Sam Altman-backed nuclear startup Oklo to start site work for Idaho microreactor
Rendering of a proposed Oklo commercial advanced fission power plant in the U.S.
Courtesy: Oklo Inc.
Nuclear startup Oklo is moving closer to initial construction of its first commercial microreactor, CEO Jacob DeWitte told CNBC in an interview.
Oklo has received the greenlight from the Department of Energy to conduct site investigations for the planned reactor at Idaho National Laboratory in Idaho Falls, the company announced Wednesday.
The site investigations will focus on infrastructure planning, environmental surveys and geotechnical assessments.
“This sets the stage for doing all the initial site … prep work, and what I would call initial construction activities,” DeWitte said. He expects Oklo to break ground at the Idaho site in 2026, with plans to have the reactor up and running by the following year.
Oklo, however, still needs approval from the Nuclear Regulatory Commission to build and operate the plant after its first application was rejected in 2022. The CEO acknowledged there’s a risk the 2027 start date gets pushed out depending on how long the NRC review takes.
Oklo, which aims to build, operate and directly sell power to customers under long-term contracts, went public in May through a merger with OpenAI CEO Sam Altman’s SPAC, AltC Acquisition Corp. Altman serves as Oklo’s chairman.
Electric demand is projected to surge. The tech sector has been feverishly building data centers to handle the power-intensive computations needed for artificial intelligence, while domestic manufacturing is expanding and the economy becomes increasingly electrified.
The company said its microreactors, called Aurora, will have smaller and simpler designs that will range from 15 megawatts to as much as 100 megawatts or more. The average nuclear reactor in the U.S. currently is around 1,000 megawatts, according to the Department of Energy.
‘Industry has radically fallen short’
Oko’s stock has gained nearly 26% since Constellation Energy unveiled plans Friday to restart Three Mile Island nuclear plant to help power Microsoft’s data centers. Its shares are down 54% since its NYSE debut.
DeWitte said the Three Mile Island restart is a “testament” to how much the tech sector sees “energy going up and how important it is to lock in secure supplies of it.”
“What we’re seeing is hyperscalers taking the approach of trying to secure large capacity from existing plants to the greatest extent that they can, which makes sense, because some of that can be the nearest-term power delivery,” DeWitte said.
But the nuclear “industry has radically fallen short of its ability to keep up with the market interest,” DeWitte said. “The challenge has just been the industry’s offerings in terms of product, the business model and ability to execute have just been horrible,” he said.
“All of that is elements around which disruption has needed to take place to sort of change the paradigm,” he said. “And that’s where we really have taken a different angle.”
NRC review crucial
Oklo, however, has faced its own challenges. The NRC rejected Oklo’s first license application due to missing safety information. The company plans to file its application again in 2025, DeWitte said. It is currently in a preapplication review process, he said.
DeWitte attributed the denial of Oklo’s first application to disruptions caused by the Covid-19 pandemic that prevented in-person audits. Oklo submitted its application on March 11, 2020, the day the World Health Organization declared a pandemic.
“Everything changed,” DeWitte said of the pandemic’s impact on the review process. “This missing information was largely missing through communication challenges,” he said.
The CEO acknowledged the NRC review could delay the 2027 start date for the Idaho microreactor: “There’s definitely risk. At the end of the day, we can’t control the NRC review timeline,” he said.
Oklo could get a tailwind from the recently enacted ADVANCE Act, which directs the NRC to speed up decisions on license applications to build and operate reactors.
Future business
DeWitte said Oklo’s business is not contingent upon when the Idaho plant goes online. The company has 1,350 megawatts of interest through letters of intent with potential customers, a 93% increase from 700 megawatts in July 2023, according to the company’s recent earnings presentation.
The CEO said Oklo aims to bring plants online “in multiples per year” starting in 2028 to 2029. “From there, it’s really a game about scaling up the supply chain accordingly,” he said.
Oklo’s microreactors are a good fit for data centers, which are built in individual halls with energy needs of less than 50 megawatts, about the size of the company’s plants, he said.
“They kind of build them out in modules that are pretty similar to what we power, that’s very much on purpose, and so we can build up with them,” DeWitte said.
