee Nuclear Energy Advisory Council, a 22-member body.

Oklo plans to recycle spent fuel from the existing US nuclear fleet to provide a domestic supply of advanced fuels for the next generation of reactors. The goal is to support a long-term industrial ecosystem capable of meeting growing demand from energy-intensive sectors and advanced infrastructure.

Oak Ridge, a historic and strategic nuclear hub

Oak Ridge was selected in part due to its proximity to research institutions such as Oak Ridge National Laboratory (ORNL), and its longstanding role in US nuclear development. The site also benefits from a regulatory and institutional environment favourable to advanced industry. The Tennessee Valley Authority (TVA) has confirmed its support for the project, which aligns with its efforts to promote technologies needed to expand power infrastructure, particularly for artificial intelligence applications.

Roane County, where the site is located, has undergone extensive environmental remediation in recent years, managed by the Department of Energy (DOE), enabling new industrial development. Local officials expect the project to attract further investment into the regional nuclear corridor.

Expected impacts on employment and the industrial ecosystem

The creation of over 800 skilled positions will be supported by expanded partnerships with Tennessee’s academic institutions, aiming to strengthen local technical capabilities. Oklo’s presence could also drive demand for a domestic supply chain in materials and technology linked to advanced nuclear fuel.

The company stated that its investment is intended to build a complete private-sector fuel recycling, processing, and distribution ecosystem. This approach is expected to contribute to securing strategic fuel supplies for the US nuclear industry over the coming decades.

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