Oklo Inc. (OKLO.US) and Centrus Energy Corp. (LEU.US) announced on Monday that they will pursue discussions to establish a joint venture. The partnership will focus on conversion and reduction services for High-Assay Low-Enriched Uranium (HALEU) and will promote the development of related fuel cycle technologies and supply chains. The joint venture's operations will be based at Centrus's facility in Piketon, Ohio, which is co-located with Centrus's enrichment operations and adjacent to the site of Oklo's planned 1.2-gigawatt power park. The companies stated that the joint venture aims to achieve integrated and efficient coupling of uranium enrichment with conversion and reduction processes. By co-locating these services, the partnership seeks to enhance efficiency, reduce costs, and expand domestic production capacity for advanced nuclear fuel in the United States. Oklo and Centrus indicated that developing enrichment alongside conversion and reduction services at the Piketon site should improve operational efficiency, increase domestic capacity, and help address what is widely viewed as a potential bottleneck in the nuclear fuel supply chain for the large-scale deployment of advanced nuclear technologies.