Oklo Inc. (OKLO) shares soared 5.67% in pre-market trading on Monday, as the company announced significant progress in its nuclear power plant licensing process. The surge comes after Oklo revealed its engagement with the US Nuclear Regulatory Commission (NRC) for a pre-application readiness assessment of its Aurora power plant project at the Idaho National Laboratory.

According to the company's statement, the pre-application assessment, set to begin later this month, will allow regulators to review Oklo's licensing materials ahead of the full application review. This strategic move is aimed at streamlining the formal review process and ensuring an efficient path forward for the Aurora power plant project. Oklo emphasized that this step helps to optimize the regulatory timeline and enhance the overall licensing procedure.

Investors appear to be reacting positively to this development, as it signals Oklo's commitment to advancing its innovative nuclear technology. The company plans to submit a formal combined license application later this year, which could potentially accelerate the commercialization of its advanced fission technology. This proactive approach to regulatory compliance and project development may strengthen Oklo's position in the competitive clean energy market, driving investor optimism and contributing to the stock's pre-market rally.