US-based advanced nuclear technology company Oklo Inc. has signed a strategic agreement with European developer newcleo to build a nuclear fuel supply chain in the United States. The agreement includes a potential investment of up to $2bn (approximately EUR1.88bn) through a newcleo-affiliated investment vehicle, pending customary regulatory approvals.
Transatlantic deployment and energy security
The agreement covers multiple projects aimed at establishing fuel fabrication capabilities under US oversight. Swedish nuclear technology company Blykalla is considering co-investing in the projects and procuring related fuel services from the resulting facilities.
The initiative aims to establish a resilient and secure supply chain to support the growing global energy demand. The parties indicated that specific details, including project locations and amounts, will be disclosed in forthcoming definitive agreements.
Plutonium-based fuel and closed-loop cycle
The projects may involve repurposing surplus plutonium in line with established US safety standards, offering a solution for managing fissile materials while creating an immediate energy source. According to Jacob DeWitte, co-founder and Chief Executive Officer of Oklo, using existing plutonium could accelerate the deployment of multiple gigawatts of advanced nuclear reactors.
Stefano Buono, founder and Chief Executive Officer of newcleo, stated that the partnership demonstrates the importance of advanced fuels for ensuring energy independence. He also emphasised the company’s readiness to contribute to a closed fuel cycle by integrating all stages of the process.
Investments aligned with federal priorities
The partnership aims to channel private capital into the development of the US advanced nuclear sector while meeting strategic energy security priorities. It highlights the growing interest of European firms in entering the US market as the country seeks to reinforce its energy sovereignty.
The collaboration includes the co-location of several fuel fabrication facilities, targeting the growing demand for low-carbon energy while positioning the partners as key suppliers within the sector.
