Atomic Alchemy is developing a small fast reactor specifically designed for medical and industrial isotope production — a unique SMR application targeting a multi-billion dollar market currently dominated by aging research reactors. The company was selected for the DOE Reactor Pilot Programme in August 2025 targeting criticality by July 4, 2026. Atomic Alchemy's reactor produces radioisotopes used in cancer treatment, cardiac imaging, and industrial non-destructive testing. Oklo acquired Atomic Alchemy on February 28, 2025 for a total purchase price of $28.4 million ($900,000 cash plus 820,840 shares of Oklo common stock at $33.39 per share). Atomic Alchemy's Versatile Isotope Production Reactor (VIPR) technology gives Oklo a US-based radioisotope supply chain, diversifying into a market estimated at $55.7 billion by 2026 across healthcare diagnostics, cancer treatment, industrial applications, space and defence; Oklo's fast reactors naturally produce radioisotopes as byproducts that Atomic Alchemy can capture and sell, and Atomic Alchemy intends to begin production in 2026. Another record listed this facility at 1 MW.