Disseminated on behalf of Surge Battery Metals Inc.
Electric vehicles (EVs), energy storage systems (BESS), and clean energy technologies depend heavily on lithium. Yet even with fast-rising demand, the United States still produces far less lithium than it needs.
In 2024, U.S. production reached only about 25,000 tonnes of lithium carbonate equivalent (LCE) – roughly 2% of global supply, which totaled around 1.2 million tonnes. That output is enough for only about 158,000 Tesla Model 3 battery packs per year.
The gap between national demand and domestic production keeps widening. Most lithium used in the U.S. comes from imports, mainly from Chile, Australia, and China. This dependency exposes the country to supply disruptions, trade restrictions, and price volatility. If imports are interrupted, the U.S. battery and EV industries could face serious setbacks.
Growing Demand Creates a Structural Deficit
Global demand for lithium is growing quickly. Analysts expect it to quadruple by 2030 as more countries adopt EVs and build large-scale battery storage.
According to Katusa Research (2025), global lithium demand is projected to climb from 1.04 million tonnes in 2024 to 3.56 million tonnes by 2035 — a 3.5× increase. About 83% of that demand will come from EV batteries, while energy storage will account for another 11%.
Source: Katusa Research
Per the International Energy Agency, the U.S. alone may need over 625,000 tonnes of LCE per year by 2030, compared with only a small fraction produced domestically today.
Building new mines takes time – often 10 to 15 years from exploration to commercial production. This long timeline makes it difficult to ramp up supply fast enough to meet demand. Therefore, a lasting shortage is forming. If the U.S. does not accelerate new projects soon, it may depend on imports for decades.
Each EV battery pack uses large amounts of lithium. On average, an EV requires about 60 kilograms of LCE – or 8 to 10 kilograms per kilowatt-hour (kWh) of battery capacity. As automakers build more gigafactories, that adds up quickly.
Katusa’s data also shows that global EV sales jumped from 2 million in 2020 to 11 million in 2024, a 450% surge — and could exceed 60 million units per year by 2040, more than half of all cars sold globally.
Source: Katusa Research
The U.S. is expected to have 440 gigawatt-hours (GWh) of battery manufacturing capacity by 2025 and more than 1,000 GWh by 2030. That growth alone could double or triple national lithium demand.
Introducing the Nevada North Lithium Project
One company aiming to help close this gap is Surge Battery Metals. Its flagship asset, the Nevada North Lithium Project (NNLP) in Elko County, Nevada, is one of the few high-grade lithium clay deposits in the United States.
The project has an inferred resource of 11.24 million tonnes of LCE, grading about 3,010 ppm lithium, making it the highest-grade lithium clay resource in the country.
The project benefits from ideal logistics. NNLP is only 13 kilometers from major power lines and close to all-season roads. The Bureau of Land Management (BLM) has issued a Record of Decision and a Finding of No Significant Impact (FONSI), allowing expanded exploration over 250 acres. These factors make NNLP a leading U.S. candidate for large-scale lithium development.
How NNLP Helps Close the Supply Gap
Surge Battery Metals’ Nevada North project has features that position it well to help close America’s lithium gap. Its high grade and large resource size suggest it could deliver significant output once in production. Higher-grade deposits typically allow lower extraction costs and shorter payback periods.
Because NNLP already has key permits and environmental clearance, it may reach production faster than many early-stage peers. That speed is critical as EV demand accelerates and the U.S. targets more domestic battery manufacturing.
Just as important, NNLP supports U.S. policy goals for supply chain security. Producing lithium domestically reduces reliance on imports, helping stabilize supply and pricing for American automakers. It also supports the Inflation Reduction Act, which requires that most EV battery minerals come from North America or allied countries by 2027.
In March 2025, the U.S. government took direct equity stakes in several lithium ventures, including Lithium Americas’ Thacker Pass, signaling a strong federal commitment to reshoring critical mineral production. This policy backdrop reinforces projects like NNLP as part of a national security priority.
Strengthening NNLP Through Strategic Partnership
Moreover, Surge Battery Metals signed a joint venture letter of intent (LOI) with Evolution Mining (ASX: EVN), allowing Evolution to earn up to 32.5% ownership by funding C$10 million toward the Preliminary Feasibility Study (PFS) for the Nevada North Lithium Project (NNLP). Surge retains majority control and project management, keeping its long-term vision and stakeholder priorities front and center.
