Latest news with #DanielPoneman
Yahoo
03-04-2025
- Business
- Yahoo
Oklo (NYSE:OKLO) Sees 4% Rise Over Last Quarter Amid US$74 Million Net Loss
Oklo recorded a 4% increase in share price over the past quarter, reflecting the company's proactive regulatory engagement and strategic developments in the nuclear energy sector. Key events include significant regulatory engagements with the U.S. Nuclear Regulatory Commission for the Aurora Powerhouse, and a Memorandum of Agreement with the Department of Energy, which bolster the company's potential for growth despite reporting a net loss of USD 74 million in annual financial results. While the broader market has remained flat in recent days, recent tariff announcements have overshadowed many sectors, affecting tech and retail stocks more than companies like Oklo focused on long-term energy solutions. We've spotted 4 risks for Oklo you should be aware of, and 1 of them is concerning. We've found 19 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Over the past three years, Oklo's shares have achieved a total return of 132.58%. Compared to the previous year, Oklo's performance outpaced both the broader US market and the US Electric Utilities industry. Several key developments have contributed to this impressive longer-term return. Noteworthy is the signing of a Master Power Agreement with Switch in December 2024 for 12 GW of power projects, which marked a significant commitment to clean power expansion. Additionally, the partnership under Letters of Intent to provide low carbon power for data centers was a step towards broader infrastructure engagement across the U.S. The company's leadership changes, with the appointment of Daniel Poneman and Michael Thompson to the Board in March 2025, brought expertise in nuclear technology and financing to Oklo, signaling strengthened governance. Strategic alliances, like the MOU with Lightbridge Corporation for nuclear waste recycling, aligned with Oklo's forward-looking approach in the nuclear sector, likely enhancing investor confidence in the company's long-term vision. Explore historical data to track Oklo's performance over time in our past results report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:OKLO. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
26-03-2025
- Business
- Yahoo
Oklo reveals 75-MW reactor design, eyes late 2027 commercial deployment
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. Oklo remains on track to submit its combined license application to the U.S. Nuclear Regulatory Commission later this year and deploy its first commercial power plant at Idaho National Laboratory in late 2027 or early 2028, the advanced nuclear developer said Monday. The company expanded its Aurora powerhouse design from 50 MW to 75 MW to support demand from large data center customers 'without adding any notable technical, design or regulatory complexities,' it said. Oklo also added two new board members to replace former Liberty Energy CEO Chris Wright, who left earlier this year to serve as U.S. Energy Secretary. One of the incoming board members is Daniel Poneman, former president and CEO of Centrus Energy, a U.S. nuclear fuel supplier from which Oklo plans to source high-assay, low-enriched uranium fuel. Since July 2023, when it announced that it would go public via a merger with a special purpose acquisition company cofounded by OpenAI CEO Sam Altman, Oklo's order pipeline has grown from less than 1 GW to around 14 GW, it said Monday in a separate quarterly update. That pipeline includes a 12-GW, 20-year 'master power agreement' with data center developer and operator Switch, plus several smaller agreements with other data center firms and Texas-based oil and gas operator Diamondback Energy. Master power agreements are more flexible and less risky than traditional power purchase agreements, which Oklo has not pursued to date, Chief Financial Officer Craig Bealmear said Monday on an investor webcast. Covering planned capacity investments, delivery timelines, target sites and regions and power price ranges, the agreements act as frameworks for Oklo's customer relationships and eventual project-level PPAs, Oklo said in its quarterly update. In the investor materials and webcast, Oklo detailed plans for a 'phased deployment' of power generation infrastructure in partnership with RPower, an off-grid, gas-fired 'prime power' provider. The partnership envisions rapid deployment of gas-fired generation as a near-term 'bridge' for data center customers with urgent power needs, followed by phased powerhouse deployment and an eventual end state where RPower's generators provide backup power and grid services, Oklo said. '[The partnership] enhances grid stability, allowing RPower to act as a good grid citizen with Oklo, supplying surplus power to the grid when needed,' Bealmear said. Oklo's decision to upsize its powerhouse capacity from 50 MW to 75 MW was 'very much a customer-informed design decision' based on 'where we see … the data center architectures progressing,' CEO Jacob DeWitte said on the investor call. The 75-MW size allows Oklo to serve an emerging 'sweet spot' between 60 MW and 72 MW per data hall with margin to spare, whereas a 50-MW reactor would 'limit some of the upside,' he said. The larger reactor design is more fuel-efficient and offers 'economies of scale' by allowing future customers to achieve the same output with fewer reactors, Bealmear said. But the upsize is modest enough not to introduce new technical or design risk in licensing, he added. Ongoing, multiyear preapplication engagement with the NRC and recent positive regulatory developments have Oklo cautiously optimistic for a smooth licensing process, DeWitte said. 