Deal with newcleo could lead to new fabrication facilities
US advanced nuclear technology company Oklo said it has signed an agreement with Europe-based newcleo to develop advanced fuel fabrication and manufacturing infrastructure in the US.
Under the agreement, nuclear reactor developer newcleo plans to invest up to $2bn (€1.7bn). Sweden’s advanced nuclear technology developer Blykalla is also considering co-investing in the same projects and procuring fuel-related services from them.
Oklo, which has broken ground for its first Aurora nuclear power plant at a site in Idaho, said the investments aim to span multiple projects under US oversight, foster transatlantic cooperation that enhances energy security, and focus on creating a robust and resilient fuel ecosystem.
“Specific projects and investment amounts will be detailed in forthcoming definitive agreements,” a statement said.
According to Oklo, which is backed by OpenAI’s chief executive office Sam Altman, the partnership strengthens all parties’ abilities to supply the growing global demand for energy. This effort includes co-investment into, and co-location of, fuel fabrication facilities and could include repurposing surplus plutonium in a manner consistent with established US safety and security requirements.
Jacob DeWitte, co-founder and chief executive officer of Oklo, said: “Fissioning surplus plutonium is the best way to eliminate a legacy liability while creating an abundant near-term fuel source.
“It can accelerate the deployment of multiple gigawatts of advanced reactors and serve as a bridge fuel until uranium enrichment and recycling scale up.”
