France-based newcleo is set to invest £2 billion to develop advanced nuclear fuel fabrication and manufacturing in partnership with U.S. advanced reactor company Oklo. Backed by Sam Altman, Oklo was the first firm to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant.
Under the terms of a newly signed agreement, newcleo will channel capital into several U.S. projects to advance fuel infrastructure as well as improve transatlantic cooperation on nuclear energy.
The partnership also addresses the growing demand for nuclear fuel, including plans to co-invest in and co-locate fabrication facilities, as well as potentially repurposing surplus plutonium.
Jacob DeWitte, co-founder and CEO of Oklo “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.
“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.
“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 honoured to support today’s announcement to advance these goals.”
It’s believed that Swedish producer of advanced small modular reactors Blykalla, is also considering co-investing in the projects and procuring fuel-related services.
Earlier this year Oklo and Blykalla signed a joint technology development agreement which will see Oklo co-leading Blykalla’s next investment round through a $5 million commitment and sharing insights on materials, components, non-nuclear supply chain sourcing, fuel fabrication, and licensing best practices across the U.S. and Sweden.
The partnership marked one of the first transatlantic partnerships in the advanced nuclear reactor sector.
Earlier this year, former President Donald Trump signed a series of executive orders aimed at reducing the red tape around nuclear power development in the United States.
The measures aim to streamline permitting, licensing, and approval processes that have historically slowed the construction and operation of nuclear facilities. By cutting through regulatory red tape, the administration has pushed for private investment in advanced reactor technology.
RELATED STORIES
Altman-backed startup acquires Atomic Alchemy to boost nuclear fuel supply
Datacloud Middle East 2026
Discover unparalleled inspiration and potential collaborators at Datacloud Middle East, where connectivity visionaries unite to unlock solutions to the industry’s biggest challenges.
Editor Capacity Media
