Oklo is starting to develop a real knack for catching short sellers offsides…
In what is one of what we believe will be many similar announcements, Oklo shares surged 29% on Wednesday after the company was named the intended awardee for a Department of Defense project to deliver clean energy to Eielson Air Force Base in Alaska.
The Defense Logistics Agency Energy issued a Notice of Intent to Award (NOITA), designating Oklo as the preferred provider following a competitive evaluation process.
Under the proposed agreement, Oklo will design, build, own, and operate an Aurora powerhouse—a microreactor that provides both electricity and heat—at the remote military base.
The project is part of the Department of the Air Force’s microreactor pilot aimed at improving energy resilience and reliability at national security facilities. The Aurora reactor uses fast reactor technology and is designed to operate independently from the grid, which is critical for remote sites like Eielson.
CEO Jacob DeWitte said the NOITA demonstrates continued confidence in Oklo’s ability to deliver reliable energy solutions for mission-critical infrastructure. The deal represents a major step forward in commercializing Oklo’s technology and highlights growing federal support for next-generation nuclear systems.
Investor response was swift, with the stock seeing its biggest one-day gain since the company went public, driven by optimism about Oklo’s ability to secure long-term revenue through government-backed deployments.
Recall, as we noted back in May, Oklo is positioning itself for a potentially favorable regulatory environment. The company is in a pre-application readiness process with the NRC and plans to submit a formal license for its expanded 75-MW design by Q4 2025. It’s targeting late 2027 or early 2028 for initial operations at its Idaho National Laboratory site.
Oklo is one of eight companies eligible for the Pentagon’s Advanced Nuclear Power for Installations program and is investing in fuel recycling capabilities.
The company also holds about 14 GW of nonbinding agreements with data centers and industrial users. The recent departure of Sam Altman from the board, due to a potential conflict of interest with OpenAI, clears the way for future commercial partnerships.
Oklo maintains close ties to the Department of Defense, primarily through CEO Jacob DeWitte, who has participated in high-level government events related to nuclear policy alongside defense officials.
The company’s board has also included retired Lieutenant General John Jansen, further reflecting its alignment with national security interests as it pursues military microreactor deployments.
Short sellers had targeted Oklo earlier this year, citing it as an overvalued “story stock” with no regulatory-approved design, no current revenue, and underestimated timelines and costs—labeling the company’s projections “beyond optimistic” and estimating it needs billions in additional capital.
Oklo has used the surge in its stock price to raise hundreds of millions in additional capital. This could easily give the company the better part of a decade in cash to operate at its current burn rate. Meanwhile, about 12–15 million shares are still currently short—roughly 10–12% of the float.
Tyler Durden
Wed, 06/11/2025 – 22:40
