Oklo signs LOI to supply 50 megawatts of power to Diamondback Energy

Oklo and Diamondback Energy signed a non-binding letter of intent, LOI, to collaborate on a 20-year Power Purchase Agreement. The LOI signed by Diamondback outlines its intent to enter into a 20-year PPA with Oklo. The proposed agreement focuses on engaging Oklo’s Aurora powerhouses to supply reliable and emission-free electricity to Diamondback’s operations in the Permian Basin. According to the terms of the LOI, Oklo intends to license, build, and operate powerhouses capable of generating 50 MW of electric power to Diamondback E&P LLC, a wholly owned subsidiary of Diamondback near Midland, Texas.