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Oklo’s Groves reactor reaches first criticality in Lockhart, Texas
The milestone came less than a year after groundbreaking, and management expects revenue from the Groves-linked isotope business to begin in the first half of 2027.
Oklo Inc. announced that its Groves Isotope Test Reactor in Lockhart, Texas reached first criticality on August 6, a controlled, self-sustaining nuclear chain reaction achieved in under a year after groundbreaking, according to Yahoo Finance.
The company said the project is the first under the U.S. Department of Energy Reactor Pilot Program to reach criticality on private land from a greenfield site. Oklo also said it built Groves from raw land, handled civil excavation and construction, and manufactured or procured every component, including fuel, in-house.
On an August 7 earnings call, Oklo management characterized the build timeline as under 11 months from greenfield to criticality and described Groves as the anchor for its isotope business. The company expects isotope revenue to begin in the first half of 2027 from a commercial Idaho radiochemistry lab.
Oklo reported a net loss of $81.6 million for the quarter, with an operating loss of $124.2 million, and it has no forward price-to-earnings ratio because it is not yet profitable. The company said it raised $1.9 billion in 2026 via at-the-market programs and had $3 billion in cash and marketable securities, while lifting 2026 operating cash flow guidance to $120 million to $150 million and capital expenditure guidance to $400 million to $500 million.