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Oklo Signs LOI With Centrus to Secure High-Assay Low-Enriched Uranium

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Advanced nuclear developer Oklo has signed a letter of intent with Centrus Energy (LEU) to purchase domestic high-assay low-enriched uranium (HALEU) starting in 2029, the company said on Thursday.

Access to domestically-sourced HALEU is the primary bottleneck slowing the commercialization of next-generation small modular reactors, it said, underscoring the significance of the LOI.

This agreement provides Oklo with fuel certainty for multiple years of reactor core operations at a time when the broader industry is scrambling for non-Russian enriched uranium.

The deal paves the way for a definitive contract that may include upfront prepayments from Oklo to Centrus to support the fuel supply ramp-up, the company said.

To lock in the execution phase, Oklo has also partnered with Kiewit Nuclear Solutions under a new memorandum of understanding for engineering, procurement, and construction planning.

Centrus plans to blend these private commitments with billions in capital alongside a $900 million US Department of Energy HALEU task order.

The fuel will supply a portion of Oklo's envisioned 1.2-gigawatt Clean Energy Campus in Pike County, Ohio.

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