Oklo Inc. (NYSE: OKLO) announced it has been selected by the U.S. Department of Energy for advanced negotiations under the Surplus Plutonium Utilization Program. The company was chosen alongside four other advanced nuclear companies for the program, which aims to convert designated surplus plutonium into fuel for advanced nuclear reactors.

The program operates under U.S. security, safeguards and material accountability requirements. Oklo would partner with newcleo, a European advanced nuclear reactor developer, to lead the utilization of surplus plutonium. Newcleo would contribute fuel experience and potential project capital, subject to definitive agreements and regulatory approvals.

"Fuel supply constraints are a key throttle to advanced reactor development," said Jacob DeWitte, Oklo's co-founder and CEO. "This program creates a pathway to use existing surplus material as bridge fuel for advanced reactors to bring more reactors online sooner."

In October 2025, Oklo announced a strategic partnership with newcleo to develop advanced fuel fabrication infrastructure in the U.S. The partnership includes a potential investment of up to $2 billion through a newcleo-affiliated vehicle, subject to documentation and industry conditions.

Newcleo initiated pre-application engagement with the U.S. Nuclear Regulatory Commission in February 2026 for both an advanced fuel fabrication facility and a lead-cooled fast reactor design to support future U.S. market deployment.

The information is based on a company press release. Oklo develops fast fission power plants and nuclear fuel recycling technologies. The company received the first site use permit from the DOE for a commercial advanced fission plant and submitted the first custom combined license application for an advanced reactor to the Nuclear Regulatory Commission.