Oklo partners with newcleo to convert Cold War plutonium for advanced reactors
In brief
- Oklo selected by DOE as one of five companies for Surplus Plutonium Utilization Program
- Partnership with newcleo targets US-based advanced fuel fabrication facilities
- newcleo signals up to $2B investment contingent on regulatory approval
- Oklo stock surged 5% on announcement, reaching approximately $69.51
Strategic agreement targets fuel fabrication
Oklo established a strategic agreement with newcleo on October 17, 2025. The partnership is designed to develop US-based advanced fuel fabrication facilities that could serve both companies' reactor designs. newcleo has signaled it could invest up to $2 billion in US infrastructure as part of the collaboration, though that figure remains contingent on final agreements and regulatory approvals.
The four other companies selected alongside Oklo are Exodys Energy, SHINE Technologies, Standard Nuclear, and Flibe Energy. Rather than building one massive government facility, the DOE is engaging multiple private-sector companies with varying technologies and reactor designs—a departure from past efforts.
Bridge fuel for the nuclear transition
Oklo CEO Jacob DeWitte framed the surplus material as "bridge fuel" for reactors, capturing the strategic role these weapons-grade reserves could play during the transition to advanced nuclear energy. Converting surplus plutonium into commercial reactor fuel has never been done at scale in the US.
The most notable previous attempt was the Mixed Oxide (MOX) Fuel Fabrication Facility at the Savannah River Site in South Carolina, which was ultimately cancelled. That failure underscores both the technical and political complexity of the effort.
Market reaction and company status
Oklo shares surged more than 5% during intraday trading following the announcement, reaching approximately $69.51. That's a meaningful single-day move for a company that trades on the NYSE under the ticker OKLO. Oklo is still a pre-revenue nuclear company. It hasn't built a commercial reactor yet, so the partnership and DOE selection represent early validation of its technology roadmap rather than near-term revenue.
