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Advanced nuclear technology company Oklo (NYSE: OKLO) said on May 26, 2026 that the U.S. Department of Energy (DOE) has selected it for advanced negotiations under the Surplus Plutonium Utilization Program, a federal effort to turn roughly 20 tonnes of designated surplus plutonium into fuel for next-generation reactors. The decision, confirmed in subsequent reporting by World Nuclear News on May 27 and reflected in trading on May 28, names Oklo alongside Exodys Energy, SHINE Technologies, Standard Nuclear and Flibe Energy as the five companies progressing to the negotiation phase.
Plutonium as Bridge Fuel for Advanced Reactors
The program, first laid out by DOE in October 2025, asks private companies to put forward detailed recycling and processing plans, with funding commitments and schedules, to use surplus plutonium materials sitting in U.S. government inventories. Applications were due by November 21, 2025. Oklo said its selection supports a broader fuel strategy that combines fresh high-assay low-enriched uranium (HALEU), reprocessed used fuel and now plutonium as ways to get its first reactors online while domestic enrichment capacity ramps up.
"Fuel supply constraints are a key throttle to advanced reactor development," Oklo co-founder and CEO Jacob DeWitte said. "This program creates a pathway to use existing surplus material as bridge fuel for advanced reactors to bring more reactors online sooner."
Transatlantic Partnership With Newcleo
Under the proposal, Oklo would lead utilization of the surplus plutonium while France-headquartered reactor developer newcleo would bring fuel-handling experience and potential project capital, subject to definitive agreements and U.S. security, safeguards and material accountability requirements. The two companies first announced a strategic partnership in October 2025, including an investment of up to $2 billion via a newcleo-affiliated vehicle for advanced fuel fabrication infrastructure in the United States.
Newcleo, which is developing a Small Modular Lead-cooled Fast Reactor and mixed-oxide (MOX) fuel fabrication, kicked off pre-application engagement with the U.S. Nuclear Regulatory Commission earlier this year. "We are proud of this transatlantic partnership with Oklo to deliver on our promise of reducing nuclear liabilities through our fuel and reactor technologies," newcleo CEO and founder Stefano Buono said.
Why It Matters for the SMR Race
Plutonium disposition has been a decades-long policy headache for the U.S. government, with the cancelled MOX plant at Savannah River Site as the most visible failure. Routing the material into commercial advanced reactors instead of long-term storage would give Oklo's Aurora design, a fast-neutron reactor based on heritage from the Experimental Breeder Reactor II, a fresh fuel pathway as it works toward its first commercial deployments. The selection also lands at a moment of intense federal focus on nuclear, following recent DOE actions including a recent $94 million award to eight companies to speed U.S. SMR deployment.
Broader Context: A Crowded Field
The plutonium selection comes as advanced reactor developers race for licensing and supply-chain wins around the world. Sweden's Blykalla recently applied to build the country's first six-SMR power plant, and renewables continue to set generation records, with U.S. solar, wind and hydropower powering an 11% jump in clean electricity in Q1 2026 according to the Energy Information Administration. For Oklo, however, the immediate gating question is fuel, and the DOE selection signals federal willingness to break that gate open.
Reporting based on coverage from Oklo Inc., the U.S. Department of Energy and World Nuclear News.