Key Highlights
- Oklo and Centrus Energy (LEU) have entered into a letter of intent for multi-year domestic HALEU fuel supply
- Initial HALEU shipments are scheduled for 2029 to support up to five Aurora nuclear facilities
- Oklo shares increased 2.7% in premarket activity; Centrus Energy surged 6.8%
- Supply will originate from Centrus’s American Centrifuge Plant located in Pike County, Ohio
- Agreement may feature advance payments from Oklo to Centrus, mirroring the structure of Oklo’s Meta partnership from January 2026
Shares of Oklo advanced 2.7% during premarket hours Thursday following the announcement of a letter of intent with Centrus Energy aimed at establishing a reliable domestic source of high-assay low-enriched uranium (HALEU). Centrus Energy’s stock responded positively with a 6.8% surge.
This agreement represents significant progress in tackling one of the nuclear sector’s most persistent obstacles: securing adequate fuel supplies for advanced reactor technology.
According to the terms outlined, Centrus will deliver sufficient HALEU to operate up to five of Oklo’s Aurora nuclear facilities across several years. Initial shipments are targeted to commence in 2029.
Production will take place at Centrus’s American Centrifuge Plant situated in Pike County, Ohio. Notably, Oklo is developing a 1.2 gigawatt power facility in the same area, creating geographic synergy between fuel production and power generation.
The parties have not yet executed a final contract. This letter of intent serves as a preliminary step toward a comprehensive agreement that will require additional negotiations.
The arrangement may incorporate advance payments from Oklo to Centrus, a financing structure Oklo has previously employed. In January 2026, Oklo established a comparable framework with Meta that featured prepayment mechanisms to ensure project development certainty for its planned Aurora facility campus.
The HALEU Supply Challenge
HALEU remains scarce in global commercial markets. Currently, only Russia and China possess large-scale production capabilities. Following the U.S. prohibition on Russian uranium imports, developing domestic manufacturing capacity became strategically essential.
The U.S. Department of Energy has already allocated a $900 million HALEU task order to Centrus. The company intends to leverage this government funding alongside billions in private investment to expand production capacity.
Oklo has been developing alternative fuel strategies during the supply transition period. Its inaugural Aurora facility planned for Idaho National Laboratory is designed to utilize recovered fuel from the Experimental Breeder Reactor-II, which ceased operations in 1994.
The company has additionally explored using excess plutonium as an interim fuel source while domestic HALEU infrastructure is established.
Agreement Scope and Implications
The letter of intent creates alignment between domestic fuel manufacturing, nuclear power generation plans, market demand, and project implementation—all concentrated in southern Ohio.
Centrus characterizes the agreement as enhancing fuel security for Oklo’s Aurora deployments during a period when HALEU availability represents a primary bottleneck for advanced nuclear developers.
The partnership offers mutual advantages. For Centrus, securing a long-term supply contract strengthens the business justification for expanding operations at its Ohio production site.
Neither company has revealed specific financial details beyond potential prepayment arrangements, which will be determined through subsequent negotiations.
Oklo has not commenced construction on its Ohio campus, and the 2029 delivery schedule provides adequate time for both parties to finalize binding contractual terms.
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