Oklo Inc ( OKLO ) shares spiked ahead of the market close on Thursday after the company announced it was deemed eligible to provide microreactor power systems for military bases.

What Happened: Just ahead of the closing bell, Oklo ( OKLO ) announced in a post on X that it was selected by the Department of Defense (DOD) as one of the companies eligible to provide microreactors for the U.S. military.

Oklo ( OKLO ) shares jumped about $1 on the announcement, trading from around $21.80 to approximately $22.80 before the close. The stock has carried some of that momentum into the after-hours session on Thursday.

In a press release on Thursday, the Defense Innovation Unit (DIU), with the Department of the Army and the Department of the Air Force, announced the launch of the Advanced Nuclear Power for Installations (ANPI) program.

The program is designed to allow for the design and build of fixed on-site microreactor nuclear power systems on select military installations. The DOD selected eight companies to be eligible to demonstrate the ability to delivery reliable nuclear power. Oklo ( OKLO ) was among the companies selected.

"Microreactors on installations are a critical first step in delivering energy dominance to the Force,” said Andrew Higier, Energy Portfolio Director at DIU.

“Tapping into the commercial sector's rapid advancements in this area is critical due to the significant private investment in this space over the last few years. The U.S. and the DoD must maintain the advantage and leverage the best of breed nuclear technology for our national security."

Oklo ( OKLO ) is now eligible to receive Other Transaction awards to provide commercially available dual-use microreactor technology at various DOD installations.

OKLO Price Action: Oklo ( OKLO ) shares were up 0.31% after hours, trading at $22.79 at the time of publication Thursday, according to Benzinga Pro.

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