Nuclear power startup Oklo just checked off another important milestone, and for a company with no revenue yet, regulatory progress is the whole game.
Oklo $OKLO ( ▲ 2.25% ) said the Department of Energy’s Idaho office approved a safety plan for its proposed nuclear fuel production plant at Idaho National Laboratory, one of the US government’s main nuclear research hubs. The approval allows Oklo to begin assembling the facility and makes it the first company cleared under the DOE’s new Fuel Line Pilot Program.
A fast track for nuclear fuel
The Fuel Line Pilot Program was created by executive order from President Trump in May, with a clear mission: speed up domestic nuclear fuel production and reduce reliance on foreign sources. As electricity demand surges, driven in part by AI data centers, nuclear power has quietly reentered the strategic conversation in Washington.
Before this program existed, private nuclear fuel production was typically overseen by the Nuclear Regulatory Commission, a process known for being slow and cautious. The new DOE-led framework cuts through some of that friction. For Oklo, this approval is not just paperwork. The company said it effectively grants permission to start facility assembly.
Progress before profits
Oklo designs small modular nuclear reactors and still has no profits or sales. Yet its shares are up nearly 300 percent this year, fueled by investor appetite for nuclear energy and steady regulatory momentum.
In this phase, approvals are credibility. Each green light signals that Oklo is moving closer to execution rather than staying stuck in concept mode. In a market willing to price future energy solutions years in advance, that credibility has mattered more than near-term revenue.
Politics in the background
The approvals have also drawn attention to Oklo’s proximity to the Trump administration. Current Energy Secretary Chris Wright served on Oklo’s board until he took office earlier this year, a connection that has raised eyebrows as the company benefits from a newly created DOE program.
For now, investors seem more focused on what the approval enables than on the optics. The stock was slightly lower following the announcement, but the broader trend remains intact.
Regulatory momentum continues to be the main fuel source for Oklo’s story, and this latest clearance keeps the company firmly on that track.