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Oklo

Public (NYSE: OKLO)Founded 2013🇺🇸Santa Clara, California
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CEO

Jacob DeWitte

Data verified as of Sep 1, 2026

Summary

Oklo is developing fast-fission power plants under its Aurora product line while building a vertically integrated nuclear business around power sales, fuel recycling, and radioisotopes. Aurora units are designed to produce 15-75 MWe and run on fresh, recycled, or down-blended fuel, targeting customers such as data centers, industrial sites, military facilities, utilities, and remote communities. Its first plant, Aurora-INL at Idaho National Laboratory, is advancing under DOE's Reactor Pilot Program - the DOE approved its Preliminary Documented Safety Analysis on June 11, 2026, leaving the final Documented Safety Analysis as the last safety-basis step before authorization. Oklo is deepening vertical integration through the June 2026 acquisitions of Oak Ridge precision manufacturer ARMEC and sodium-systems engineering firm Creative Engineers, plus its May 2026 selection for DOE's Surplus Plutonium Utilization Program, while Atomic Alchemy builds U.S. isotope supply around the Groves test reactor in Lockhart, Texas, which reached first criticality on August 5, 2026.

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Main Products

Aurora Powerhouse

Aurora Powerhouse

In Development

Oklo's fast-fission powerhouse product line is designed for build-own-operate deployment, targeting customers that want firm clean power in a smaller footprint than traditional large reactors.

Oklo is advancing Aurora-INL under DOE's Reactor Pilot Program with construction underway. The NRC approved its Principal Design Criteria topical report in May 2026 and the DOE approved its Preliminary Documented Safety Analysis on June 11, 2026, leaving only the final Documented Safety Analysis before authorization. The company targets first deployment in late 2027-2028 with subsequent NRC licensing for commercial operations.

Electrical Output15-75 MWe
Fuel StrategyFresh, recycled, or down-blended fuel
Commercial Traction12 GW Switch master agreement
Target First UnitLate 2027-2028 (Aurora-INL)
Fuel Recycling

Fuel Recycling

In Development

Oklo is developing an advanced fuel center to recycle used nuclear fuel and fabricate metal fuel for Aurora and other fast-reactor applications.

The first phase is a Tennessee fuel recycling facility; Oklo has completed a licensing project plan with the NRC and is in pre-application engagement, with metal fuel production targeted for the early 2030s.

Investment RoadmapUp to $1.68B
Target Fuel OutputMetal fuel by early 2030s
Jobs800+ planned
Regulatory StatusNRC pre-application engagement

Atomic Alchemy Isotope Platform

Early Commercialization

Oklo's isotope business combines the Idaho Radiochemistry Laboratory, a planned pilot reactor in Texas, and a future multi-reactor foundry to supply critical medical, industrial, research, defense, and space isotopes.

A March 2026 NRC materials license enables initial commercial sales from Idaho. The DOE approved the Nuclear Safety Design Agreement for the Groves Isotopes Test Reactor in Lockhart, Texas on March 17, 2026, approved its Documented Safety Analysis - the facility's final safety-basis document - on July 1, 2026, and granted startup authorization on July 23, 2026 under the Reactor Pilot Program, the final step that clears Groves to load fuel, run startup tests, and proceed toward first criticality. Oklo is advancing toward first criticality at Groves while pursuing longer-term VIPR foundry plans.

NRC LicenseGranted March 2026
Groves Test ReactorReached first criticality (Aug 5, 2026); ramping toward isotope production
Initial SalesIdaho Radiochemistry Laboratory
Foundry PlanUp to 4 VIPR reactors
VIPR Capacity~15 MWth each

What's Next

Ramp Groves to full power and start isotope production

With first criticality achieved on August 5, 2026, Oklo's next step is low-power testing and ascension to full power at the Groves Isotope Test Reactor in Lockhart, Texas, ramping toward R&D-scale isotope production over the following year. On its August 7, 2026 earnings call, management said it now expects Oklo's first isotope revenue in early 2027, and that it is more likely to come from the NRC-licensed Idaho Radiochemistry Laboratory than from Groves.

