Mentioned:
Major new breakthroughs in nuclear energy might be getting closer than ever.
What’s happening:
- Oklo (NYSE: OKLO) has received an approval from the United States Department of Energy on their Conceptual Safety Design Report for the Aurora Fuel Fabrication Facility located at the Idaho National Laboratory
Why it matters:
- The new approval from the United States Department of Energy brings Oklo closer to being able to use recovered nuclear material to fuel their first ever commercial powerhouse
- Most nuclear reactors are unable to use the vast majority of the energy content that exists in their fuel, which Oklo’s reactors are aiming to completely change by turning used fuel waste into clean energy
Going deeper:
- Oklo has also been quickly advancing their flagship nuclear energy project in Idaho, which is aiming to become the first ever fast fission nuclear power plant to operate in the United States of America
- Nuclear energy has been experiencing a euphoria in the public markets after some of the world’s largest technology companies including Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN) and Google (NASDAQ: GOOG) all recently announced new partnerships and investments into nuclear power projects
Market reaction:
- Shares of Oklo are up +59% since the announcement
