Key Takeaways
- Oklo has entered into a letter of intent with Centrus Energy (LEU) for multi-year domestic HALEU fuel procurement
- Fuel deliveries are scheduled to commence in 2029, supporting up to five Aurora nuclear facilities
- Oklo stock advanced 2.7% in premarket sessions; Centrus Energy surged 6.8%
- Supply will originate from Centrus’s American Centrifuge Plant located in Pike County, Ohio
- The agreement may feature advance payments from Oklo to Centrus, mirroring Oklo’s recent Meta partnership structure
Shares of Oklo gained 2.7% during Thursday’s premarket session following the company’s announcement of a preliminary agreement with Centrus Energy to establish a reliable domestic source of high-assay low-enriched uranium (HALEU). Centrus Energy shares surged 6.8% on the announcement.
This partnership represents meaningful progress in tackling one of the advanced nuclear sector’s most pressing obstacles: securing adequate fuel supplies for next-generation reactor technology.
According to the terms outlined, Centrus Energy will provide sufficient HALEU to operate up to five Aurora nuclear facilities over several years. The initial fuel shipments are targeted for 2029.
Production will take place at Centrus’s American Centrifuge Plant facility in Pike County, Ohio. Notably, Oklo is developing a 1.2 gigawatt power generation site in the same geographical area, creating regional synergy between fuel production and energy generation.
The parties have not yet executed a final binding agreement. This letter of intent serves as a preliminary framework, with detailed terms to be hammered out in subsequent negotiations.
The arrangement may incorporate upfront payments from Oklo to Centrus, a financial structure Oklo has previously employed. Earlier in January 2026, Oklo entered a comparable agreement with Meta that featured advance funding to provide greater project certainty for its Aurora facility development.
The HALEU Supply Challenge
HALEU remains scarce in global commercial markets. Currently, only Russia and China possess large-scale production capabilities. Following the United States’ prohibition on Russian uranium imports, establishing domestic manufacturing capacity became strategically essential.
The U.S. Department of Energy previously allocated a $900 million HALEU production contract to Centrus. The company intends to leverage this government backing alongside billions in private investment to expand manufacturing capacity.
Oklo has pursued interim solutions while domestic fuel infrastructure develops. Its inaugural Aurora facility at Idaho National Laboratory is planned to operate using reclaimed fuel from the Experimental Breeder Reactor-II, which ceased operations in 1994.
Additionally, the company has explored utilizing excess plutonium as an interim fuel source during the transition period as domestic HALEU production capabilities mature.
Agreement Scope and Implications
The letter of intent creates an integrated framework connecting domestic fuel manufacturing, nuclear power development, market demand, and project implementation—all concentrated in southern Ohio.
Centrus characterizes the partnership as bolstering fuel availability for Oklo’s Aurora deployments during a period when HALEU accessibility represents a primary bottleneck for advanced nuclear developers.
The strategic value extends beyond Oklo’s interests. For Centrus Energy, securing a committed long-term customer strengthens the business rationale for expanding production capacity at its Ohio manufacturing site.
Neither company has revealed specific financial details apart from potential advance payment structures, which will be addressed during final contract negotiations.
Oklo has not yet commenced construction on its Ohio campus, and the 2029 delivery schedule provides adequate runway for both organizations to finalize binding contractual terms.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