This partnership delivers big strategic value. By merging Surge’s lithium expertise and mineral rights with Evolution’s 75% stake in 880 acres of private land – and over 21,000 added acres nearby – the deal significantly increases the JV’s land position. The expanded acreage boosts the overall exploration area and brings in mineral rights in key southern zones, possible clay unit extensions to the north, and territory in historic mining districts and key drainage areas.
Importantly, Evolution’s staged funding speeds up completion of the PFS and helps NNLP reach development milestones while lowering capital risk for Surge shareholders. If Evolution completes its full commitment, it will own 32.5% of the JV, but Surge remains the lead partner. This setup means Surge still directs the project, while using Evolution’s operations know-how and resources. With a larger land package and a joint operating committee, NNLP is well on its way to Tier 1 status and is strengthening its spot in North America’s battery metals supply chain – vital for clean energy and EV growth.
Like any mining venture, NNLP faces challenges. Lithium prices fell nearly 90% from their 2022 peak, but from June to September 2025, they rebounded 24%, showing early signs of recovery.
This cyclical pattern reflects Katusa’s “cost floor” concept — production costs in China and Australia now average around $5,000–6,000 per tonne LCE, while South American and U.S. projects need about $8,000/t to stay profitable. If prices fall near those levels, high-cost mines pause output, tightening supply again and stabilizing prices.
Another factor is resource expansion. NNLP’s current resource is inferred, but the company expects to complete its current drilling program at NNLP by the end of October 2025. Once the results are released, the lithium resource will be upgraded from Inferred to Indicated and Measured categories. This step will strengthen confidence in the deposit’s scale and quality, supporting the upcoming Pre-Feasibility Study (PFS).
Permitting and community engagement also remain important; even in a mining-friendly state like Nevada, water use and land reclamation practices must meet strict environmental standards.
Surge Battery Metals has emphasized sustainable practices, including water recycling and progressive site reclamation, as part of its exploration and development plan.
Competition is growing, too. Lithium projects across South America, Australia, and Canada are advancing quickly. Still, Nevada’s combination of stable governance, established mining laws, and proximity to major battery plants gives U.S. projects like NNLP a strong advantage.
A National View: U.S. Lithium Resources and Reserves
The U.S. is home to some of the world’s largest lithium reserves, but it still underdevelops them. According to the U.S. Geological Survey, global lithium reserves total around 21 million tonnes, with the U.S. holding roughly 12%. Nevada alone hosts the country’s biggest lithium resources, concentrated in the Thacker Pass region and the northern claystone belts – where NNLP is located.
Unlocking these resources is vital. Every new project that moves forward strengthens the domestic supply chain and supports national goals to lead in clean energy technology.
Surge Battery Metals plans to continue advancing NNLP through new drilling campaigns and metallurgical studies in 2025. These programs aim to expand and upgrade resources, optimize extraction processes, and confirm the potential to produce battery-grade lithium carbonate with 99.9% purity. The company is also evaluating potential offtake partnerships with battery and automotive manufacturers.
Analysts and investors will be watching for:
Updated resource estimates and grade expansion
Progress toward pre-feasibility studies
Partnerships or funding deals with strategic investors
Regulatory updates supporting U.S. critical mineral development
Positive results in these areas could accelerate NNLP’s move toward construction and help it become one of the first next-generation lithium clay projects to enter U.S. production.
Powering the U.S. Energy Future
The U.S. faces a widening gap between lithium supply and demand that could slow its clean-energy transition. Katusa Research projects a 400,000-tonne global supply shortfall by 2035, roughly the world’s entire 2020 output – a deficit that could keep prices elevated long term.
Source: Katusa Research
Surge Battery Metals’ Nevada North Lithium Project provides a realistic and timely opportunity to help close that divide. With its high-grade resource, strong economics, strategic location, and environmental focus, NNLP could play a central role in building a stable, self-sufficient lithium supply for the United States.
As the nation races to electrify transportation and decarbonize energy, projects like NNLP will be critical. They are not only about producing lithium – they are about powering the next chapter of American industry and ensuring that the clean-energy future is built on secure, sustainable ground.
