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Nuclear Energy Startup Oklo Sees 320% Surge
Nuclear energy startup Oklo (NYSE: OKLO) has experienced a significant rise, climbing over 320% year-to-date. The company is working on its Aurora powerhouses, designed to run on high-assay low-enriched uranium and expected to operate for over a decade without refueling. However, Oklo is pre-revenue and is pending regulatory approval from the Nuclear Regulatory Commission to commercially operate a nuclear reactor.
Oklo is also planning to build the U.S.’s first privately funded nuclear fuel recycling facility in Oak Ridge, Tennessee, with an estimated cost of $1.68 billion. This facility aims to enhance fuel security and could lead to an 80% reduction in fuel costs. Despite these ambitious plans, experts suggest that Oklo may remain untested at scale until at least late 2027, with a projected cash burn of $65 to $80 million in 2025 and cash reserves of around $227 million as of June 2023.
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