Oklo is a pre-revenue advanced nuclear energy company developing small modular fast fission reactors, called Aurora powerhouses, that produce 15–75 MWe. Rather than licensing reactor designs to utilities, Oklo builds, owns, and operates its powerhouses and sells electricity and heat directly to customers under long-term power purchase agreements (PPAs). Target customers include data centers, hyperscalers, military installations, industrial facilities, and utilities — essentially power-intensive end users who need clean, firm baseload power around the clock. Oklo's first commercial Aurora powerhouse is under construction at Idaho National Laboratory, with operations targeted for late 2027 to early 2028. Oklo's reactor technology is derived from the EBR-II, a U.S. government fast reactor that operated for 30 years, which Oklo argues lets it skip a costly dedicated demonstration phase. A key differentiator is fuel flexibility: unlike conventional light water reactors, Aurora can run on fresh HALEU, recycled fuel, government stockpiles, or plutonium-based fuels. Beyond power generation, Oklo is building a fuel recycling and fabrication business, anchored by a planned Advanced Fuel Center in Tennessee, to vertically integrate its fuel supply and potentially sell recycled fuel to third parties. Oklo also acquired Atomic Alchemy in early 2025 to enter the radioisotope production market, with initial small-scale isotope sales potentially beginning in 2026. Oklo has assembled a non-binding pipeline of over 14 GW of potential power demand, including a 12 GW Master Power Agreement with Switch and a prepayment agreement with Meta for a 1.2 GW power campus in Ohio.