Oklo Completes Acquisition of Atomic Alchemy to Strengthen U.S. Radioisotope Supply Chain
Oklo Inc., an advanced nuclear technology company, has announced the successful closure of its acquisition of Atomic Alchemy Inc., a leading innovator in radioisotope production. This strategic acquisition positions of it to enhance its capabilities in creating a reliable domestic supply chain for high-value radioisotopes that are critical to sectors such as healthcare, research, and defense. The deal also brings synergies to it’s nuclear energy and fuel recycling businesses.
A Key Acquisition to Strengthen Market Presence
The acquisition of Atomic Alchemy opens new avenues for it, expanding its business and market reach into critical sectors like biotech, pharmaceuticals, defense, and semiconductors. This move is not only a diversification strategy but also allows it to tap into the growing demand for radioisotopes, positioning itself as a leader in the U.S.-based production of these essential materials.
Atomic Alchemy’s proprietary technologies, such as its Versatile Isotope Production Reactor (VIPR®), are pivotal in creating a resilient, domestic radioisotope supply chain. By leveraging these advanced technologies, it aims to address key challenges in the supply of radioisotopes for life-saving medical applications, industrial uses, and defense, all of which have seen increasing demand.
Expanding Capabilities and Addressing Supply Shortages
One of the most pressing needs in the radioisotope market is the shortage of life-saving medical radioisotopes. The acquisition of Atomic Alchemy significantly enhance it’s ability to meet these challenges head-on. The two companies plan to jointly develop specialized radioisotope production capabilities, focusing on overcoming current supply shortages and ensuring a consistent, reliable flow of these critical materials.
Moreover, Atomic Alchemy’s existing technologies offer a unique opportunity to integrate radioisotope production with its nuclear energy and fuel recycling businesses. This synergy will not only streamline production processes but also improve the overall efficiency of nuclear fuel recycling, further strengthening it’s business in both the nuclear energy and radioisotope sectors.
Accelerating Revenue and Growth Opportunities
Atomic Alchemy is poised to generate initial revenue even before completing its first radioisotope production reactors, accelerating Oklo’s path toward new revenue streams. By leveraging Atomic Alchemy’s existing capabilities, Oklo anticipates faster market entry, giving it a competitive advantage in the radioisotope space.
The acquisition also enables Oklo to tap into the $55.7 billion market opportunity for radioisotopes expected by 2026, as reported by Research Nester. This growth is driven by the rising demand for radioisotopes across various industries, including healthcare, energy, and technology. As the global supply struggles to keep pace with this demand, particularly with aging reactor infrastructure and a fragmented global supply chain, Oklo’s U.S.-based production capacity will become increasingly vital.
Oklo Completes Acquisition of Atomic Alchemy to Strengthen U.S. Radioisotope Supply Chain
Enhancing Semiconductor Capabilities with Neutron Transmutation Doping
Another key benefit of the acquisition is the incorporation of Atomic Alchemy’s cutting-edge technology in Neutron Transmutation Doping (NTD) of silicon. NTD is a process that uses neutrons from a nuclear reactor to convert silicon atoms into phosphorus, which is essential for semiconductor production. This “gold-standard” process enables precise and uniform doping of semiconductor materials at scale, offering Oklo an opportunity to enter and transform the semiconductor market.
As demand for semiconductors continues to rise, particularly for advanced technologies such as AI and 5G, this technology positions Oklo to play a key role in the development of next-generation electronics and materials.
A Strategic Move for a Secure U.S. Radioisotope Supply
The acquisition of Atomic Alchemy aligns with Oklo’s vision to address the growing need for a secure, domestic radioisotope supply. By focusing on cost-effective production and ensuring the availability of these essential materials, Oklo aims to reduce U.S. dependency on foreign sources and offer a reliable supply chain to U.S.-based companies commercializing innovative radioisotope applications.
“Oklo aims to address growing market demand for radioisotopes through reliable, U.S.-based radioisotope production facilities that leverage our power and fuel recycling technologies,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “With this acquisition complete, we are excited to expand our capabilities in commercial radioisotope production.”
Details of the Acquisition
Oklo acquired Atomic Alchemy for $25 million in an all-stock transaction, which was finalized on February 28th, 2025. Under the terms of the acquisition, Atomic Alchemy will operate as a subsidiary of Oklo and continue to function under its existing brand name. The acquisition is expected to have a minimal immediate impact on Oklo’s operating costs and 2025 outlook, with more details to be shared during the Full Year 2024 Company Update call.
Looking Ahead: Future Growth and Strategic Initiatives
With the completion of this acquisition, Oklo is well-positioned to expand its footprint in the rapidly growing radioisotope market. The integration of Atomic Alchemy’s technologies, along with Oklo’s established strengths in nuclear energy and fuel recycling, will create new opportunities for innovation and growth across multiple industries. Oklo’s continued focus on developing sustainable and secure solutions for the nuclear energy and radioisotope sectors will further strengthen its position as a leader in advanced nuclear technologies.
As the market for radioisotopes expands, Oklo’s ability to produce these critical materials domestically will be crucial in meeting the increasing demand from healthcare, research, defense, and semiconductor industries. The strategic acquisition of Atomic Alchemy marks the beginning of a new chapter for Oklo, one that promises to drive significant advancements in both nuclear energy and the broader radioisotope market.
About Oklo Inc.: Oklo Inc. is developing fast fission power plants 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.
About Atomic Alchemy Inc.: Atomic Alchemy Inc. is pioneering a resilient U.S.-based radioisotope supply chain to meet essential demands across healthcare, industry, research, and defense. With its proprietary VIPR® technology, Atomic Alchemy is building the first scalable production facility to provide a reliable, sustainable source of high-value radioisotopes. Using a vertically integrated model and fuel recycling, in partnership with Oklo, Atomic Alchemy is transforming isotope production to address global shortages, support critical applications, and strengthen national security.
