Oklo

Oklo Inc. is an American advanced nuclear-energy company founded in 2013 by Jacob and Caroline DeWitte. Based in Santa Clara, California, the company is developing compact sodium-cooled fast reactors intended to supply electricity directly to customers such as data centers, industrial facilities, remote communities, and military installations. Its name refers to the Oklo natural nuclear reactor site in Gabon, where naturally occurring self-sustaining fission reactions took place roughly 1.7 billion years ago. Oklo’s principal reactor concept is the Aurora Powerhouse, a small modular fast reactor designed to produce approximately 75 megawatts of electrical output. The design uses liquid sodium cooling and metallic high-assay low-enriched uranium fuel. It draws on technology and operating experience associated with the Experimental Breeder Reactor II, a sodium-cooled fast reactor operated at Idaho National Laboratory from 1964 to 1994. Oklo emphasizes the Aurora design’s passive and inherent safety characteristics, including strongly negative reactivity feedback that is intended to reduce reactor power as temperatures rise without relying solely on operator action or active safety equipment. The company’s commercial model differs from that of a conventional reactor vendor. Rather than only selling reactor systems, Oklo plans to develop, build, own, and operate power plants and sell electricity under long-term arrangements. The company has targeted customers with substantial, continuous energy requirements, particularly hyperscale data centers and industrial operations that may be difficult to serve through ordinary grid connections. Publicly announced commercial discussions and agreements have included arrangements involving Meta and Switch, as well as letters of intent involving Diamondback Energy and Wyoming Hyperscale. Oklo’s original Aurora concept was a much smaller heat-pipe-cooled microreactor producing about 1.5 megawatts. The U.S. Nuclear Regulatory Commission denied the company’s initial combined construction and operating license application in January 2022, citing insufficient information in the application. The denial was described as permitting a future resubmission, and Oklo subsequently continued pre-application engagement and regulatory-readiness work with the NRC. The company has also pursued a separate development pathway with the U.S. Department of Energy at Idaho National Laboratory, where it has planned an initial Aurora demonstration and related pre-construction activity. Beyond power generation, Oklo is pursuing nuclear-fuel recycling. The company has said that recycling could recover usable material from spent fuel and support a more circular fuel supply for its fast reactors. In 2025, it announced plans for a fuel-recycling facility in Oak Ridge, Tennessee. It has also explored the use of surplus plutonium and other nuclear materials as potential fuel sources, although the timing and commercial realization of such projects depend on government approvals, definitive agreements, financing, and technical development. Radioisotope production is another part of Oklo’s strategy. Radioisotopes can be used in medical imaging and cancer treatment, industrial inspection and process control, nuclear batteries, radioisotope power systems, and fusion research. In 2024, Oklo partnered with Idaho-based Atomic Alchemy and later announced an acquisition. The acquisition was completed in March 2025. Through Atomic Alchemy and associated projects, Oklo has pursued isotope-production infrastructure, including proposed facilities connected with Idaho National Laboratory and a pilot-scale pool-type reactor project in Texas. Oklo became publicly traded in 2024 through a business combination with AltC Acquisition Corp., a special-purpose acquisition company founded and led by Sam Altman. The transaction was announced at an implied valuation of approximately $850 million and generated approximately $306 million in gross proceeds. Altman had also served as Oklo’s board chair, but stepped down in April 2025 to avoid a potential conflict of interest during discussions between Oklo and OpenAI concerning a possible energy-supply agreement. Oklo remains an early-stage, execution-dependent company whose prospects depend on licensing, fuel availability, construction, financing, customer contracting, and the successful demonstration of its reactor and isotope technologies.

