Oklo (NYSE: $OKLO), a start-up company that makes compact %NuclearReactors, has been awarded a contract to supply power to a U.S. Air Force Base in remote Alaska.
The U.S. military has tapped Oklo to deploy its proprietary Aurora nuclear powerhouse at the Eielson Air Force Base in rural Alaska, according to a news release.
The value of the contract was not disclosed, but the project will serve as the Air Force’s microreactor pilot program aimed at enhancing energy resilience for national security.
Oklo is being contracted by the U.S. Department of Defense to design, build, own, and operate the power plant, providing both electricity and heat to the Air Force base through a long-term power purchase agreement.
“This award reflects continued confidence in Oklo’s ability to deliver clean and secure energy solutions for mission-critical infrastructure,” said Oklo CEO Jacob DeWitte.
The company’s Aurora powerhouse design uses fast reactor technology to provide continuous energy that can operate independently from the electricity grid, a key feature for remote installations such as the Eielson Air Force Base in Alaska.
Oklo was started by two MIT graduates and went public a year ago, in May 2024, via a special purpose acquisition company (SPAC).
Since then, the company’s share price has gained 465% to trade at $56.80 U.S. per share.
However, Oklo announced a net loss of -$0.74 U.S. per share for all of 2024. That was worse than a loss of -$0.47 U.S. recorded in 2023.
The new Air Force contract is a positive for Oklo as the start-up company currently has no revenue and management has warned that future financial losses are likely.