'One reference point that I think is important here is TerraPower's construction permit work — they did a readiness assessment and relatively quickly thereafter [in March 2024] submitted a construction permit, and there's been recent news that the NRC is ahead of schedule on that review,' DeWitte said. '[TerraPower's design] is a very similar technology set to ours.' Oklo's imminent Pre-Application Readiness Assessment will address the siting and environmental components of its combined license application for its first commercial powerhouse at Idaho National Laboratory, where Oklo has begun early site work, the company said Monday. Oklo plans to submit its combined license application in the fourth quarter of this year, following the Oct. 1 effective date for the NRC's proposed 55% hourly rate reduction for advanced reactor applicants, DeWitte said. Though it has enough HALEU fuel for the INL reactor's initial load, Oklo shares other advanced reactor companies' near-term concerns about limited nuclear fuel supplies, DeWitte said. Congress unlocked $2.7 billion for U.S. HALEU production last year in a law that also banned most uranium imports from Russia, significantly tightening the civilian market as suppliers like Centrus work to build domestic capacity. 'I do worry about the bridge between now and the early 2030s,' DeWitte said. But growing orderbooks for advanced reactors ought to spur additional investments in U.S. production capacity, while tech giants' interest in HALEU-fueled reactors in particular suggest key customers see the fuel issue as a 'solvable problem,' DeWitte said. And Oklo's planned investment is in fuel recycling capabilities, which could eventually reduce its fuel costs by 80%, 'a little bit of an ace up our sleeves,' he added. Recommended Reading Generator, advanced nuclear stocks reel as low-cost DeepSeek chills AI load growth outlook
Yahoo
24-03-2025
- Business
- Yahoo
Oklo Appoints Two New Board Members Following Chris Wright's Confirmation as U.S. Secretary of Energy
Appointments follow Chris Wright's departure from Oklo's Board after his confirmation as U.S. Secretary of Energy. Oklo welcomes Daniel Poneman and Michael Thompson as new Board Directors. New board members bring decades of experience in the nuclear, hard tech, and financial sectors. SANTA CLARA, Calif., March 24, 2025--(BUSINESS WIRE)--Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, has appointed Daniel Poneman and Michael Thompson to its Board of Directors. Their addition strengthens the company's leadership team with deep expertise in nuclear technology and technology financing. "We welcome Daniel and Michael to our Board of Directors," said Oklo Co-founder and CEO Jacob DeWitte. "Their extensive experience and passion for our mission will be helpful as we work to advance the large-scale deployment of Oklo Aurora powerhouses, nuclear fuel recycling, and the development of our radioisotope production facilities." "Nuclear energy needs to play a major role in meeting the world's growing energy needs," said Caroline Cochran, Co-Founder and COO of Oklo. "We are developing advanced fission technologies to deliver on its potential, and the expertise of Daniel and Michael will help us achieve our goals." About the New Board Members Daniel B. Poneman has decades of experience in the U.S. nuclear industry across both public and private sectors. He served as Deputy Secretary of Energy at the U.S. Department of Energy from 2009 to 2014. Mr. Poneman later became President and CEO of Centrus Energy Corp. from 2015 to 2023, where he played a key role in launching the first U.S.-technology enabled domestic uranium enrichment production since 1954. Michael Thompson has over 25 years of experience investing in and advising technology companies. Since 2017, he has served as CEO and Managing Partner of Reinvent Capital, a private investment fund focused on technology. Prior to that, he was the Founder and Managing Director of BHR-Capital, a New York-based hedge fund. Mr. Poneman will serve on the Nominating & Governance Committee, and Mr. Thompson will serve on the Audit Committee of Oklo's Board. About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, and affordable energy at scale, establishing a domestic supply chain for critical radioisotopes, and advancing nuclear fuel recycling to convert nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories. Forward-Looking Statements This press release includes statements that express Oklo's opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements." The words "anticipate," "believe," "continue," "can," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning, among other things, the benefits of the proposed acquisition, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo's future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the development and deployment of Oklo's powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; risks related to acquisitions, divestitures, or joint ventures we may engage in; the potential need for financing to construct plants; market, financial, political and legal conditions; the effects of competition; risks related to accessing HALEU and recycled fuels; risks related to our supply chain; risks related to power purchase agreements; risks related to human capital; risks related to our intellectual property; risks related to cybersecurity and data privacy; changes in applicable laws or regulations; the outcome of any government and regulatory proceedings and investigations and inquiries; the risk that the acquisition of Atomic Alchemy fails to produce the expected benefits; and those factors in the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release and in any document incorporated by reference are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. View source version on Contacts Media and Investor Contact for Oklo: Bonita Chester, Head of Communications and Media at media@ Investor Contact: Sam Doane, Director of Investor Relations at investors@ Sign in to access your portfolio
