Oklo, Inc., an advanced nuclear energy company, said this week it plans to have its first commercial Aurora Powerhouse deployed in late 2027 to early 2028.
California-based Oklo released its fiscal year 2024 financial results and business update presentation on Monday. Last week the company finalized an agreement with the Department of Energy’s Idaho National Laboratory to follow “strict environmental guidelines” at the site during its project.
The company will work closely with both the Idaho Laboratory and DOE to prepare site development and research. Oklo received its first site permit from the DOE and was awarded fuel for its first reactor by Idaho National Laboratory in 2019.
Backed by a DOE site use permit, the project is on track for deployment in late 2027 to early 2028, company executives said in a letter to investors.
Oklo intends to submit its combined licensed application to the Nuclear Regulatory Commission (NRC) later this year.
While Oklo has several SMRs on the drawing board the one at Idaho National Laboratory is the furthest along, Oklo CEO Jacob DeWitte told Exchange Monitor Wednesday in Washington, D.C., at an event sponsored by the House Cleanup Caucus.
Oklo is also planning new nuclear units at DOE’s Portsmouth Site in Ohio and near the Oak Ridge Site in Tennessee, the CEO said.
Oklo has begun drilling, testing and site characterization for its first commercial powerhouse, which is phase one of DOE’s regulatory steps for siting, as stated in its fiscal year 2024 shareholder letter. The company said it has also expanded its 50 megawatts (MW) reactor platform to scale a 75 MW design to meet growing demand from data centers.
Oklo went public in May 2024. During its first year of operation, the company saw a net loss of $52.8 million from operations and a total loss of $73.6 million in fiscal year 2024.
