Oklo rises nearly 12% in pre-market trading! Granted senior negotiation status for the U.S. Department of Energy plutonium fuel project

Advanced nuclear energy company Oklo has obtained entry qualification for a key project from the U.S. Department of Energy, and its stock price surged significantly in pre-market trading.

According to media reports on Tuesday, the U.S. Department of Energy (DOE) has selected Oklo for advanced negotiations in the "Surplus Plutonium Utilization Program," a plan aimed at providing designated surplus plutonium materials to industry participants and converting them into advanced nuclear reactor fuel under U.S. safety, security, and material accountability requirements.

After the news was announced, Oklo's stock price jumped nearly 12% in pre-market trading.

This selection is highly significant. Oklo will lead surplus plutonium utilization efforts in collaboration with European advanced nuclear reactor developer newcleo, which will provide relevant fuel expertise and potential project capital.

Jacob DeWitte, co-founder and CEO of Oklo, stated that fuel supply constraints are a key bottleneck for advanced reactor development. The program offers a pathway to use existing surplus materials as transitional fuel for advanced reactors, helping accelerate more reactor deployments.

Core of the Program: Turning Nuclear Waste into Energy Assets

According to Oklo's announcement, the DOE has selected five advanced nuclear companies, including Oklo, for advanced negotiations.

The core logic of the program is "disposal through usage"—converting existing surplus materials into advanced reactor fuel, generating electricity through fission and consuming these materials, thus transforming long-term material management challenges into domestic energy sources under strict safety, security, and material control requirements.

This selection also supports Oklo's broader fuel strategy. The company stated that its fuel strategy encompasses multiple sourcing paths to support advanced reactor deployment, while domestic enrichment and fuel infrastructure continues to expand.

Transatlantic Partnership: newcleo Brings Funding and Technology

Oklo's collaboration with newcleo dates back to October 2025, when both parties announced a strategic partnership to jointly develop advanced fuel manufacturing infrastructure in the U.S., including potential work related to surplus plutonium. All such cooperation is subject to final agreement signing, customary approvals, and meeting U.S. safety and security requirements. The partnership involves newcleo-related parties providing investment of up to $2 billion via special vehicles, with specific amounts depending on mutually accepted contract terms and industry conditions.

In February 2026, newcleo initiated the pre-application process with the U.S. Nuclear Regulatory Commission (NRC) for advanced fuel manufacturing facilities and lead-cooled fast reactor designs, in preparation for deploying fuel manufacturing and reactor facilities in the U.S. market.

Stefano Buono, CEO and founder of newcleo, said his company is proud of this transatlantic partnership and looks forward to fulfilling its commitment to reducing nuclear burden through fuel and reactor technology. He also noted that the U.S. is advancing the fuel cycle in a visionary way.

Company Background: Pioneers in the Advanced Nuclear Sector

Oklo is an advanced nuclear technology company focused on developing fast fission power plants, with business covering clean and reliable energy supply, building domestic supply chains for key isotopes, and nuclear fuel recycling.

The company is the first to obtain a site use permit for a commercial advanced fission power plant from the DOE, has been licensed for fuel by Idaho National Laboratory, and has submitted the first customized joint license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. In addition, Oklo is working with the DOE and national laboratories to develop advanced fuel recycling technology.

newcleo is an innovative nuclear energy company developing advanced modular reactors (AMR) using liquid lead cooling and reprocessed nuclear waste fuels. In 2024, it reported revenue over $80 million, has raised over $750 million in private financing, employs more than 900 people in Europe and the U.S., and has established a network of over 100 industry partnerships.

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