Goldman Sachs has reiterated its Neutral rating and $106.00 price target on Oklo following an investor meeting with the company’s CEO Jacob DeWitte and Director of Investor Relations Sam Doane in New York on December 9.

The nuclear energy company plans to focus primarily on deploying its 75MW Aurora Powerhouse reactors over the next five years, with potential to increase output to 250MW based on customer needs. Management indicated they anticipate announcing milestones for Project Pluto, which aims to optimize downblended plutonium use, in the coming weeks.

Oklo’s near-term strategy includes developing 3-4 nuclear campuses across the United States, each capable of deploying one gigawatt or more of Aurora Powerhouses with virtual power purchase agreements. The company identified PJM as a key market opportunity, while behind-the-meter solutions are viewed as longer-term prospects for the mid-2030s.

The company’s sodium-cooled fast reactor technology allows it to use both fresh HALEU fuel and recycled fuel, with plans to downblend plutonium supplied by the Department of Energy to support deployments into the 2030s. Management emphasized that vertical integration into fuel fabrication will significantly reduce costs compared to market sourcing.

Oklo expects to provide more detailed cost figures in the coming months and is working with customers to help mitigate initial costs through upfront capital commitments. The company also noted that a recent memorandum of understanding between the Department of Energy and Nuclear Regulatory Commission could streamline the approval timeline by preventing duplicative reviews.

Goldman Sachs Reiterates OKLO Rating | $106 PT