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The Cold War ended more than three decades ago, but its nuclear leftovers are still very much a live issue. The US Department of Energy just picked Oklo and four other companies for advanced negotiations under its Surplus Plutonium Utilization Program, a initiative designed to turn legacy plutonium stockpiles into fuel for modern reactors.
Around 20 metric tons of weapons-grade plutonium from dismantled warheads are targeted for conversion.
From warheads to wattage
The DOE’s selection, announced on May 26, 2026, includes Oklo alongside Exodys Energy, SHINE Technologies, and two other firms. The program represents a meaningful policy pivot. For years, the US government’s default approach to surplus plutonium was disposal, essentially treating it as expensive waste to be buried. Now the strategy is reuse.
Oklo CEO Jacob DeWitte framed the opportunity in characteristically direct terms, emphasizing that fissioning surplus plutonium addresses historical liabilities while supplying a more immediate fuel source for advanced reactors.
The newcleo partnership and the $2B question
This DOE selection builds on groundwork Oklo has been laying for months. Back on October 17, 2025, the company announced a strategic partnership with newcleo, a European advanced nuclear firm, to establish fuel fabrication and manufacturing infrastructure in the US.
The headline number: newcleo plans to invest up to $2B in these domestic facilities.
The partnership specifically targets the fuel supply challenge facing advanced and small modular reactors. Oklo and newcleo are betting they can fill that gap, potentially using repurposed Cold War plutonium as one of their feedstocks, contingent on meeting US safety and security standards.
Sweden’s Blykalla is also reportedly considering participation in the initiative, which would add another international partner to what’s becoming a genuinely multinational effort to build out America’s advanced nuclear fuel supply chain.
Oklo’s relationship with the DOE isn’t new. The company was selected for pilot programs related to advanced nuclear fuel lines as far back as September 30, 2025. The surplus plutonium selection is the latest in a series of government endorsements that position Oklo as one of the DOE’s preferred partners for next-generation nuclear development.
For investors watching the nuclear energy space, the DOE’s selections carry weight that goes beyond symbolism. With five companies selected for the plutonium program, this isn’t a winner-take-all scenario. But Oklo’s combination of DOE relationships, the newcleo partnership with its potential $2B investment, and its positioning across multiple advanced fuel initiatives gives it a notably diversified footprint compared to smaller competitors.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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