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The U.S. Department of Energy selected five companies, including Oklo Inc. (NYSE: OKLO), to enter advanced negotiations over access to its Surplus Plutonium Utilization Program, which aims to convert Cold War-era weapons-grade plutonium into fuel for advanced nuclear reactors. The other four companies selected are Exodys Energy, SHINE Technologies, Standard Nuclear, and Flibe Energy, according to Reuters.
The negotiations are not yet finalized, according to CNN. Stockpiles of surplus plutonium — stored behind heavy security at weapons facilities across South Carolina, Texas, and New Mexico — carry a half-life of 24,000 years and can only be safely approached with protective gear, Reuters reported. In May 2025, Trump scrapped the bulk of an existing effort to dilute and bury the plutonium, issuing a directive to redirect the material toward fueling next-generation nuclear reactors.
Oklo said it plans to develop the fuel in partnership with newcleo, a European developer of advanced nuclear reactors. Within that arrangement, newcleo's role would center on providing fuel expertise and potential project capital, with Oklo taking the lead on plutonium utilization — all contingent on final agreements, regulatory approvals, and compliance with U.S. security and safeguards requirements, the company said. The partnership includes an investment of up to $2 billion via a newcleo-affiliated vehicle, subject to mutually acceptable documentation and industry conditions, Oklo said.
