PRESS RELEASE4 MIN READ
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Oklo Inc. (NYSE: OKLO) (“Oklo”), an advanced nuclear technology company, and newcleo, a European developer of advanced nuclear reactors, today announced a joint agreement to develop advanced fuel fabrication and manufacturing infrastructure in the United States. Subject to customary approvals, newcleo plans to invest up to $2 billion via a newcleo-affiliated investment vehicle. Blykalla, Sweden's advanced nuclear technology developer, is also considering co-investing in the same projects, and procuring fuel related services from the projects.
The investments aim to span multiple projects under U.S. 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.
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 U.S. safety and security requirements.
“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,” said Jacob DeWitte, co-founder and CEO of Oklo.
“This strategic partnership proves that energy independence relies on advanced fuels and promotes an integrated closed-loop fuel cycle. newcleo and its partners are ready to add value to the transatlantic cooperation in providing clean, safe and secure energy. The agreement proves that the U.S. and Europe can lead in this sector,” said Stefano Buono, founder and CEO of newcleo.
By channeling large-scale transatlantic investments into the American advanced nuclear industry, the partnership exemplifies newcleo’s and Blykalla’s interest in the U.S. market and supports the domestic expansion of Oklo’s fuel and fast-reactor technologies. Partnerships like this show how allied collaboration can strengthen energy innovation, leadership, and dominance in the United States.
“This agreement to implement newcleo's advanced fuel expertise into Oklo's powerhouses and invest $2 billion into American infrastructure and advanced fuel solutions is yet another win for President Donald J. Trump's American Energy Dominance Agenda,” said Secretary of the Interior and Chairman of the National Energy Dominance Council Doug Burgum. “This administration is committed to enhancing energy security, creating more American jobs, and ensuring that the United States remains at the forefront of global energy production and innovation, and I'm honored to support today's announcement to advance these goals.”
The partnership aligns private capital with federal priorities to accelerate advanced nuclear deployment while bolstering U.S. energy security and transatlantic cooperation and strengthening the domestic fuel supply.
About Oklo Inc.: Oklo Inc. is developing fast fission power plants to deliver clean, reliable, and affordable energy at scale, establishing a domestic supply chain for critical radioisotopes, and advancing nuclear fuel recycling to convert nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories.
About newcleo: Since launching in 2021 newcleo has quickly established itself as an innovator in the field of nuclear energy. newcleo is working to design, build, and operate Gen-IV Advanced Modular Reactors (AMRs) that are cooled by liquid lead and fuelled by reprocessed nuclear waste. Through an innovative combination of existing and proven technologies, and by reviving a nuclear industry model based on the manufacture and multi-recycling of Mixed Oxide fuel, newcleo aims to close the nuclear fuel cycle while safely producing clean, affordable, and practically inexhaustible energy required for low carbon economies. With €70 million euros group turnover in 2024, €570 million euros of private funding and over 100 partnerships and collaborations across the nuclear industry, the growth of the newcleo group is supported through the targeted acquisition of key companies with strong capabilities in nuclear engineering, manufacturing, and waste management. Through its workforce of over 1000 highly qualified employees across France, Italy, Switzerland, Slovakia, and the UK newcleo is not only developing and delivering the skills and services required for the group’s own ambitious project timelines, but also supporting the development of Small Modular Reactor supply chains in Europe and beyond.
For Press Inquiries
Ricardo Berjano Andolfi
Italy and EU Media Relations Executive
+39 331 6468736
ricardo.berjano.andolfi@newcleo.com
About Blykalla: Blykalla is the Swedish developer of advanced SMRs, commercializing lead-cooled fast reactors for industrial use. Based on 25 years of research, their SEALER technology is a compact 55 MWe unit designed to offer a safe, efficient, and scalable power solution. The OECD Nuclear Energy Agency's annual SMR dashboard shows that Blykalla has the most mature advanced reactor concept in Europe. With strong backing from partners such as Uniper, ABB, and KSB, Blykalla is well positioned to deliver Europe's first advanced SMR, providing reliable and sustainable baseload energy to power AI and clean industries.
For more information, please contact
Alexandra Teorell
Email: alexandra.teorell@blykalla.com
Phone: +46 768617373