Established in 1945, OKBM designs small power reactors, fast breeder reactors, and reactors for naval propulsion and heat generation. It is best known as the main designer for the Soviet Union's and Russia's flagship nuclear propulsion projects, including the first nuclear submarine reactor, reactors for the nuclear icebreaking fleet, and reactors for the floating nuclear power plant project.

OKBM has two operational critical assemblies, powered by highly-enriched uranium (HEU), on its site. For an overview of Russia's HEU policy and the full list of Russia's facilities using HEU, see the Russia Civilian HEU profile.

The Institute has a history of cooperation with foreign partners, and has participated in fuel development for BN and VVER reactors. OKBM also cooperates with the China Nuclear Energy Industry Corporation in designing reactors, and provides pump equipment for nuclear power plants constructed in China.