Design, build, and operate 50–75 MWe sodium-cooled metallic-fuel fast reactors, the 'Aurora powerhouse', while also developing spent fuel recycling and medical isotope production.
The bet
Bet sodium-cooled metallic-fuel fast reactors can use recycled nuclear waste as fuel, turning nuclear power into a replicable product via small 50–75 MWe units.
Oklo was founded in 2013 by Jacob DeWitte and others with MIT nuclear engineering backgrounds, betting that small fast reactors could be deployed quickly using the design legacy of EBR-II (a breeder reactor that operated at the same site from 1964 to 1994). In 2019 it received DOE site use authorization at Idaho National Laboratory (INL) and a HALEU fuel allocation; in March 2020 it submitted the first COLA for an advanced non-light-water reactor; in January 2022 the application was rejected by the NRC.
After the rejection, Oklo continued engaging with the NRC: on December 18, 2024, it signed a non-binding master power purchase agreement with data center operator Switch for 12 GW (deployment before 2044), which the company described as 'selling power, not power plants'. In July 2025, the NRC completed the pre-application readiness assessment for the first phase of the new Aurora-INL COLA; in August, the DOE reactor pilot program selected three Oklo projects (3 of 11), and the INL project shifted to the DOE authorization pathway, targeting criticality before July 4, 2026; on September 22, the 75 MWe Aurora-INL broke ground, and on September 5 the company also announced the construction in Oak Ridge, United States, of the first privately funded spent fuel recycling facility (first-phase investment $1.68B).
Not yet built: as of mid-2026, Aurora-INL is under construction led by Kiewit, with the company targeting operation at the end of 2027 to early 2028; in May 2026, the NRC approved Aurora's topical report on key design criteria (PDC) at an accelerated pace. The company is still financing expansion, and no reactor is operating.
Recycled fuel: fast reactors consume spent fuel and HALEU, turning waste into fuel—a cost and supply edge.
Regulatory innovation: first DOE site authorization, first advanced COLA; approval as first-mover advantage.
After rejection, changed pathway: shifted to DOE pilot and Part 52 licensing, making regulation a core variable.
Demand anchored by data center orders: 12 GW Switch framework and 2.1 GW pipeline proved 'selling power'.
Risk remains: bet hinges on first reactor operation in 2027–2028 and recycled fuel supply chain.
Regulatory veto need not kill a product; change pathway and customers. Oklo shifted from selling reactors to selling power, using pilot programs and data center orders.
As of 2026-09-01: Aurora-INL is under construction at INL (Kiewit as general contractor), targeting commercial operation from late 2027 to early 2028; on the fuel side, the Aurora fuel fabrication facility (A3F) at INL is undergoing the DOE safety analysis process, planning to use 5 tons of HALEU left over from EBR-II. The Oak Ridge recycling facility is in the early stages, and cooperation with TVA is still under discussion. After the NRC approved the PDC topical report in May 2026, the company continued advancing the Phase 1 COLA. No electricity revenue has been generated.
FOLLOW THE EVIDENCE
The sources
- Oklo Advances Licensing with Completion of NRC Readiness Assessment TMCnet / Oklo · tmcnet.com ·
- Oklo breaks ground at INL on Aurora reactor American Nuclear Society · ans.org ·
- Oklo Breaks Ground on INL Nuclear Fast Reactor Project, Launches Private Fuel Recycling Facility POWER Magazine · powermag.com ·
- Another Big Data Center Win for Nuclear: Oklo and Switch Sign Historic 12 GW Deal POWER Magazine · powermag.com ·
- Oklo's NRC Principal Design Criteria Topical Report Approved for Aurora Powerhouse in Idaho Investing News Network · investingnews.com ·