New Era Publishing Inc. and/or CarbonCredits.com (“We” or “Us”) are not securities dealers or brokers, investment advisers, or financial advisers, and you should not rely on the information herein as investment advice. Surge Battery Metals Inc. (“Company”) made a one-time payment of $50,000 to provide marketing services for a term of two months. None of the owners, members, directors, or employees of New Era Publishing Inc. and/or CarbonCredits.com currently hold, or have any beneficial ownership in, any shares, stocks, or options of the companies mentioned.
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Forward-looking information is based on several key expectations and assumptions, including, without limitation, that the Company will continue with its stated business objectives and will be able to raise additional capital as required. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended.
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The global carbon market received a strong signal after the International Civil Aviation Organization (ICAO) Technical Advisory Board approved carbon credits under Verra’s VM0051 methodology for use in the Carbon Offsetting and Reduction Scheme for International Aviation.
This decision brings rice methane reduction projects into a major aviation compliance market. It also opens a new demand channel for agricultural carbon credits, especially for airlines seeking eligible offsets.
The move shows growing recognition that agricultural methane cuts can play a bigger role in global climate goals. It also strengthens the position of rice projects, which have long faced challenges in carbon finance.
VM0051, launched in early 2025, supports improved water and crop management in rice farming. It helps reduce greenhouse gas emissions while improving water use, farm efficiency, and farmer benefits.
With CORSIA eligibility now confirmed, rice carbon credits may emerge as a stronger and more mainstream carbon market asset.
Rice Farming Moves Closer to Mainstream Carbon Markets
Rice production has long carried a large climate footprint. Flooded rice fields release methane, one of the most potent greenhouse gases.
Most of these emissions come from Asia, where rice remains central to food systems and rural economies. At the same time, rising food demand could push emissions even higher in the coming decades.
VM0051 Brings Scalable Rice Methane Solutions
This created a clear need for scalable solutions, yet carbon finance in rice remained limited for years. But VM0051 aims to change this.
The methodology allows project developers to reduce emissions through improved water and crop management. Farmers can adopt practices such as alternate wetting and drying, better nitrogen management, shorter cultivation cycles, and lower-emission rice varieties. Some projects may also use innovative approaches, such as methanotrophic bacteria or avoiding residue burning.
These measures cut methane emissions while improving resource efficiency.
CORSIA Expands Demand for Rice Credits
CORSIA eligibility gives these credits a potential compliance buyer base, which changes the commercial outlook significantly. Airlines can use eligible credits to help meet offsetting obligations, provided projects also secure required host country authorization.
This link between aviation and agricultural methane reduction could help move rice carbon projects from a niche activity into a larger market segment.
Inside the New Framework of VM0051
The approval also draws attention to how much the methodology has evolved.
Verra designed VM0051 to replace an older Clean Development Mechanism methodology that was retired in 2023. The newer framework includes stronger safeguards, broader project options, and more rigorous emissions accounting.
Additionality requirements have been strengthened to show projects go beyond normal farming practices.
Dynamic baselines help reflect changing weather conditions. The methodology also requires monitoring of methane, nitrous oxide, and carbon dioxide emissions linked to project activities. This broader accounting matters because carbon markets are placing greater weight on integrity.
Flexible quantification approaches, including biogeochemical models, give developers more options for emissions measurement. Digital MRV tools, including remote sensing and machine learning, can also help improve monitoring and verification.
These features make the methodology more aligned with what today’s market increasingly expects.
Importantly, VM0051 does more than support methane reduction. It recognizes a broader set of practices, including improved fertilizer management, biochar use, reduced biomass burning, and efficient fossil fuel use in operations.
Furthermore, projects must also protect against soil organic carbon losses, an important safeguard in agricultural systems. This wider scope can help developers design stronger projects while improving potential emission reductions.
Credit quality remains central to buyer confidence. In a market shaped by growing scrutiny, methodologies with stronger science and stronger controls tend to attract more attention.
Airlines Could Unlock New Demand for Rice Carbon Credits
The biggest market impact may come from demand. CORSIA eligibility often changes the value proposition of a carbon credit. Access to compliance demand can support liquidity, improve price support, and increase buyer interest.
This is where rice credits may benefit, and countries in South and Southeast Asia could become central to this growth story.
The Verra Registry currently includes eight projects using VM0051, with an estimated annual issuance of more than 1.73 million carbon credits. It remains a relatively small supply base compared with larger project categories in the carbon market.