2026-2027

Carry Aurora-INL through final safety review and construction

With the DOE's Preliminary Documented Safety Analysis approved on June 11, 2026 - the third of four major Reactor Pilot Program authorization steps - and a November 2025 binding Siemens Energy contract closing out major long-lead power-conversion equipment procurement, Oklo's near-term focus is securing the final Documented Safety Analysis, the last safety-basis document before DOE authorizes operation, while completing construction at Idaho National Laboratory ahead of fuel loading and first power. As of this update (re-checked August 24, 2026), the final Documented Safety Analysis has not yet been approved; on its August 7, 2026 earnings call Oklo raised its full-year 2026 capital-expenditure guidance to $400-500 million to accelerate Aurora-INL procurement and grid-interconnection work while reaffirming a 2028 commercial start-up target.

2026-2027

Deploy the first Aurora powerhouse

Oklo is targeting late 2027-2028 for its first Aurora deployment at Idaho National Laboratory, which would make it one of the first commercial advanced fast-fission plants in the U.S. Management reaffirmed the 2028 commercial start-up target on its August 7, 2026 earnings call.

Late 2027-2028

Resolve the PJM interconnection dispute for the Ohio campus

After PJM Interconnection dropped a 750 MW mixed-technology project (150 MW nuclear, 300 MW fuel cells, 300 MW gas) tied to the planned 1.2 GW Pike County, Ohio Clean Energy Campus from its interconnection study cycle, Oklo filed an emergency complaint with FERC on August 28, 2026 asking for reinstatement with its original queue position; PJM was directed to respond by September 4, 2026. Oklo says an unresolved delay could push the Meta-backed campus back by at least 14 months and raise development costs.

2026

Build out the advanced fuel center

The Tennessee recycling facility is intended to become the first phase of Oklo's broader advanced fuel center, with metal fuel production targeted for the early 2030s after regulatory review. A June 2026 MOU with TRISO fuel maker Standard Nuclear adds Oklo's first third-party offtake pathway for recycled material.

Early 2030s

Track Record

1 of 1 announced date hit

Bring the Groves test reactor to first criticality

Target 2026 · Resolved Aug 5, 2026

Groves reached first criticality at 9:19 p.m. ET on August 5, 2026, less than a year after groundbreaking - the fifth reactor to reach criticality under the DOE's Reactor Pilot Program and the first to do so on private land.

Hit

Operations & Revenue

StatusPre-revenue

Still pre-revenue at meaningful scale ($1.21M Q2 2026 revenue and a $48.5M net loss, widened from $24.7M a year earlier), with no commercial power plants operating yet. Aurora-INL is under construction and is advancing through DOE's Reactor Pilot Program safety-basis path - the DOE approved its Principal Design Criteria topical report (May 2026) and Preliminary Documented Safety Analysis (June 11, 2026), the third of four major Reactor Pilot Program steps toward construction authorization (after the Other Transaction Agreement and Nuclear Safety Design Agreement), leaving only the final Documented Safety Analysis before DOE authorizes operation; Siemens Energy is under a binding contract for the plant's power conversion system. Oklo's separate Groves Isotope Test Reactor in Texas reached first criticality on August 5, 2026, becoming the company's first reactor to reach that milestone. On its August 7, 2026 Q2 earnings call, Oklo reaffirmed a 2028 commercial start-up target for Aurora-INL, raised full-year 2026 guidance for cash used in operations to $120-150 million (from $80-100 million) and capital expenditures to $400-500 million (from $350-450 million) to accelerate Aurora-INL procurement and grid-interconnection work, and said first isotope revenue is now expected in early 2027 from the Idaho Radiochemistry Laboratory rather than the newly critical Groves reactor. Oklo is deepening vertical integration via the June 2026 ARMEC and Creative Engineers acquisitions, was selected in July 2026 for a DOE-led $200 million nuclear-for-AI initiative alongside Microsoft and Nvidia, and formalized its executive team (five officers effective July 27, 2026) as it targets first Aurora deployment in late 2027-2028 while scaling its power, fuel-cycle, and isotope business lines in parallel. Separately, on August 28, 2026 Oklo filed an emergency complaint with FERC after PJM Interconnection dropped a 750 MW mixed-technology project (150 MW nuclear, 300 MW fuel cells, 300 MW gas) tied to its planned 1.2 GW Pike County, Ohio campus from its interconnection study cycle, warning that an unresolved delay could push the Meta-backed campus back by at least 14 months.

Pipeline & Contracts

Power Purchase Agreements & Prepayments

Oklo's core business model is to build, own, and operate Aurora powerhouses and sell electricity or heat under long-term agreements. Current commercial traction includes a 12 GW master power agreement with Switch, a prepayment agreement with Meta for a planned 1.2 GW Ohio campus, and additional LOIs with Equinix, Diamondback Energy, and Prometheus.

