Oklo (OKLO) Climbs 6% on Siemens Partnership

We recently published 10 Stocks Beating Wall Street at its Own Game. Oklo Inc. (NYSE:OKLO) is one of the best-performing stocks on Wednesday.

Oklo rallied for a second day on Wednesday, jumping 6.45 percent to close at $102.86 apiece as investors took heart from its recent partnership with Siemens Energy to accelerate the deployment of Aurora powerhouses.

In a statement, Oklo Inc. (NYSE:OKLO) said it tapped Siemens Energy to begin engineering and design for a condensing SST-600 steam turbine, an SGen-100A industrial generator, and associated auxiliaries to support its Aurora powerhouse at Idaho National Laboratory (INL).

The power conversion system represents one of the major long-lead procurements required to commence power operations of the Aurora powerhouse.

Sergey Nivens/shutterstock.com

In other news, Oklo Inc. (NYSE:OKLO) recently announced the results of its earnings performance for the third quarter of the year. During the period, the company widened its net loss by nearly 200 percent to $29.7 million from $9.96 million in the same period last year.

Operating loss also grew by 195.6 percent to $36.3 million from $12.28 million year-on-year.

“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. We believe this is a historic step forward for the advanced nuclear industry—a real-world purchase that demonstrates progress toward deployment and operation,” said Oklo Inc. (NYSE:OKLO) Chief Product Officer Alex Renner.

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Disclosure: None. This article is originally published at Insider Monkey.