Better Energy Stock: Oklo vs. Centrus Energy

Published: Saturday, December 6, 2025 at 4:20 pm

Nuclear Energy Stocks: Oklo vs. Centrus Energy

Nuclear power is experiencing a resurgence, driven by its efficiency, reliability, and zero-emission profile. This shift is fueled by global commitments to expand nuclear capacity, including the U.S. government's plans to significantly increase its nuclear energy output to meet future power demands and net-zero emission goals. This expansion is expected to require substantial investment, benefiting companies operating in the nuclear sector.

Two companies attracting significant attention are Oklo and Centrus Energy. Both have seen substantial stock gains over the past year, far exceeding the S&P 500's performance. While both companies stand to benefit from the positive outlook for nuclear energy, they operate at different points in the nuclear value chain.

Oklo, founded in 2013, is developing advanced fission power plants using metal-fueled fast-reactor technology. Its primary product is the Aurora powerhouse, a small-scale, scalable reactor designed for electricity generation. Oklo is currently seeking regulatory approvals, with plans to have its first Aurora powerhouse operational by late 2027 or early 2028. The company has not yet built any operational powerhouses or secured binding customer agreements.

Centrus Energy, established in 1998, provides nuclear fuel components, enrichment, and technical services. Its primary revenue source is the sale of low-enriched uranium (LEU), a key component of nuclear fuel, to commercial nuclear power plants. Centrus currently relies on outside sources for LEU, including a deal with a Russian entity. However, a ban on Russian LEU imports is expected by 2028, creating a need to replace a significant portion of its current supply. Centrus aims to produce LEU and high-assay, low-enriched uranium (HALEU) in-house using its advanced centrifuge technology. Centrus is the only producer of HALEU licensed by the Nuclear Regulatory Commission.

BNN's Perspective:

Both Oklo and Centrus Energy are positioned to benefit from the growth of the nuclear energy sector. While Oklo represents a potentially innovative, long-term play, Centrus Energy's established revenue stream and current production capabilities make it a more immediate investment opportunity. The shift away from Russian uranium also presents a significant opportunity for Centrus to expand its market share.

Keywords: nuclear energy, Oklo, Centrus Energy, nuclear stocks, SMRs, low-enriched uranium, HALEU, Aurora powerhouse, nuclear power, zero emissions

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