Oklo was founded in 2013 by Jacob and Caroline DeWitte to develop a new generation of compact nuclear power systems. The company chose a name associated with the Oklo natural reactor in Gabon, a geological site where fission reactions occurred naturally in the distant past. From its early work, Oklo focused on fast-fission technology rather than the conventional light-water reactor designs that dominate commercial nuclear power. The company’s initial reactor concept was a small heat-pipe-cooled microreactor with an electrical output of approximately 1.5 megawatts. Oklo sought to use a compact architecture and factory-oriented construction approach to serve customers needing reliable power outside conventional large-grid arrangements. Its intended customers included remote communities, industrial sites, military installations, and data centers. Over time, Oklo revised and enlarged the concept into the Aurora Powerhouse, a sodium-cooled fast reactor designed for approximately 75 megawatts of electrical output. Aurora is influenced by the Experimental Breeder Reactor II, a sodium-cooled fast reactor operated at Idaho National Laboratory between 1964 and 1994. Oklo has highlighted the predecessor’s shutdown heat-removal testing and the safety behavior associated with negative reactivity feedback. In the Aurora concept, metallic HALEU fuel is used with liquid sodium as the coolant. The fast-reactor configuration is also connected to Oklo’s interest in using and recycling fuel materials more efficiently than a once-through nuclear-fuel cycle. Regulatory approval has been a central challenge in the company’s development. On January 6, 2022, the Nuclear Regulatory Commission denied Oklo’s initial combined construction and operating license application for the then-proposed Aurora design. The NRC cited gaps in information supplied during the review. The decision did not permanently bar a future application, and Oklo continued pre-application discussions, design work, and regulatory-readiness activities. Later design materials, including principal design criteria, entered regulatory review, while the company worked on a separate Department of Energy-supported demonstration route at Idaho National Laboratory. Oklo’s commercial strategy has increasingly centered on owning and operating its reactors rather than treating the company solely as a technology licensor or equipment supplier. Under this model, Oklo would develop plants, secure fuel, construct and operate the facilities, and sell electricity to customers through long-term contracts. The strategy is particularly directed at high-load customers such as data centers and large industrial operations. The company has publicly described a substantial prospective customer pipeline and announced arrangements or letters of intent involving Meta, Switch, Diamondback Energy, and Wyoming Hyperscale. These commitments remain subject to project development, regulatory approvals, financing, and construction. The company’s corporate-finance history shifted in 2023 and 2024. In 2023, Oklo announced plans to combine with AltC Acquisition Corp., a special-purpose acquisition company established and led by Sam Altman. The proposed transaction carried an announced implied valuation of about $850 million. The combination closed on May 10, 2024, and Oklo received approximately $306 million in gross proceeds. Its shares began trading publicly under the symbol OKLO. The transaction gave Oklo access to public capital markets while also exposing it to the reporting, financing, and execution pressures associated with a public development-stage company. Sam Altman, who had served as chairman of Oklo’s board and was an early financial supporter of the company, left that position in April 2025. The stated reason was to avoid a conflict of interest ahead of discussions between Oklo and OpenAI about a potential energy-supply agreement. The change occurred as demand for new electricity sources from artificial-intelligence data centers increased public interest in advanced nuclear developers. Oklo expanded beyond reactor electricity through a fuel-recycling strategy. It has proposed recovering useful nuclear materials from spent fuel and developing recycling infrastructure, including a planned facility in Oak Ridge, Tennessee. The company has also explored opportunities connected with surplus plutonium and other government-controlled nuclear materials. Such projects require specialized facilities, government participation, licensing, financing, and definitive commercial agreements, so they represent a development program rather than an established operating business. Radioisotopes became another strategic area. In May 2024, Oklo announced a partnership with Atomic Alchemy, an Idaho company working on radioisotope production. Oklo later announced an acquisition and completed it in March 2025. The combined strategy is intended to produce isotopes for medical diagnostics and cancer treatment, industrial testing and process control, radioisotope power systems, nuclear batteries, and fusion research. Proposed projects have included the Meitner-1 isotope-production facility at Idaho National Laboratory and the Groves Isotope Test Reactor near Lockhart, Texas. These projects have followed changing regulatory and Department of Energy pathways, illustrating the permitting complexity of Oklo’s broader nuclear platform. By 2025, Oklo was pursuing an Aurora demonstration with Department of Energy oversight at Idaho National Laboratory, while continuing engagement with the NRC for a future commercial licensing process. The company has stated an ambition to reach reactor criticality during the development schedule and to begin commercial operations later in the decade. As of the available reference material, Oklo remained an active but pre-commercial advanced nuclear company. Its future depends on proving reactor performance, obtaining federal approvals, securing suitable fuel, building facilities on schedule, converting prospective customer agreements into binding contracts, and raising sufficient capital for a capital-intensive industry.

