Shares of Oklo Inc. (OKLO) rose 6% in premarket trade on Wednesday, after the company signed an agreement with Siemens Energy, under which Siemens will design the power conversion system for Oklo's Aurora advanced fission powerhouse.

Siemens Energy will conduct detailed engineering activities for a condensing SST-600 steam turbine, generator, and related auxiliary systems for Oklo's Aurora facility at Idaho National Laboratory. The power conversion system is one of the key long-lead items needed before the Aurora Powerhouse small modular reactor (SMR) can begin operations.

“Aurora's inherent safety allows us to use proven, commercially available power systems like Siemens Energy's turbine technology. That design philosophy shortens timelines, lowers costs, and turns advanced nuclear into a deployable product,” said Alex Renner, Oklo's Chief Product Officer.

Oklo's stock has seen strong buying interest so far this year, gaining a staggering 355%.

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