Oklo
Oklo Inc. is an advanced nuclear technology company based in Santa Clara, California, founded in 2013 by Jacob DeWitte and Caroline Cochran. The company is focused on developing and deploying next-generation fission reactors to provide clean, reliable, and affordable energy.
Technology and Products
Oklo's main product line is the Aurora nuclear reactor powerhouse, which includes:
- Compact fast reactors designed to generate 15-50 MWe of electrical power
- Ability to operate for up to 10 years without refueling
- Intended for off-grid applications like data centers, remote communities, and industrial sites
The Aurora powerhouse utilizes liquid metal cooled fast reactor technology, which offers several advantages:
- Inherent safety features due to strongly negative reactivity feedback coefficients
- Ability to use nuclear waste as fuel through recycling processes
Fuel Recycling
Oklo is actively developing fuel recycling technologies to:
- Extract over 90% of remaining potential energy from used nuclear fuel
- Provide cost-competitive fuel for its advanced reactors
- Reduce high-level waste requiring permanent disposal
The company has won over $15 million in U.S. Department of Energy awards for its recycling efforts.
Business and Partnerships
Oklo's business model focuses on selling power directly to customers. The company has signed agreements with:
- Diamondback Energy for emission-free electricity in Permian Basin operations
- Wyoming Hyperscale for powering a data center campus
Recent Developments
- In July 2023, Oklo announced plans to go public via a special purpose acquisition company
- On May 10, 2024, the company merged with AltC Acquisition Corp, receiving $306 million in gross proceeds
- In July 2024, Oklo successfully demonstrated key stages of its advanced fuel recycling process in collaboration with national laboratories
Regulatory Progress
While Oklo's initial application for a combined construction and operating license was denied by the Nuclear Regulatory Commission in January 2022, the company continues to engage with regulators. In January 2023, Oklo submitted a Licensing Project Plan to the NRC for a commercial-scale nuclear fuel recycling facility.
Oklo's innovative approach to nuclear energy and fuel recycling positions it as a potential leader in the development of small, advanced nuclear reactors for various applications.
Based on the recent financial data and market information provided, here's an overview of Oklo's current valuation:
Market Capitalization
As of September 2024, Oklo (NYSE: OKLO) has a market capitalization of approximately $660-740 million:
- $683 million according to one source
- $660 million according to another source
- $740 million according to a third source
This places Oklo as the world's 5838th to 6015th most valuable publicly traded company, depending on the exact figure and source.
Stock Price and Performance
- Current stock price: $6.10 (as of the last trade)
- 52-week range: $5.35 (September 9, 2024) to $18.80 (May 9, 2024)
- The stock is currently trading 14.02% above its 52-week low
Key Financial Metrics
- Shares outstanding: 122.10 million
- Free float: 80.75 million shares
- Earnings Per Share (EPS) (TTM): -$5.34 USD
- Price-to-Earnings (P/E) ratio: Not available due to negative earnings
Recent Corporate Events
- Oklo went public through a merger with AltC Acquisition Corp. on May 10, 2024
- The company received $306 million in gross proceeds from the merger
- An additional $25 million customer prepayment was reported, strengthening the post-merger balance sheet
Business Model and Prospects
Oklo is developing advanced fast fission reactors for clean energy production. The company's business model involves:
- Building, owning, and operating nuclear reactors
- Selling power directly to customers under long-term contracts
- Focusing on small, scalable reactor designs (15 MW, 50 MW, and 100+ MW)
The company is positioned in the growing nuclear reactor construction market, which was valued at $52.2 billion in 2023 and is expected to grow at a 1.5% CAGR from 2024 to 2032.
While Oklo's current valuation reflects investor interest in its innovative nuclear technology, it's important to note that the company is still pre-revenue and faces regulatory and technological challenges typical of advanced nuclear startups. The negative EPS indicates that the company is not yet profitable, which is common for early-stage technology companies in capital-intensive industries.