• 2025

  Atomic Alchemy acquisition closes

  [2]Oklo official websiteoklo.com

  Oklo completed its acquisition of Atomic Alchemy, adding radioisotope capabilities to its nuclear platform.

• 2025

  Aurora pre-construction advances at Idaho National Laboratory

  [1]Oklo Inc.en.wikipedia.org

  Oklo advanced pre-construction activities for an Aurora demonstration project at Idaho National Laboratory under a Department of Energy pathway.

• 2024

  Oklo becomes publicly traded

  [1]Oklo Inc.en.wikipedia.org

  The AltC transaction closed and Oklo began trading publicly under the ticker OKLO.

• 2024

  Atomic Alchemy partnership is announced

  [2]Oklo official websiteoklo.com

  Oklo began a strategic relationship with Atomic Alchemy to pursue radioisotope production.

• 2023

  SPAC combination is announced

  [1]Oklo Inc.en.wikipedia.org

  Oklo announced plans to become public through a combination with AltC Acquisition Corp.

• 2022

  Initial NRC license application is denied

  [1]Oklo Inc.en.wikipedia.org

  The NRC denied Oklo’s initial combined construction and operating license application, citing insufficient information in the submission.

• 2013

  Oklo is founded

  [1]Oklo Inc.en.wikipedia.org

  Jacob and Caroline DeWitte founded Oklo to develop compact fast-fission nuclear power systems.

Oklo positions itself as an advanced nuclear company combining small, fast-fission power plants with an owner-operator electricity business, nuclear-fuel recycling, and radioisotope production. Its target proposition is compact, dependable, low-carbon power for customers with large or off-grid energy needs.

• Small modular fast reactor

  Aurora Powerhouse

  The Aurora Powerhouse is Oklo’s flagship reactor concept. It is designed as a compact sodium-cooled fast reactor with an intended electrical output of approximately 75 megawatts. The design uses metallic HALEU fuel and is intended for customers such as data centers, industrial facilities, remote communities, and military bases. Oklo’s owner-operator model would have the company develop and operate Aurora plants and sell their electricity under long-term arrangements. The design remains subject to regulatory review, demonstration, construction, and licensing requirements.

• Nuclear-fuel recycling · 2025

  Fuel-recycling facilities

  Oklo is developing a fuel-recycling business intended to recover useful nuclear materials and support fuel supplies for advanced reactors. The company has announced plans for a first recycling facility in Oak Ridge, Tennessee and has explored the use of surplus plutonium in cooperation with government programs and external technology partners. The business remains dependent on technical validation, government agreements, regulatory approvals, financing, and facility construction.

• Radioisotope production · 2025

  Atomic Alchemy

  Atomic Alchemy is Oklo’s radioisotope-focused business following the acquisition completed in March 2025. Its target applications include medical imaging, cancer treatment, industrial non-destructive testing, process control, radioisotope thermoelectric generators, nuclear batteries, and fusion research. Associated projects have included proposed isotope-production reactors and facilities in Idaho and Texas, subject to applicable regulatory and development processes.

• Radioisotope production reactor

  Groves Isotope Test Reactor

  The Groves Isotope Test Reactor is a pilot-scale pool-type reactor project associated with Oklo’s radioisotope program. Planned near Lockhart, Texas, it is intended to provide a test platform for radioisotope-production technology before larger commercial facilities are developed.

• 2025

  Pursue a Department of Energy demonstration pathwayStrategy

  Background

  Advanced reactor developers face lengthy commercial licensing timelines, while the Department of Energy operates specialized national laboratory sites.

  Action taken

  Oklo advanced its Aurora project at Idaho National Laboratory under Department of Energy oversight and a reactor pilot initiative.

  Aftermath

  The pathway was intended to demonstrate the technology before a future commercial NRC licensing process.

  Source

• 2024

  Acquire Atomic AlchemyM&A

  Background

  Oklo sought to extend its business beyond electricity generation into radioisotope production.

