Oklo Inc. (NYSE: OKLO) and Standard Nuclear have signed a memorandum of understanding to explore commercial collaboration on nuclear fuel recycling and advanced fuel manufacturing, according to a press release from the companies.

The agreement establishes a framework for the two companies to evaluate recycled nuclear material offtake from Oklo's planned fuel recycling facility in Oak Ridge, Tennessee. The collaboration would focus on reprocessed uranium and uranium-transuranic material streams from used nuclear fuel, which could serve as feedstock for Standard Nuclear's TRISO fuel manufacturing.

The MOU also covers potential collaboration on the utilization of U.S. surplus plutonium for advanced reactor fuel. Both companies were recently selected by the U.S. Department of Energy among five firms for advanced negotiations under its Surplus Plutonium Utilization Program. Under the agreement, the companies intend to evaluate opportunities to work together on facilities, licensing, packaging, and transportation related to surplus plutonium conversion.

Oklo co-founder and CEO Jacob DeWitte said the collaboration with Standard Nuclear "helps support the domestic supply chains needed to deploy advanced nuclear at scale." Standard Nuclear CEO Kurt Terrani described the partnership as "a compelling pathway to source feedstock materials" for the company's TRISO fuel manufacturing and radioisotope power systems.

The U.S. has accumulated nearly 100,000 metric tons of used nuclear fuel, which Oklo has identified as a potential energy resource. Oklo is also developing Pluto, a plutonium-fueled fast test reactor intended to demonstrate the use of surplus plutonium as fuel for advanced reactors.

Standard Nuclear describes itself as the only independent developer of TRISO fuel for advanced reactors in the United States, offering fuel supply for both terrestrial and space applications.