Initial Isotope Sales

Atomic Alchemy's March 2026 NRC materials license enables commercial isotope sales and processing activity from the Idaho Radiochemistry Laboratory. On its August 7, 2026 earnings call, management guided that first isotope revenue is expected in early 2027 from the Idaho Radiochemistry Laboratory rather than the newly critical Groves reactor in Texas, which is expected to ramp to R&D-scale isotope production over the following year.

Manufacturing & Engineering Services

Oklo's June 2026 acquisitions of ARMEC and Creative Engineers now generate Oklo's only reported commercial revenue ahead of power or isotope sales: $1.21M in Q2 2026 ($0.8M engineering/consulting, $0.17M manufacturing/fabrication, $0.24M other), which management says both businesses fund out of positive free cash flow while also supporting Aurora-INL engineering, procurement, and sodium-systems work.

Fuel-Cycle & Manufacturing Infrastructure

Oklo is developing fuel fabrication and recycling capabilities that can secure fuel supply for Aurora deployments and potentially support broader domestic advanced-reactor infrastructure over time. Two June 2026 acquisitions add in-house engineering and manufacturing depth: Oak Ridge, Tennessee manufacturer ARMEC brings fabrication, machining and welding capacity, and Creative Engineers, Inc. adds specialized sodium, NaK and lithium liquid-metal systems expertise for the Aurora sodium-cooled fast reactor.

Key Metrics

Employees

205+

Est. Annual Revenue

Pre-revenue at meaningful scale ($1.21M Q2 2026 revenue, ahead of estimates - $0.8M engineering/consulting, $0.17M manufacturing/fabrication, and $0.24M other, all from the ARMEC and Creative Engineers acquisitions rather than power or isotope sales; $48.5M net loss, widened from $24.7M a year earlier). Management guided on the August 7, 2026 earnings call that first isotope revenue is expected in early 2027 from the Idaho Radiochemistry Laboratory rather than the newly critical Groves reactor, which is expected to ramp to R&D-scale production over the following year.

Cash & Securities

$3.0B (Q2 2026: $1.6B cash & equivalents plus $1.4B marketable securities, up from $2.54B in Q1 2026), including ~$1.9B raised through 2026 ATM equity programs

Market Cap

~$7.51B (Aug 31, 2026; ~$40.41/share, down from ~$7.94B in mid-August amid an ongoing SMR-sector selloff and post-earnings pullback, off a 52-week high near $194)

Aurora Output

15-75 MWe

Timeline

2026Meta prepayment agreement

Oklo signs a prepayment agreement with Meta to advance a planned 1.2 GW power campus in Pike County, Ohio.

2026Aurora-INL enters DOE pilot path

Oklo signs a DOE OTA for its first Aurora reactor at INL and receives approval of the Nuclear Safety Design Agreement under the Reactor Pilot Program.

2026First NRC-issued license

The NRC grants Atomic Alchemy a materials license, enabling initial isotope sales from Oklo's Idaho Radiochemistry Laboratory.

2026NVIDIA and Los Alamos fuel collaboration

Oklo, NVIDIA, and Los Alamos National Laboratory announce a collaboration to use AI and high-performance computing to validate plutonium-bearing fuels, supporting Oklo's fast-reactor fuel work and nuclear-powered AI data centers.

2026NRC approves Aurora Principal Design Criteria

The NRC approves Oklo's Principal Design Criteria topical report for the Aurora powerhouse in Idaho on an accelerated schedule (less than half the traditional review timeline), clearing it to be referenced in future license applications.

2026DOE selects Oklo for Surplus Plutonium fuel program

The U.S. Department of Energy selects Oklo on May 26 - alongside Exodys Energy, SHINE Technologies, Standard Nuclear, and Flibe Energy - for advanced negotiations under the Surplus Plutonium Utilization Program. Oklo will partner with European fast-reactor developer newcleo to convert U.S. surplus plutonium into fuel for the Aurora powerhouse, broadening its fuel-supply pathway alongside HALEU.

2026Acquires ARMEC to bring manufacturing in-house

On June 4, 2026 Oklo completes the acquisition of ARMEC, an Oak Ridge, Tennessee precision manufacturing and engineering firm founded in 2002 with roughly 40 engineers, fabricators, machinists and technical staff serving nuclear, energy and defense markets. The deal adds in-house fabrication, machining and welding capability to support Oklo's advanced reactor and fuel-manufacturing programs and tighten control over its deployment timeline.

