Oklo Inc (NYSE:OKLO) shares are trading higher Tuesday after the company announced subsidiary Atomic Alchemy commenced site characterization work at a potential location for a commercial radioisotope production facility.

What To Know: Nuclear startup Oklo announced the start of site characterization activities at the Idaho National Laboratory, which includes core borings to collect soil and rock samples. The samples are expected to provide its subsidiary Atomic Alchemy data on subsurface composition with the aim of ensuring the facility meets requirements.

The progress milestone follows prior approvals and agreements and is another step toward establishing a radioisotope production site to position the U.S. at the forefront of nuclear technology development.

Oklo said radioisotopes are expected to represent a $55.7 billion market opportunity by 2026, according to Research Nester.

“Oklo aims to address this growing market demand through reliable, U.S.-based radioisotope production facilities that leverage our nuclear reactor and fuel recycling technologies,” said Jacob DeWitte, co-founder and CEO of Oklo.

“Through Atomic Alchemy, we aim to execute transformative projects that will expand our capabilities in commercial radioisotope production.”

Oklo said last week that the U.S. Nuclear Regulatory Commission initiated a review of its licensed operator topical report as the company continues to progress on its combined license application seeking approval to operate its planned Aurora powerhouses.

Oklo further announced that it was issued a Notice of Intent to Award by the Defense Logistics Agency Energy to deploy one of its planned Aurora powerhouses at an Air Force installation in Alaska.

Oklo is targeting late 2027 or early 2028 for deployment of its first nuclear powerhouse.

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Photo: courtesy of Oklo.