Oklo's Idaho Reactor Moves Into Structural Build

The Aurora powerhouse's first fuel assembly is targeted for 2027, subject to regulatory approvals not yet granted.

Updated on Nov. 6, 2026 in Nuclear

Partially erected steel frame rising from an excavated pit on flat arid ground under a pale sky, with a crane arm silhouetted against it. — Oklo said workers have begun erecting structural steel at its 75-megawatt Aurora reactor in Idaho, targeting first fuel loading for 2027 pending regulatory approvals. AI Illustration. Upload story photo >

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Oklo reported third-quarter results showing a GAAP loss of 22 cents per share and revenue of $1.86 million, against $1.02 million expected by Wall Street, while advancing reactor construction, fuel development and isotope work. The Aurora 75-megawatt powerhouse in Idaho is in structural construction, a research-stage fuel-recycling effort received $6.8 million in federal funding, and the company's Aurora reactor is still pre-commercial.

Why it matters

The results show a small advanced-reactor developer moving from design toward physical construction, with the Department of Energy's approval of the Aurora project's Preliminary Documented Safety Analysis marking a regulatory step. Oklo's third-quarter operating loss rose to $71 million from $36.3 million a year earlier, reflecting the cost of building before any reactor is generating power.

Oklo's third-quarter financials are reported as company figures, with revenue rising from zero to $1.86 million and a $3.13 billion cash position. The 75-megawatt Aurora powerhouse's capacity is the design target, not a demonstrated output, and the company has not yet operated a commercial unit.

The players

Oklo

An advanced fission reactor developer whose Aurora 75-megawatt design, Groves isotope reactors and fuel-recycling work are in construction or research stages.

U.S. Forged Rings

A manufacturer that signed an agreement with Oklo reserving capacity for 27 Aurora reactor module-equivalents.

U.S. Department of Energy

The federal agency that approved the Aurora project's Preliminary Documented Safety Analysis and provided $6.8 million for recycled nuclear fuel development.

The details

Oklo is building a 75-megawatt Aurora powerhouse in Idaho, with workers having completed reactor-area excavation and begun erecting structural steel as of Nov. 4. Fuel recycling, a process that reprocesses used nuclear fuel to extract usable material, is a research-stage effort supported by $6.8 million in federal funding. Separately, the company's Groves-1 isotope test reactor in Texas reached substantial construction completion after 229 days, and a manufacturing agreement with U.S. Forged Rings reserves capacity for 27 Aurora reactor module-equivalents.

Nov. 4: Reactor-area excavation completed and structural steel erection begun at the Aurora site in Idaho.
2026: Oklo expects operating cash outflows of $120 million to $150 million and capital spending of $400 million to $500 million.
2027: Expected completion of the first Aurora fuel assembly, subject to approvals.
2030-2035: Supported future Aurora reactor deployments under the manufacturing agreement.
Within 12 months: Expected first contracted isotope delivery.

The Tech Race

Oklo's Aurora project is in structural construction in Idaho, while its Groves-1 isotope reactor in Texas has reached substantial completion, placing it among a small group of U.S. advanced-reactor developers moving to physical builds. The company's first fuel assembly in 2027 would be a further milestone in that race, if approvals are granted on schedule.

The Aurora reactor and Groves isotope facilities are not yet available to buyers or hospitals, and no commercial pricing has been announced. Nearer-term effects will be limited to the construction and manufacturing supply chain, with first contracted isotope deliveries expected within 12 months.

The takeaway

Oklo's trajectory now depends on regulatory approvals for its first fuel assembly in 2027, a milestone to watch against its 2026 spending guidance of $400 million to $500 million. The company's first contracted isotope delivery, expected within 12 months, will show whether its Texas facilities can generate revenue ahead of power output.

What happens next

Oklo expects to complete the first Aurora fuel assembly in 2027, subject to approvals, and expects its first contracted isotope delivery within 12 months.