  Action taken

  Oklo announced an acquisition of Atomic Alchemy after beginning a strategic partnership with the company earlier in 2024.

  Aftermath

  The acquisition was completed in March 2025 and became part of Oklo’s isotope-production strategy.

  Source

• 2023

  Announce a public-market combination with AltC Acquisition Corp.M&A

  Background

  Oklo sought additional capital and public-market access while developing a capital-intensive nuclear technology platform.

  Action taken

  The company agreed to combine with AltC Acquisition Corp., a special-purpose acquisition company associated with Sam Altman.

  Aftermath

  The transaction closed in 2024 and Oklo became publicly traded under the symbol OKLO.

  Gross proceeds. $306 million (May 10, 2024)

  Source

• 2022

  Continue regulatory engagement after the initial license denialStrategy

  Background

  The NRC denied Oklo’s initial combined construction and operating license application for an earlier Aurora configuration because the agency considered the submitted information insufficient.

  Action taken

  Oklo continued NRC pre-application activities, design development, and readiness work while pursuing a later licensing pathway.

  Aftermath

  The company shifted emphasis toward further regulatory preparation and a Department of Energy-supported demonstration route at Idaho National Laboratory.

  Source

• 2025

  Sam Altman leaves Oklo chairmanship[1]Oklo Inc.en.wikipedia.org

  Leadership change

  Sam Altman stepped down as chairman to avoid a potential conflict of interest while Oklo and OpenAI discussed a possible energy-supply agreement.

• 2025

  Oklo completes acquisition of Atomic Alchemy[2]Oklo official websiteoklo.com

  M&A

  Oklo completed its purchase of Atomic Alchemy, expanding its activities into radioisotope production and related nuclear applications.

• 2025

  Oklo advances an Idaho National Laboratory demonstration[1]Oklo Inc.en.wikipedia.org

  Product launch · Regulation

  Oklo began pre-construction activity associated with its Aurora project at Idaho National Laboratory under a Department of Energy development pathway.

• 2025

  Oklo selected for the Department of Energy reactor pilot initiative[1]Oklo Inc.en.wikipedia.org

  Regulation · Product launch

  Oklo was among advanced-nuclear developers selected for a Department of Energy reactor pilot initiative intended to accelerate demonstration projects at federal sites, including Idaho National Laboratory.

• 2025

  Oklo completes Atomic Alchemy acquisition[1]Oklo Inc.en.wikipedia.org

  M&A

  Oklo completed its purchase of Atomic Alchemy in March 2025.

• 2025

  Oklo enters the DOE Reactor Pilot Program[1]Oklo Inc.en.wikipedia.org

  Regulation · Product launch

  Oklo was selected for the U.S. Department of Energy’s advanced-reactor pilot initiative, supporting work at DOE sites including Idaho National Laboratory.

• 2025

  Oklo begins pre-construction work at Idaho National Laboratory[1]Oklo Inc.en.wikipedia.org

  Product launch

  The company began pre-construction activities for its first planned Aurora Powerhouse at Idaho National Laboratory and continued regulatory readiness work.

• 2024

  Oklo merges with AltC Acquisition Corp. and becomes publicly traded[1]Oklo Inc.en.wikipedia.org

  M&A · Other

  Oklo completed its business combination with Sam Altman-backed AltC Acquisition Corp., providing approximately $306 million in gross proceeds and listing the company under the ticker OKLO.

• 2024

  Oklo completes merger with AltC Acquisition Corp.[1]Oklo Inc.en.wikipedia.org

  M&A

  The business combination was completed on May 10, 2024. The transaction generated reported gross proceeds of $306 million.

• 2024

  Oklo partners with Atomic Alchemy on radioisotopes[1]Oklo Inc.en.wikipedia.org

  Other

  Oklo announced a partnership with Idaho-based Atomic Alchemy to develop radioisotope-related activities.

Showing the 10 most recent.

1. 1Oklo Inc.en.wikipedia.org
2. 2Oklo official websiteoklo.com
3. 3Oklo (NYSE: OKLO) Launches Fresh $1 Billion Stock Sale As Shareholder Dilution Reaches 58% Since SPAC Debutforeignpolicyjournal.com