California- based Oklo said Tuesday it has been selected for negotiations with the Department of Energy to potentially receive surplus plutonium for nuclear fuel in reactor projects.
This comes after the DOE issued a request for applications in October 2025.for companies interested in being part of the federal Surplus Plutonium Utilization Program. DOE plans to make certain designated surplus plutonium material available to nuclear companies to convert the material into fuel.
Any eventual agreement would be subject to U.S. security and material accountability requirements, DOE has said.
Oklo said in a press release that it was among five nuclear companies selected. According to a Tuesday article by Reuters, Exodys Energy, Filbe Energy, SHINE Technologies and Standard Nuclear were the other companies in negotiations with DOE for the surplus plutonium.
In a partnership with newcleo, a European advanced reactor developer, Oklo said it would oversee the use of surplus plutonium, while newcleo would bring relevant fuel experience and potential project funding.
Oklo said in the press release that it and newcleo view the program as a pathway to safely convert plutonium material that already exists into fuel for advanced reactors. “In doing so, the program can turn a long-term material management challenge into a domestic energy source,” Oklo said.
The two companies entered into a strategic partnership in October 2025 to develop an advanced fuel fabrication facility in the United States, which included the use of surplus plutonium. According to the release, the partnership includes an investment of up to $2 billion, subject to certain conditions, via a newcleo-affiliated vehicle for such a project.
newcleo, founded in 2021, is a Paris-based nuclear energy company developing a mixed-oxide-fueled lead-cooled fast reactor.
In September 2025, Sen. Edward Markey (D-Mass.) wrote a letter to President Donald Trump and cautioned against the idea of DOE transferring weapons-usable plutonium to companies, such as Oklo, for proliferation reasons. In the same letter, Markey questioned Energy Secretary Chris Wright’s ties with Oklo since he was a former company board member.