Next-Gen Reactors Powered by Nuclear Waste: Oklo Inc.'s New Technology Approach

As demand for clean energy continues to grow, innovation in nuclear power technology is gaining significant attention. Among these innovations, Oklo Inc. stands out with its technology that can convert nuclear waste into energy, bringing new possibilities to the nuclear industry. Founded in 2013 by MIT graduates, this startup is fundamentally changing the concept of nuclear power with small reactor technology.

What is Oklo Inc.?

Oklo Inc. is an advanced nuclear technology company headquartered in Santa Clara, California. The company specializes in developing small modular reactors (SMRs), particularly gaining attention for its technology that converts nuclear waste into energy¹.

The company’s name derives from the Oklo region in Gabon, Africa, where naturally occurring nuclear fission reactions took place approximately 1.7 billion years ago. This location serves as a symbolic testament to the stability of nuclear fission in nature.

Company Origins and Founders

Founder Profiles

Oklo Inc. was founded in 2013 by Jacob DeWitte and Caroline Cochran, who were graduate students at the Massachusetts Institute of Technology (MIT)².

Jacob DeWitte (CEO & Co-founder)

Originally from Albuquerque, New Mexico
Developed interest in nuclear energy from childhood, frequently visiting the National Nuclear Science Museum with his father
Studied advanced reactors at MIT, focusing on extending the lifetime and power output of existing large-scale reactors during his PhD

Caroline Cochran (COO & Co-founder)

Holds BS degrees in mechanical engineering and economics from the University of Oklahoma
Met DeWitte at MIT’s nuclear engineering graduate school
Brings a mechanical engineering background to the company

Founding Story

While studying the history of nuclear energy at MIT, the two became passionate about realizing advanced fission technology. They participated in the MassChallenge accelerator in 2013 and Y Combinator in 2014, securing early funding rounds².

Technical Features: The Aurora Reactor

Oklo’s flagship product is the “Aurora” liquid metal fast reactor, which features the following innovative characteristics:

Key Technical Specifications

Item	Specification
Reactor Type	Liquid Metal Fast Reactor
Output	15MWe (electric) + usable heat
Fuel	HALEU (High-Assay Low-Enriched Uranium) or spent nuclear fuel
Cooling Method	Natural circulation liquid metal cooling
Design Life	~20 years without refueling
Construction Cost	~$70 million (compared to $2-5 billion for conventional reactors)
Generation Cost	$80-130/MWh (as low as 4¢/kWh with subsidies)

Image is an AI-generated illustration for explanatory purposes

Technical Advantages

Nuclear Waste Utilization
- While conventional reactors use only about 5% of fuel energy, Aurora can utilize the remaining 95%³
- Repurposes spent nuclear fuel as a new energy source
Safety
- Non-pressurized design significantly reduces accident risks
- Self-stabilizing and self-controlling features achieve “walk-away safe” operation
- Natural circulation cooling ensures safety even during power loss
Compact Design
- Prefabricated small design enables easy transportation and installation
- Scalable from 15MWe to 50MWe

Business Development and Current Status

Funding and Investors

Oklo has received support from prominent investors:

Hydrazine Capital (founded by Sam Altman, with Peter Thiel as sole LP)
Facebook co-founder Dustin Moskovitz
Ron Conway (SV Angel)
Kevin Efrusy (Accel Partners)
Tim Draper (Draper Associates)

Stock Market Listing

In May 2024, Oklo went public on the New York Stock Exchange through a merger with Sam Altman’s SPAC (AltC Acquisition Corp.). The ticker symbol is “OKLO”¹.

Listing details:

Successfully raised approximately $306 million
Shares fell 54% on first trading day, closing at $8.45
As of June 30, 2025, stock price at $55.99 with market cap of $8.25 billion

Current Business Status

Key developments as of 2024:

First Aurora reactor scheduled to operate at Idaho National Laboratory in 2027
Secured contract with U.S. Air Force for reactor construction in Alaska
Partnership with Atomic Alchemy to produce medical isotopes from fuel recycling process
50 employees at Santa Clara headquarters

Nuclear Fuel Recycling Technology

One of Oklo’s most innovative technologies is its ability to convert nuclear waste into energy.

Image is an AI-generated illustration for explanatory purposes

Recycling Process Demonstration

In 2024, Oklo, in collaboration with Argonne National Laboratory and Idaho National Laboratory, successfully completed the first end-to-end demonstration of its advanced fuel recycling process³.

This project received $5 million in funding from the U.S. Department of Energy’s ARPA-E program and aims to deploy a commercial-scale advanced fuel recycling facility.

Technical Benefits

Significantly reduces nuclear waste volume
Efficient utilization of energy resources
Reduces long-term nuclear waste management costs
Production of medical isotopes as a byproduct

Market Opportunities and Future Outlook

Data Center Demand

With rapid AI technology development, data center power demand is surging. Major tech companies like Alphabet, Amazon, and Meta are exploring nuclear energy use, presenting significant market opportunities for Oklo.

Regulatory Progress

In January 2022, the Nuclear Regulatory Commission (NRC) denied Aurora’s combined construction and operating license application due to insufficient information, but Oklo is preparing for resubmission. Continued dialogue with regulators is advancing the approval process.

Long-term Vision

Oklo positions itself not just as a reactor manufacturer but as a power supplier. The strategy involves selling electricity directly to customers, ensuring more stable revenue streams.

While many challenges remain toward the first commercial reactor operation in 2027—including regulatory approval, technology demonstration, and market development—Oklo’s technology has the potential to shape the future of nuclear power generation against the backdrop of growing clean energy demand and AI-era power requirements.