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SANTA CLARA/STOCKHOLM - U.S.-based Oklo Inc. (NYSE:OKLO), a nuclear technology company with a market capitalization of $16.32 billion, and Swedish company Blykalla AB announced Monday a strategic partnership focused on technology collaboration, supply-chain coordination, and regulatory knowledge-sharing in the advanced nuclear sector. According to InvestingPro data, Oklo’s stock has delivered an impressive 420% return year-to-date, despite a recent 21% decline over the past week.
The agreement includes Oklo co-leading Blykalla’s next investment round with an approximately $5 million commitment. With a strong financial position indicated by a current ratio of 71.27 and more cash than debt on its balance sheet, as reported by InvestingPro, Oklo appears well-positioned for this investment. Under a Joint Technology Development Agreement, the companies will share insights on materials, components, supply chain sourcing, fuel fabrication, and licensing practices across the U.S. and Sweden.
The collaboration aims to reduce costs and schedule risks by examining shared suppliers for reactor-agnostic equipment and potentially establishing cross-border supply chains. Oklo may also provide fuel fabrication services to Blykalla.
"By teaming up on suppliers, materials data, and licensing insights, we can shorten critical paths to deployment and stay focused on delivering reliable, clean power to customers," said Oklo co-founder and CEO Jacob DeWitte in the press release.
Blykalla is developing a 55 MWe lead-cooled fast reactor called SEALER, while Oklo is working on sodium-cooled fast-reactor powerhouses of up to 75 MWe targeting industrial, defense, and data-center customers in the U.S.
"Coordinated component sourcing and targeted joint R&D can unlock efficiencies for both companies and help our suppliers plan for scale, regardless of which side of the Atlantic they are on," said Blykalla CEO Jacob Stedman.
The partnership represents one of the first transatlantic collaborations in the advanced nuclear reactor sector, according to the companies’ announcement. Oklo has previously established partnerships with Siemens, Korea Hydro & Nuclear Power, Liberty Energy, and ABB for various aspects of its technology development.
In other recent news, Oklo Inc. has made significant strides in its nuclear technology initiatives. The company completed full-scale flow testing of a prototypical fuel assembly at the U.S. Department of Energy’s Argonne National Laboratory. This testing is part of efforts to validate computer models and advance Oklo’s fuel assembly design toward production. Additionally, Oklo broke ground on its first Aurora Powerhouse reactor at Idaho National Laboratory, a project supported by the Department of Energy’s Reactor Pilot Program. This initiative is expected to de-risk execution and maintain a target completion date of late 2027 or early 2028.
In terms of financial analysis, Goldman Sachs initiated coverage on Oklo with a Neutral rating and set a price target of $117, suggesting a potential downside from current levels. Meanwhile, Seaport Global Securities downgraded Oklo from Buy to Neutral, citing valuation concerns despite positive business developments. These recent developments highlight Oklo’s ongoing progress in nuclear technology and the attention it continues to receive from financial analysts.
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