Oklo Inc. (NYSE:OKLO) shares are trading higher on Thursday. The company’s shares may be moving higher in response to its acquisition target Atomic Alchemy which signed a Memorandum of Understanding (MOU) with Zeno Power. Here’s what you need to know.
What To Know: The goal of the MOU is for Atomic Alchemy to provide Zeno Power with radioisotopes like strontium-90 and americium-241 to power Zeno’s Radioisotope Power Systems (RPSs).
These systems generate energy from the heat emitted by radioisotopes, powering critical applications such as space exploration and national defense.
“We are thrilled to be working with Atomic Alchemy and Oklo to advance our fuel supply chain efforts and recover radioisotopes that otherwise would be waste,” said Harsh S. Desai, Chief Commercialization Officer at Zeno Power.
“This partnership aims to expand access to critical isotopes, accelerating our work to meet the growing demand for reliable, persistent energy solutions from the ocean floor to the lunar surface.”
Previously, Oklo has proposed to acquire Atomic through an all-stock transaction.
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OKLO Price Action: At the time of writing, Oklo shares are trading 15.8% higher at $24.27, according to data from Benzinga Pro.
Image: Courtesy of Oklo, Inc.
