Oklo Inc.

Oklo Inc.

MIT-trained nuclear engineers Jacob DeWitte and Caroline Cochran founded Oklo in 2013, naming it after the Gabon region where a natural fission reactor operated two billion years ago. The company designs, builds, and operates compact fast reactors under 50 megawatts electric, targeting behind-the-meter power for data centers, remote communities, and industrial facilities. Unlike conventional nuclear developers chasing 10-plus-year timelines, Oklo structured its Aurora powerhouse to fit on a small footprint and refuel less than once every decade. Oklo's reactor design uses liquid-metal cooling and a fast-neutron spectrum, allowing it to consume high-assay low-enriched uranium and spent fuel from existing light-water reactors. The strategy targets two revenue streams: power purchase agreements with end users and a fuel-recycling business that monetizes legacy nuclear waste. In December 2023, Oklo signed a memorandum of understanding with Diamondback Energy to supply power for oil and gas operations in the Permian Basin. The firm also disclosed term sheets with two major data-center operators in 2024, reflecting direct alignment with hyperscaler decarbonization mandates (per SEC filings, 2024). Deployment remains concentrated in the United States, with its first commercial site licensed at Idaho National Laboratory. Oklo completed a business combination with AltC Acquisition Corp., a SPAC sponsored by Sam Altman, in May 2024 and began trading on the New York Stock Exchange under the ticker OKLO. The transaction provided roughly $306 million in gross proceeds (per the firm, May 2024). Altman, who serves as Chairman, has publicly described the company as central to meeting the energy demands of future AI infrastructure. The firm operates from Santa Clara, California, with engineering and licensing teams working directly with the Nuclear Regulatory Commission on a combined operating license application. Adjacent structures include partnerships with Centrus Energy for fuel fabrication and Argonne National Laboratory for fuel qualification testing. Oklo occupies a unique regulatory lane: it is the only advanced reactor developer to hold a Department of Energy site use permit for a non-light-water design and has pursued a combined license application through the NRC's Part 52 process. This hybrid posture — commercial power marketer plus nuclear waste manager — sets it apart from both traditional utility-owned reactors and other advanced-fission startups that have not yet secured a host site. DeWitte and Cochran retain operating control and have structured the board to balance long-duration infrastructure planning with the capital-agile demands of a publicly listed company.