2026DOE approves Aurora-INL Preliminary Documented Safety Analysis

On June 11, 2026 the DOE's Idaho Operations Office approves the Preliminary Documented Safety Analysis (PDSA) for the Aurora powerhouse at Idaho National Laboratory under the Reactor Pilot Program - a detailed review of the plant's hazard analysis, accident analysis, safety controls and design commitments. It leaves the final Documented Safety Analysis as the last safety-basis document before authorization. CEO Jacob DeWitte called it an important milestone that helps establish a foundation for future Aurora deployments.

2026Signs fuel-recycling MOU with Standard Nuclear

On June 16, 2026 Oklo signs a memorandum of understanding with TRISO fuel maker Standard Nuclear to collaborate on nuclear fuel recycling and advanced fuel manufacturing - Oklo's first third-party offtake pathway for recycled material. The companies will jointly evaluate specifications, commercial terms and delivery schedules for reprocessed uranium and uranium-transuranic streams from Oklo's planned Oak Ridge, Tennessee recycling facility, which could feed Standard Nuclear's TRISO fuel; both firms were among five selected by the DOE for the Surplus Plutonium Utilization Program.

2026Signs HALEU supply LOI with Centrus, EPC MOU with Kiewit

On June 18, 2026 Oklo and Centrus Energy sign a letter of intent for Centrus to supply enough domestic high-assay low-enriched uranium (HALEU) to power up to five Aurora powerhouses for multiple years, with deliveries beginning in 2029 - one of the first large-scale commercial HALEU supply agreements, and one that could include prepayments from Oklo to support fuel for its planned 1.2 GW Clean Energy Campus in southern Ohio. Oklo separately signs an MOU with Kiewit Nuclear Solutions to support engineering, procurement and construction (EPC) planning for the initial Aurora deployments at the site.

2026Acquires Creative Engineers to deepen sodium-systems expertise

On June 30, 2026 Oklo acquired Creative Engineers, Inc. (CEI), a chemical process engineering firm founded in 1996 with deep expertise in sodium, sodium-potassium (NaK), and lithium liquid-metal systems, adding roughly 20 engineers, fabricators and welders. CEI's portfolio spans landmark U.S. sodium reactor programs including the Fast Flux Test Facility, Fermi 1, and Experimental Breeder Reactor II, directly supporting Oklo's Aurora sodium-cooled fast reactor and extending the vertical-integration push begun with the June 4 ARMEC acquisition. Financial terms were not disclosed.

2026DOE approves Groves test reactor safety analysis

On July 1, 2026 the DOE approved the Documented Safety Analysis for Oklo's Groves Isotope Test Reactor in Lockhart, Texas - the facility's final safety-basis document - under the Reactor Pilot Program. With the analysis approved, the project moves into DOE's final pre-startup phase of a readiness review and startup approval, after which Groves can load fuel and begin startup testing. Oklo is targeting first criticality at Groves in July 2026, positioning it among the first privately funded advanced reactors on privately owned land with commercially sourced fuel and systems.

2026Joins DOE-led $200M nuclear-for-AI initiative

On July 21, 2026 the Trump administration selects Oklo and X-Energy for a $200 million Department of Energy-led initiative, alongside prior partners Microsoft and Nvidia, to accelerate the design, licensing, and construction of new nuclear reactors for AI data centers; $60 million of the program is earmarked over three years for national laboratories and universities including the University of Texas at Austin. Shares of Oklo rose as much as 9.9% in after-hours trading on the news.

2026DOE grants Groves reactor startup authorization

On July 23, 2026 the DOE granted startup authorization for Oklo's Groves Isotope Test Reactor in Lockhart, Texas - the final step in the Reactor Pilot Program's authorization process - clearing the facility and team to bring in fuel, run startup tests, and proceed toward first criticality under its startup plan. Oklo said Groves went from groundbreaking to startup authorization in just over 10 months, completing engineering, construction, commissioning, operating-program development, personnel training, and DOE readiness reviews, and framed it as a repeatable model for privately funded advanced reactors on private land with commercially sourced fuel and systems.

2026Groves test reactor reaches first criticality

Oklo's Groves Isotope Test Reactor in Lockhart, Texas reaches first criticality at 9:19 p.m. ET on August 5, 2026, less than a year after groundbreaking, becoming the fifth reactor to reach criticality under the DOE's Reactor Pilot Program and the first to do so on private land.