If airlines begin sourcing these credits, developers may have stronger incentives to expand project pipelines, particularly across major rice-growing economies.
Rice Credits Offer More Than Compliance Value
The appeal goes beyond compliance demand alone. Many buyers increasingly seek credits linked to broader sustainability outcomes. Rice methane projects can offer multiple benefits alongside emissions reductions, including improved water management, lower pollution, and stronger farmer livelihoods.
Some projects may also support women’s access to training and financial services, adding social value that could strengthen buyer interest.
These features may help position rice credits not only as compliance instruments but also as attractive assets in the wider voluntary carbon market.
Market participants will also watch whether CORSIA eligibility supports stronger pricing for these credits.
Historically, compliance-linked credits often receive more market attention than credits limited to voluntary demand. If this pattern holds, VM0051 credits could see stronger commercial interest going forward.
Methane Reduction Gains a Larger Role in Carbon Markets
The approval also fits a larger trend in climate markets. Methane has moved closer to the center of climate strategy. Policymakers, investors, and corporate buyers increasingly view methane reduction as one of the fastest ways to slow warming in the near term.
Thus, this shift has raised interest in projects focused on methane abatement.
Much of this attention has centered on oil and gas, waste, and livestock. Rice cultivation now gains importance because agriculture has often lagged behind other sectors in the carbon market scale.
Forestry, renewable energy, and engineered carbon removal have captured much of the attention. Agricultural methodologies have often faced challenges tied to measurement, fragmentation, and project implementation. And VM0051 significantly addresses some of these barriers through stronger science and digital tools.
The ICAO decision, furthermore, may help reinforce confidence that agriculture can supply credible credits on a larger scale. It may also encourage greater innovation in agricultural carbon methodologies beyond rice.
Developers, registries, and policymakers will likely watch closely to see whether this model expands into broader methane-focused opportunities.
A Turning Point for Rice-Based Carbon Finance
For years, rice carbon credits had strong potential but weak market momentum. Projects faced technical hurdles, limited buyer familiarity, and funding constraints. This approval shifts that outlook.
By adding VM0051 credits to the Carbon Offsetting and Reduction Scheme for International Aviation under the ICAO, a clearer link is created between compliance demand and agricultural methane cuts.
This could accelerate project growth, investment, and adoption of improved rice practices, while pushing agricultural credits closer to mainstream carbon markets.
Future expansion depends on supply, demand, and approvals, but the signal is clear: rice methane credits are entering a larger market phase.
Global renewable energy reached a major turning point in 2025. For the first time in history, it generated more electricity than coal, marking a shift in how the world produces power.
Let’s take a closer look at the details and how this milestone impacts the clean energy transition landscape as well as carbon markets.
Clean Energy Hits Historic Milestone in Global Electricity Mix
According to energy think tank Ember, renewables’ share of global electricity overtook coal’s share in 2025. Renewables now supply more than a third of global power, while coal’s share has fallen below one‑third.
Ember notes that solar and wind together met about 99% of new global electricity demand growth in 2025. This helped push renewables ahead of coal despite rising energy use worldwide.
This milestone reflects years of investment in clean energy and signals a structural change in the global power system. It also shows that renewable technologies are now scaling fast enough to compete with traditional fossil fuels.
Solar Power Drives Record Growth in Clean Electricity
Solar energy led the global expansion in renewables. The Ember report stated,
“Record solar growth meant clean power sources grew fast enough to meet all new electricity demand in 2025, thereby preventing an increase in fossil generation. This was the first year since 2020 without an increase in electricity generation from fossil fuels and only the fifth year without a rise this century.”
The data shows that solar generation grew by about 636 terawatt‑hours (TWh) in 2025, the largest annual increase of any single electricity source ever. This surge made solar the main driver of new electricity supply.
Solar output increased by around 30% in 2025, reflecting rapid deployment and falling costs. It also played a key role in meeting rising demand.
Ember’s analysis indicates that solar alone met about 75% of the net increase in global electricity demand in 2025. Wind energy also contributed strongly, helping renewables meet almost all of the year’s additional demand.
The continued drop in solar costs has supported this growth. Over the past decade, solar module prices have fallen by more than 80%, making it one of the cheapest sources of new electricity in many markets.
