Oklo Inc. (NYSE:OKLO) has disclosed a partnership with newcleo, a European developer of advanced nuclear reactors, to build advanced fuel fabrication and manufacturing facilities in the United States.
Details
The planned investments will cover several U.S.-regulated projects aimed at enhancing transatlantic collaboration, bolstering energy security, and establishing a reliable nuclear fuel supply chain.
The partnership enhances each company's capacity to meet rising global energy demand through potential co-investment and shared fuel fabrication facilities.
Also Read: Oklo And Other Nuclear Stocks — Powered By The Department Of Energy
Newcleo plans to invest up to $2 billion through an affiliated investment vehicle, upon customary approvals.
Blykalla, a Swedish nuclear technology firm, is also evaluating co-investment opportunities and may procure fuel-related services from the projects.
Management Commentary
“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,” Jacob DeWitte, co-founder and CEO of Oklo said.
“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,” stated Stefano Buono, founder and CEO of newcleo.
Recent Key Events
This week, Oklo saw its shares surge nearly 700% year-to-date, outperforming the S&P 500’s 12% gain.
This month, the company announced that the U.S. Department of Energy (DOE) selected it for a pilot project.
Price Action: OKLO shares are down 2.54% at $158.01 at the last check on Friday.
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