Oklo, newcleo to develop advanced nuclear fuel facilities in U.S.

SANTA CLARA, Calif. - Oklo Inc. (NYSE:OKLO), a $23.93 billion market cap nuclear technology company whose stock has surged over 930% in the past year, and European advanced nuclear developer newcleo announced Friday a joint agreement to develop advanced fuel fabrication and manufacturing infrastructure in the United States, with newcleo planning to invest up to $2 billion through an affiliated investment vehicle. According to InvestingPro analysis, Oklo’s current trading price of $162.14 suggests the stock is trading above its Fair Value.

Swedish nuclear technology developer Blykalla is also considering co-investing in the projects and procuring fuel-related services, according to the companies’ statement.

The partnership aims to establish multiple projects under U.S. oversight to create what the companies describe as a "robust and resilient fuel ecosystem." Specific projects and investment amounts will be detailed in forthcoming agreements.

The collaboration includes potential co-investment into and co-location of fuel fabrication facilities, with possible repurposing of surplus plutonium in accordance with U.S. safety and security requirements.

"Fissioning surplus plutonium is the best way to eliminate a legacy liability while creating an abundant near-term fuel source," said Jacob DeWitte, co-founder and CEO of Oklo.

Stefano Buono, founder and CEO of newcleo, stated the partnership "promotes an integrated closed-loop fuel cycle" and demonstrates that "the U.S. and Europe can lead in this sector."

Secretary of the Interior Doug Burgum characterized the agreement as supporting "President Donald J. Trump’s American Energy Dominance Agenda," adding that the administration is "committed to enhancing energy security, creating more American jobs, and ensuring that the United States remains at the forefront of global energy production."

Oklo develops fast fission power plants and was the first company to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant. Newcleo, launched in 2021, focuses on designing Gen-IV Advanced Modular Reactors cooled by liquid lead and fueled by reprocessed nuclear waste.

The information in this article is based on a press release statement from the companies.

In other recent news, Oklo Inc. has been selected by the U.S. Department of Energy for the Advanced Nuclear Fuel Line Pilot Projects. This initiative aims to accelerate the permitting, construction, and operation of nuclear facilities. In another development, the U.S. Nuclear Regulatory Commission has accepted Oklo’s Principal Design Criteria for an expedited review, completing the process in just 15 days. This is significantly faster than the typical review period, with a draft evaluation expected by early 2026. Additionally, Oklo has entered into a strategic partnership with Sweden’s Blykalla AB, involving a $5 million investment commitment. This partnership focuses on technology collaboration, supply-chain coordination, and regulatory knowledge-sharing. Canaccord Genuity has initiated coverage on Oklo with a Buy rating and a $175 price target, viewing the company as a potential leader in the evolving nuclear energy sector.

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