Published by Global Banking & Finance Review®
Posted on October 17, 2025
1 min readLast updated: January 21, 2026
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Oklo, backed by Sam Altman, secures $2 billion from newcleo to develop U.S. nuclear fuel infrastructure, with potential co-investment from Blykalla.
(Reuters) -Nuclear technology firm Oklo said on Friday it has signed an agreement with Europe-based newcleo to develop advanced fuel fabrication and manufacturing infrastructure in the U.S.
Under the agreement, nuclear reactor developer newcleo plans to invest up to $2 billion. Sweden's advanced nuclear technology developer Blykalla is also considering co-investing in the same projects and procuring fuel-related services from them.
Shares of Sam Altman-backed Oklo were up 1.3% in premarket trading.
Nuclear power in the U.S. has been gaining traction after decades of stagnation, fueled by surging electricity demand from energy-hungry data centers and the electrification of transportation and manufacturing industries.
Oklo CEO Jacob DeWitte said 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," DeWitte said.
(Reporting by Pooja Menon in Bengaluru; Editing by Shilpi Majumdar)
Nuclear fuel is material used in nuclear reactors to produce energy through nuclear fission. Common types include uranium and plutonium, which undergo reactions to release heat, generating electricity.
Investment refers to the allocation of resources, usually money, into assets or projects with the expectation of generating a profit or income over time.
Advanced manufacturing involves the use of innovative technologies and processes to improve products and production efficiency. It includes automation, robotics, and data analytics to enhance manufacturing capabilities.
Sustainability refers to practices that meet current needs without compromising the ability of future generations to meet theirs. It often involves environmental stewardship, economic viability, and social equity.
Fission is a nuclear reaction in which the nucleus of an atom splits into smaller parts, releasing a significant amount of energy. It is the process used in nuclear reactors to generate electricity.
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