Asia Powers the Shift: China and India Drive the Transition
The shift toward renewables has been driven largely by Asia’s biggest economies, per Ember data. China remains the largest contributor to global solar growth. It accounted for about 55% of the increase in solar generation in 2025, reflecting its large-scale investments in clean energy infrastructure.
The United States contributed around 14% of global solar growth, while India also expanded its renewable capacity significantly.
A key development in 2025 was the decline in fossil fuel generation in both China and India at the same time. This has not happened in many years.
Globally, coal generation dropped by 63 TWh in 2025, driven by reduced output in these major economies. This decline played a critical role in allowing renewables to overtake coal.
The transition in these countries has a global impact. Together, China and India account for a large share of global electricity demand and emissions.
In 2025, the two countries together represented roughly one‑fifth of global electricity demand and more than one‑fifth of global power‑sector CO₂ emissions, according to Ember’s annual electricity review and supporting analyses.
Emissions Peak? Clean Power Starts to Bend the Curve
Despite rising electricity demand, emissions from the power sector are beginning to stabilize. Global electricity demand increased by about 2.8% in 2025. However, power-sector emissions fell slightly, even with the higher demand.
According to Ember’s 2025 annual electricity review, power‑sector emissions fell slightly in 2025 despite a rise in global electricity demand. The analysis indicates that, without the growth of solar and wind, emissions from the power sector would have been about 236 MtCO₂ higher than they actually were.
This shows how renewable energy is helping offset emissions from growing energy use. The data further shows that the average kilowatt-hour of electricity produced globally resulted in 458 gCO₂e in 2025, about 2.7% less than 471 gCO₂e in 2024.
The International Energy Agency also projects a steady decline in carbon intensity. Global electricity emissions intensity is expected to fall from 445 grams of CO₂ per kilowatt-hour (gCO₂/kWh) in 2024 to about 400 gCO₂/kWh by 2027.
Source: IEA
This represents an average annual reduction of 3.6%, highlighting gradual progress toward cleaner electricity systems.
The Grid Test: Can Power Systems Keep Up With Renewables?
The rapid growth of renewables brings new challenges for power systems. Solar and wind are variable sources, meaning their output depends on weather conditions.
By 2030, variable renewables are expected to supply nearly 30% of global electricity, roughly double current levels. This will require more flexible and resilient power grids.
Battery storage is playing a central role in this transition. Global battery deployment is growing quickly as costs fall.
Battery costs dropped by about 45% in 2025, to a record low of about $70 per kilowatt-hour. Meanwhile, installed storage capacity additions increased by 46% during the same period, reaching about 247 gigawatt-hours in 2025. These systems help store excess solar energy during the day and release it when demand rises.
Current battery capacity can already shift about 14% of solar generation from midday to other times of the day. This improves grid stability and reduces reliance on fossil fuel backup.
Corporate Action Supports Clean Energy Growth
Large companies are also helping drive renewable energy adoption. Microsoft has committed to using 100% renewable electricity for its operations and aims to become carbon negative by 2030. Google is investing heavily in solar and wind projects worldwide, including partnerships in Asia to support clean energy supply for data centers.
Corporate demand for renewable energy is growing as companies set net-zero targets and seek to reduce their carbon footprints. This trend supports further investment in renewable capacity and helps scale clean technologies.
Market Implications for Carbon Credits and Investment
The rise of renewables has important implications for carbon markets and clean energy investment. As renewable generation increases, the need for fossil fuel-based power declines. This can reduce emissions and affect demand for certain types of carbon credits.
At the same time, the transition creates new opportunities. Projects that support grid stability, energy storage, and renewable integration may generate additional carbon credits.
Investors are also shifting focus toward clean energy infrastructure. Renewable energy projects are becoming more competitive as costs fall and policy support strengthens.
The milestone of renewables overtaking coal provides strong evidence that the energy transition is accelerating.
A Turning Point for Global Energy
The fact that renewables have surpassed coal in global electricity generation marks a major turning point. It shows that clean energy is no longer a niche solution. Instead, it is becoming the foundation of the global power system.
Solar and wind are now growing fast enough to meet rising demand while reducing dependence on fossil fuels. Challenges remain, especially in grid integration and storage. However, continued investment and innovation are helping address these issues.
