Oklo, Centrus Energy Explore Advanced Nuclear Fuel Joint Venture

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Written by Danny Levin, Deputy Editor for IIR News (Sugar Land, Texas)

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Summary

Oklo and Centrus Energy agreed to explore a joint venture aimed at supporting production of HALEU nuclear fuel used to power reactors.

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Oklo-Centrus Joint Venture for High-Assay Low-Enriched Uranium

Advanced nuclear technology company Oklo and nuclear fuel producer and supplier Centrus Energy agreed to discuss a joint venture "focused on deconversion services for high-assay low-enriched uranium (HALEU) and the advancement of related fuel-cycle technologies and supply chains."

Deconversion occurs after mined uranium is processed and enriched and converts the enriched uranium into a different chemical form--such as uranium oxide or uranium metal--before it is fabricated into fuel.

While most U.S. reactors currently use low-enriched uranium (LEU), the U.S. is looking to boost production of HALEU--which until 2022 the U.S. sourced almost exclusively from Russia. After the country's 2022 invasion of Ukraine, the U.S. began reducing its reliance on Russian nuclear fuel, aiming to phase it out of the U.S. nuclear mix by 2028.

"The potential joint venture would aim to enable an integrated and efficient coupling of uranium enrichment and deconversion to improve efficiency and costs through co-location, and expand domestic advanced nuclear fuel capacity to serve Oklo's needs and broader U.S. nuclear deployment," the companies said in a press release.

Oklo builds, owns and operates advanced small-scale reactors designed to generate up to 75 megawatts (MW) of electricity--primarily its Aurora Powerhouse reactor, which can be powered by both HALEU and recycled fuel. The reactors are designed for data centers, microgrids and other industrial applications.

The joint venture would take place at Centrus's Piketon enrichment site in Ohio--which currently produces LEU and also is the only U.S. plant that produces HALEU (in very limited quantities). It is co-located with Oklo's planned 1.2-gigawatt (GW) power campus that will be supported by funding from Meta Platforms. For more information, see January 13, 2026, article - Meta Boosts Nuclear Agreements, Adds Vistra, TerraPower, Oklo.

Companies' Respective Projects

Centrus is developing a multi-billion-dollar expansion of the Piketon site, which would increase manufacturing capabilities for both LEU and HALEU capacity. Industrial Info's Global Market Intelligence (GMI) Project Database can read a detailed project report.

Meanwhile, Oklo has one project in the site preparation phase: a grassroot, 75-MW nuclear plant in Idaho is designed to utilize its Aurora reactor.

The company also is evaluating construction of a nuclear fuel recycling plant in Tennessee, which has a licensing permit moving through the U.S. Nuclear Regulatory Commission (NRC) approval process. Subscribers can read more information on the Idaho and Tennessee projects.

"The parties plan to explore opportunities for potential coordination of regulatory and R&D [research and development] activities, including joint engagement with U.S. federal agencies to propose solutions that support co-location of deconversion and enrichment services."

This comes as the current administration is doing what it can to bring a nuclear renaissance to the U.S. The NRC recently approved construction of TerraPower's Natrium advanced nuclear reactor in Wyoming, while the U.S. Department of Energy in January awarded $2.7 billion in funding to uranium-enrichment companies. For more information, see March 6, 2026, article - NRC Approves Construction of Natrium Advanced Reactor in Wyoming, and January 7, 2026, article - DOE Awards $2.7 Billion to Uranium-Enrichment Companies.

Key Takeaways

• Oklo and Centrus Energy are exploring a joint venture that will expand production of HALEU fuel for nuclear reactors.
• Centrus' enrichment site in Piketon, Ohio, would house the joint venture, adding a step after enrichment called deconversion.
• Centrus is investing in boosting uranium enrichment and Oklo's investment is for small-scale nuclear reactors and fuel recycling.
• The companies will seek funding from the federal government, which is taking action to awaken a U.S. nuclear renaissance.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).