Nuclear fuel has been a big constraint on Oklo, DeWitte said. In May, the U.S. banned uranium imports from Russia, which made up about 35% of the U.S. nuclear fuel imports. The Biden administration is investing $2.7 billion to stand up domestic production.
Oklo has a partnership with Centrus Energy, a U.S.-based nuclear fuel supplier. Centrus began enrichment operations in Piketon, Ohio, last October, but the domestic supply chain isn’t producing at the scale needed today, DeWitte said. However, Oklo said it has secured the fuel it needs for the Idaho plant.
The company’s reactors will have the ability to recycle fuel, which will help to diversify its supply chain, DeWitte said. But recycled fuel likely won’t be available in meaningful quantities until 2029 or beyond, he said.
Oklo posted a net loss of $53 million for the six months ended June 30. The company has not generated any revenue yet. That will come when it generates power at its first plant.
“Once we turn on that revenue operation, you’re usually locked into a 20-year — and in some cases, potentially longer — power purchase agreements,” CEO said. “You’re going to be getting the revenues for the next 20 years and then growing from there.”
Lectric Ebikes appears to be preparing for a major new product launch, teasing what looks like the next evolution of its wildly popular folding fat tire electric bike. Based on the clues, it looks like a new Lectric XP 4 could be inbound.
In a social media post released over the weekend, the company shared a minimalist graphic reading “XP4” along with the message “Tune in 5.6.2025 9:30AM PT.” That date – this Tuesday – suggests we’re just hours away from the big reveal of the Lectric XP 4.
If true, this would mark the next generation of the most successful electric bike in the U.S. market. The current model, the Lectric XP 3.0, has become an icon of accessible, budget-friendly electric mobility. Starting at just $999, the XP 3.0 offers a foldable frame, fat tires, a 500W motor, a rear rack, lights, and hydraulic brakes – all packed into a highly shippable design that arrives fully assembled. It’s the kind of package that has helped Lectric claim the title of best-selling e-bike brand in the U.S. for several years in a row.
With the XP 3.0 still going strong, the teaser raises plenty of questions. Will the XP 4.0 be a modest update or a major leap forward? Could we see new features like torque-sensing pedal assist, a location tracking option, or upgraded performance? Or is Lectric preparing a more comfort-oriented variant, maybe even with upgraded suspension or even more accessories included standard?
The teaser image, which features stylized stripes in grey, blue, and black, may hold some clues. One theory is that the colors represent new trim options or component upgrades. Another possibility is that Lectric is preparing multiple variants of the XP 4.0 – perhaps targeting commuters, adventurers, and off-road riders with purpose-built versions. We took the liberty of a bit of rampant speculation late last year, so perhaps that’s now worth a revisit.
At the same time though, Lectric’s penchant for launching new models at unbelievably affordable prices has never run up against such strong pricing headwinds as those posed by uncertainty in the current US-global trade war fueled by rapidly changing tariffs for imported goods.
Whatever the case, Lectric’s knack for surprising the industry with high-value, customer-focused e-bikes means expectations will be high. The brand has built a loyal following by delivering reliable performance at a price point that few can match, and any major update to the XP lineup is likely to ripple across the market.
As a young and energetic e-bike company, Lectric is also known for throwing impressive parties around the launch of new models. It looks like I may need to hop on a red-eye to Phoenix so I can see for myself – and so I can bring you all along, of course.
Be sure to tune in Tuesday at 9:30AM PT to see what Lectric has in store – and you can bet we’ll have all the details and first impressions as soon as they drop.
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Electric vehicles’ share of the market continues to climb in America’s second city, with BEV registrations up more than 50% in the first quarter of 2025 compared with the same period last year. Great news, but charging hasn’t up – but a new plan from Chicago Department of Transportation aims to build up enough infrastructure for the city to keep up.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
I hate to sound like a bed-wetting liberal here, guys, but Chicago is getting EVs absolutely right with big utility incentives on both vehicles and infrastructure, a governor willing to stand behind smart environmental policy, and a solid push for more and better infrastructure in the areas where they’ll do the most good. They’re even thinking of the children.
Here’s hoping more cities follow suit.
SOURCE: ComEd, via Smart Cities Dive; featured image by EVgo.
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