DOE Surplus Plutonium Selection Adds Another Fuel Pathway

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DOE Surplus Plutonium Selection Adds Another Fuel Pathway

Company Report

May 26, 2026 Oklo Inc (OKLO)

Rating: DOE Surplus Plutonium Selection Adds Another Fuel PathwayOUTPERFORM

Price:

$65.88 Oklo was selected by the U.S. Department of Energy for advanced negotiations

12-Month Price Target: under the Surplus Plutonium Utilization Program, alongside four other advanced

$110.00 nuclear companies. The program aims to convert designated surplus plutonium

into fuel for advanced reactors under stringent U.S. security and safeguards

requirements, with Oklo partnering with European AMR developer newcleo to

Analysts lead utilization efforts. Oklo’s partnership with newcleo, the European developer

Dan Ives of advanced nuclear reactors, would be leveraged with OKLO leading surplus

(212) 344-2073 plutonium utilization while newcleo would bring fuel experience and potentialDan.Ives@wedbush.com

Steven Wahrhaftig project capital. The Surplus Plutonium Utilization program would act as a

(212) 931-7059 pathway for disposition through use: converting material into fuel for advanced

steven.wahrhaftig@wedbush.com reactors to generate electricity and consumption through fission under stringent

Sam Brandeis security, safeguards, and material control requirements to turn long-term material

(212) 222-3005 management into domestic energy sources.sam.brandeis@wedbush.com

Anish Jog ● Incremental fuel optionality, not a standalone solution. Fuel supply

(917) 747-3095 constraints remain among the most significant bottlenecks to advanced reactor

anish.jog@wedbush.com deployment, and today's selection adds a fourth pathway alongside HALEU

enrichment, used fuel recycling, and the A3F fuel fabrication program. We view