In a double dose of regulatory green lights delivered on the same day, Oklo and its wholly owned subsidiary Atomic Alchemy just notched two meaningful milestones that underscore America’s push to reclaim control over critical nuclear supply chains.
The news sent the stock flying in early morning trading.
What happened?
First, the U.S. Nuclear Regulatory Commission issued Atomic Alchemy its inaugural materials license. The permit authorizes the company to receive, possess, process, repackage, and distribute up to 2 curies of radium-226 (material currently treated as waste) along with sealed sources of cobalt-60 and americium-241 for calibration. Operations will kick off at Atomic Alchemy’s Idaho Radiochemistry Laboratory in Idaho Falls, paving the way for initial commercial sales of recovered isotopes used in cancer therapies, medical research, advanced manufacturing, and national security applications.
Oklo CEO Jacob DeWitte said, “Demand for critical isotopes is rising, but U.S. supply remains limited. This work helps create a more resilient and dependable domestic supply chain of isotopes and supports the transition from early operations to durable, commercial isotope production in the United States.”
Hot on its heels came the second announcement: the Department of Energy approved the Nuclear Safety Design Agreement (NSDA) for Oklo’s flagship Aurora powerhouse at Idaho National Laboratory. Following the recent signing of an Other Transaction Agreement under DOE’s Reactor Pilot Program, the NSDA marks the first formal step in the accelerated authorization pathway. Oklo has already requested review of its Preliminary Documented Safety Analysis, building on the project’s September 2025 groundbreaking and the earlier NSDA win for its Aurora Fuel Fabrication Facility.
The Aurora-INL deployment, powered by recycled fuel from the historic Experimental Breeder Reactor II, sets the stage for eventual NRC commercial licensing while demonstrating how fast-fission tech can pair with isotope production for multi-stream revenue. The reactor design already scored a huge win after it was announced Oklo will be partnering with Meta to deploy multiple reactors to support the hyperscalers' data centers.
As we detailed back in January in our coverage of Oklo’s isotope business, the company is pursuing multiple revenue streams, unlike typical reactor developers who just focus on power off‑take agreements.
Oklo is reporting earnings after the bell later today and could share more details on their Atomic Alchemy isotope business. Analysts are looking for updates on reactor deployment timelines, new partnerships with hyperscalers or other power off‑takers, and some more clarity on nuclear fuel recycling efforts.