Oklo (OKLO) and Centrus Energy (LEU) said Monday they plan to explore a joint venture focused on deconversion services for high-assay low-enriched uranium.

The proposed joint venture would operate from Centrus' Piketon site in Pike County, Ohio, co-located with its enrichment operations and adjacent to Oklo's planned 1.2 gigawatt power campus, the companies said.

Co-locating enrichment and deconversion could improve efficiency and expand domestic capacity for advanced reactor deployment, the companies said.

Financial terms were not disclosed.

Oklo shares were down 2.3% in premarket trading, while Centrus Energy was 2.2% lower.