For policymakers, investors, and businesses, the message is clear: The global energy transition is moving from ambition to reality.
As renewable energy continues to expand, it will play a central role in reducing emissions, supporting economic growth, and building a more sustainable energy system.
Oklo Inc. gained strong market attention after announcing a strategic partnership with NVIDIA and Los Alamos National Laboratory. The collaboration aims to accelerate the development of nuclear infrastructure, expand AI-enabled research, and push forward next-generation nuclear fuel innovation.
Investors reacted quickly. The company’s stock rose about 15%, closing at $72.41 and continuing to climb to $78.43 in pre-market trading. Over the past week, shares surged roughly 33%, reflecting rising optimism around the intersection of nuclear energy and artificial intelligence.
Source: Yahoo Finance
A Strategic Alliance Powering the Future
The agreement significantly brings together three complementary strengths.
Oklo contributes its advanced sodium fast reactor technology
NVIDIA adds its powerful AI computing systems
Los Alamos provides deep expertise in nuclear materials science and fuel research.
This combination aims to create a new class of reliable, mission-critical energy systems designed for modern infrastructure.
Inside the Plan: AI, Fuels, and Nuclear Innovation
Using AI to Improve Nuclear Fuel: A major focus of the partnership is applying AI to nuclear science. The companies will build AI models based on physics and chemistry to test and improve nuclear fuels, especially plutonium-based fuels. These models will help make the process faster and more accurate.
Better Materials and Safer Fuel: The collaboration will also work to improve materials and the way nuclear fuel is made. By combining AI with lab research, the partners aim to make fuel safer and more efficient. They will also study how to produce power and keep the grid stable for large energy use.
Connecting Nuclear Power with AI Systems: Another key goal is to connect nuclear reactors directly with high-performance computing systems. This includes early-stage testing that could change how energy and computing work together in the future.
Why AI Needs Nuclear—and Vice Versa
The idea of “nuclear-powered AI factories” sits at the center of this partnership. These facilities would run advanced AI workloads using dedicated nuclear power instead of relying on traditional electricity grids. This concept addresses a growing problem. Data centers require massive, constant energy, and demand continues to rise rapidly.
Nuclear energy offers a strong solution because it provides stable, round-the-clock power with low emissions. At the same time, AI can improve nuclear operations. It can analyze real-time data, detect anomalies, predict maintenance needs, and optimize reactor performance. These capabilities can enhance efficiency and reduce operational risks.
However, challenges remain. AI models must meet strict safety standards in nuclear environments. Data quality, cybersecurity, and model reliability are critical concerns. For now, AI will support human decision-making rather than replace it in safety-critical systems.
At the center of Oklo’s strategy is its Pluto reactor, designed to use recycled nuclear material such as surplus plutonium. This approach not only produces energy but also helps reduce nuclear waste. The reactor was selected under the U.S. Department of Energy’s Reactor Pilot Program, highlighting its importance.
Oklo is also working to deploy its Aurora power plant at Idaho National Laboratory, targeting operations before the end of 2027. In the near term, the company faces key milestones, including meeting Department of Energy deadlines tied to reactor development and facility readiness.
Financially, Oklo remains in a strong position. The company holds about $2.5 billion in cash and carries no debt, giving it flexibility to invest in growth. It plans to spend around $400 million annually over the next two years to support expansion and technology development.
Rising Demand and the Bigger Energy Shift
Demand for clean, reliable power is rising quickly, especially from large technology companies. Oklo has already signed an agreement to supply 150 megawatts of electricity to a data center project backed by Meta Platforms by around 2030.
This deal shows how major tech firms are actively seeking carbon-free energy solutions to support their operations.
The partnership reflects a broader shift in the global energy landscape. Artificial intelligence is driving a surge in electricity consumption, forcing industries to rethink power generation. Nuclear energy is gaining attention as a dependable, low-carbon solution, while AI is helping modernize nuclear systems.
Despite strong momentum, challenges still exist. Regulatory approvals, technical complexity, and safety requirements could slow deployment. While market enthusiasm remains high, real-world scaling will likely take time.
In the end, the collaboration between Oklo, NVIDIA, and Los Alamos highlights a powerful trend. Clean energy and advanced computing are becoming deeply connected. If successfully executed, this partnership could play a key role in shaping the future of both industries.