Oklo is developing its sodium-cooled fast-reactor Aurora powerhouses, while Newcleo and Blykalla are both developing lead-cooled small modular reactor technology, with Newcleo aiming to use reprocessed nuclear fuel to power its reactors, helping to close the nuclear fuel cycle.
Newcleo is planning to invest up to USD2 billion "via an affiliated investment vehicle", with the investment spanning "multiple projects under US oversight" and aiming to "foster transatlantic cooperation that enhances energy security, and focus on creating a robust and resilient fuel ecosystem. Specific projects and investment amounts will be detailed in forthcoming definitive agreements".
The announcement said "the partnership strengthens all parties' abilities to supply the growing global demand for energy. This effort includes co-investment into, and co-location of, fuel fabrication facilities and could include repurposing surplus plutonium in a manner consistent with established US safety and security requirements".
It added that Blykalla "is also considering co-investing in the same projects, and procuring fuel-related services from the projects".
Stefano Buono, founder and CEO of Newcleo, said: "This strategic partnership proves that energy independence relies on advanced fuels and promotes an integrated closed-loop fuel cycle. Newcleo and its partners are ready to add value to the transatlantic cooperation in providing clean, safe and secure energy."
Jacob DeWitte, co-founder and CEO of Oklo, 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."
Secretary of the Interior and Chairman of the USA's National Energy Dominance Council, Doug Burgum, said the "agreement to implement Newcleo's advanced fuel expertise into Oklo's powerhouses and invest USD2 billion into American infrastructure and advanced fuel solutions is yet another win" for US President Donald Trump's "American Energy Dominance Agenda".
Background
Oklo's Aurora powerhouse is a fast neutron reactor that uses heat pipes to transport heat from the reactor core to a supercritical carbon dioxide power conversion system to generate electricity. Building on the design and operating heritage of the Experimental Breeder Reactor II (EBR-II), which ran in Idaho from 1964 to 1994, it uses metallic fuel to produce electricity and usable heat, and can operate on fuel made from fresh HALEU or used nuclear fuel.
Newcleo is developing its Small Modular Lead-cooled Fast Reactor (SM-LFR) technology. According to Paris-headquartered Newcleo's delivery roadmap, the first non-nuclear pre-cursor prototype of its reactor is expected to be ready by 2026 in Italy, the first reactor operational in France by the end of 2031, while the final investment decision for the first commercial power plant is expected around 2029.
Blykalla - formerly called LeadCold - is a spin-off from the KTH Royal Institute of Technology in Stockholm, where lead-cooled reactor systems have been under development since 1996. The company - founded in 2013 as a joint stock company - is developing the SEALER (Swedish Advanced Lead Reactor) lead-cooled SMR.
The three companies already have some existing partnerships between them.
A Joint Technology Development Agreement signed last month saw Oklo and Blykalla agree to share insights on materials, components, non-nuclear supply chain sourcing, fuel fabrication, and licensing best practices across the USA and Sweden.
Together the two companies will examine shared suppliers for reactor-agnostic equipment to improve availability, schedules, and cost. Under the agreement, Oklo may also supply select components for Blykalla's direct use to strengthen a vertically integrated, potentially cross-border, supply chain. Oklo may also provide fuel fabrication services to Blykalla. In parallel, Oklo and Blykalla will pursue targeted R&D and regulatory analysis to boost reliability and lower lifecycle costs without requiring design changes.
The agreement includes Oklo co-leading Blykalla's next investment round through a commitment of about USD5 million.
And in February this year Blykalla and Newcleo signed an agreement for the joint research and development of materials for lead-cooled fast reactors (LFRs). The partnership entails the exchange of materials, results, and associated data to assist the respective R&D programmes of each party.
Oklo is a listed company on the New York Stock Exchange where its share price has increased from around USD16 a year ago to USD164 as of Friday morning, giving it a valuation of more than USD24 billion.
_77790.png)
_59102.jpg)
_99967.jpg)
_49833.jpg)
