Advanced nuclear energy company Oklo has gained entry into a critical U.S. Department of Energy (DOE) program, triggering a significant pre-market stock surge. According to reports on Tuesday, the DOE has selected Oklo to advance to the final negotiation stage for the Surplus Plutonium Utilization Program. This initiative aims to provide designated surplus plutonium materials to industry participants for conversion into advanced nuclear reactor fuel, contingent on meeting stringent U.S. safety, security, and material accountability requirements. Following the announcement, Oklo's stock price surged nearly 12% in pre-market trading.

This selection carries significant weight. Oklo will lead the surplus plutonium utilization efforts in collaboration with European advanced nuclear reactor developer newcleo, which will contribute relevant fuel expertise and potential project capital. Oklo co-founder and CEO Jacob DeWitte stated that fuel supply constraints represent a key bottleneck for advanced reactor development. This program provides a pathway to utilize existing surplus materials as a transitional fuel for advanced reactors, aiding in the faster deployment of more reactors. Program Core: Converting Nuclear Waste into an Energy Asset According to Oklo's announcement, the DOE selected a total of five advanced nuclear energy companies, including Oklo, to participate in these final negotiations. The core rationale of the program is "disposition through use" – transforming existing surplus materials into fuel for advanced reactors. By generating electricity through fission and consuming these materials, the long-term challenge of material management is converted into a domestic energy source, all under strict safety, security, and material control requirements. This selection also supports Oklo's broader fuel strategy. The company stated its strategy encompasses multiple sourcing pathways to support advanced reactor deployment, while domestic uranium enrichment and fuel infrastructure continue to expand. Transatlantic Collaboration: newcleo Brings Capital and Technology The collaboration between Oklo and newcleo dates back to October 2025. At that time, the two companies announced a strategic partnership to jointly develop advanced fuel manufacturing infrastructure in the United States. The collaboration includes potential work related to surplus plutonium, all subject to the execution of final agreements, receipt of customary approvals, and meeting U.S. safety and security requirements. The partnership involves an investment of up to $2 billion from newcleo affiliates through a dedicated vehicle, with the specific amount dependent on mutually acceptable documentation terms and industry conditions. In February 2026, newcleo initiated pre-application engagement with the U.S. Nuclear Regulatory Commission (NRC) for an advanced fuel manufacturing facility and its lead-cooled fast reactor design, preparing for the deployment of its fuel manufacturing and reactor facilities in the U.S. market. newcleo CEO and founder Stefano Buono expressed pride in this transatlantic collaboration and looked forward to fulfilling the commitment to reduce the nuclear burden through fuel and reactor technologies. He also noted that the United States is progressing its fuel cycle in a visionary manner. Company Background: Pioneers in the Advanced Nuclear Energy Sector Oklo is an advanced nuclear technology company focused on developing fast fission power plants. Its business covers supplying clean, reliable energy, building domestic supply chains for critical isotopes, and nuclear fuel recycling. The company is the first to receive a site use permit from the U.S. DOE for a commercial advanced fission power plant. It has previously received fuel authorization from Idaho National Laboratory and submitted the first custom combined license application for an advanced reactor to the NRC. Additionally, Oklo is collaborating with the U.S. DOE and national laboratories to develop advanced fuel recycling technologies. newcleo is an innovative nuclear energy company developing liquid lead-cooled advanced modular reactors (AMR) and nuclear waste reprocessing fuel. It reported revenue exceeding $80 million in 2024, has secured over $750 million in private financing, employs more than 900 staff across Europe and the United States, and has established a network of over 100 industry partnerships.