2026Board names five executive officers

On July 22, 2026 Oklo's board appoints five existing leaders as executive officers effective July 27, 2026 - Chief Product Officer Alexandra Renner, Chief of Staff John Hanson, General Counsel and Corporate Secretary Vivek Narayanadas, Senior Vice President of Engineering Erik Lassen, and VP of Accounting and Controller Michael Dixon - formalizing the leadership team as the company scales across its powerhouse, fuel, recycling, and isotope business lines. No new compensation or equity grants accompanied the appointments.

2026Reports Q2 2026 results, reaffirms 2028 Aurora-INL target

On August 7, 2026 Oklo reported second-quarter revenue of $1.21 million (all from the ARMEC and Creative Engineers acquisitions, not from power or isotope sales), ahead of analyst estimates, and a net loss of $48.5 million, widened from $24.7 million a year earlier, ending the quarter with $3.0 billion in cash and marketable securities. On the earnings call management reaffirmed a 2028 commercial start-up target for the Aurora-INL powerhouse, raised full-year 2026 guidance for cash used in operations to $120-150 million (from $80-100 million) and capital expenditures to $400-500 million (from $350-450 million) to accelerate Aurora-INL procurement and grid-interconnection work, and said first isotope revenue is now expected in early 2027 from the Idaho Radiochemistry Laboratory rather than the newly critical Groves reactor.

2026Groves build touted as fastest modern U.S. reactor construction

In mid-August 2026 CEO Jacob DeWitte publicized that the Groves Isotope Test Reactor went from groundbreaking to first criticality in 229 days of active construction (roughly 11 months from a September 2025 groundbreaking to the August 5, 2026 criticality milestone). Coverage framed it as the fastest transition from greenfield to criticality for a full-scale, privately funded and privately sited U.S. reactor under modern environmental and DOE regulatory requirements - though not the fastest reactor build in history, since some early Atomic Age and Cold War-era reactors were built faster.

2026Files emergency FERC complaint over Ohio interconnection

On August 28, 2026 Oklo files an emergency complaint with the Federal Energy Regulatory Commission after PJM Interconnection drops a 750 MW mixed-technology project - 150 MW of advanced nuclear, 300 MW of fuel cells, and 300 MW of gas-fired generation - tied to Oklo's planned 1.2 GW Clean Energy Campus in Pike County, Ohio from its interconnection study cycle. Oklo asks FERC to order PJM to reinstate the project with its original queue position and says PJM was directed to respond by September 4, 2026, warning that the removal could delay the Meta-backed campus by at least 14 months and raise development costs.

2025Atomic Alchemy acquisition

Oklo acquires Atomic Alchemy, expanding into radioisotopes and isotope-production infrastructure.

2025Breaks ground on Aurora-INL

Oklo breaks ground at Idaho National Laboratory for its first Aurora powerhouse and continues targeting commercial operations around 2027-2028.

2025Tennessee fuel center announced

Oklo announces an Oak Ridge advanced fuel center, beginning with a fuel recycling facility backed by up to $1.68 billion of planned investment.

2025PDC topical report accepted

The NRC accepts Oklo's Principal Design Criteria topical report for review under an accelerated timeline.

2025Signs binding Siemens Energy contract for Aurora power conversion system

On November 19, 2025 Oklo and Siemens Energy sign a binding contract for the power conversion system of the Aurora powerhouse at Idaho National Laboratory, covering a condensing SST-600 steam turbine, an SGen-100A industrial generator, and associated auxiliaries - closing out major long-lead equipment procurement ahead of Oklo's targeted 2028 startup.

2024Goes public via SPAC

Oklo completes its business combination with AltC Acquisition Corp. and begins trading on the NYSE as OKLO.

2022NRC application denied

The NRC denies Oklo's first application without prejudice, pushing the company toward a revised licensing strategy.

2020NRC application

Becomes the first advanced fission company to submit a custom combined license application to the NRC.

2019DOE site use permit

Oklo receives a DOE site use permit at Idaho National Laboratory for its first Aurora deployment.

2013Founded

Oklo is founded to develop clean, reliable, and affordable advanced fission energy systems.

Funding

Cumulative disclosed raise · dated rounds

$1B$2B$3B2025$2.8B raised
RoundDateAmountInvestorsSource
AltC recapitalization2024$259M net assetsAltC Acquisition Corp.
Follow-on public offering2025$460M grossPublic market investors
ATM equity issuances2025-2026$2.04B grossPublic market investors

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