Oklo signs Centrus fuel contracts for Ohio Aurora deliveries from 2029
Prepayments will help fund U.S. enrichment capacity, with enough HALEU for up to five Aurora powerhouses over multiple years.
Ines Halvorsen
Fuel deliveries are scheduled to begin in 2029 for up to five Aurora powerhouses under definitive contracts Oklo Inc. NYSEOKLO announced on Thursday. The purchase backs the first phase of its planned 1.2-gigawatt Ohio campus, but the companies did not disclose the contract value or prepayment amount. Supplier Centrus Energy Corp. NYSELEU will provide high-assay low-enriched uranium, or HALEU, under multiple multi-year agreements.
Oklo develops fast-fission power plants. The contracts formalize a June 18 letter of intent that anticipated further negotiations over a definitive agreement and possible prepayments. Oklo will now make advance payments to help build new U.S. enrichment capacity at Centrus.
Power customer Meta Platforms, Inc. NASDAQMETA said on Jan. 9 the Ohio campus could supply the PJM market as early as 2030. Thursday's announcement says Meta's prepayment for future electricity supports Oklo's fuel purchase.
Oklo traded at US$26.15 at 10:38 a.m. EST on Nov. 11 on the NYSE, according to NYSEOKLO. Centrus closed at US$112.17 at 4:00 p.m. EST on Nov. 11 on the NYSE, according to NYSELEU.
"These agreements support our initial Ohio deployments and provide fuel for future Aurora powerhouses," Oklo chief executive and co-founder Jacob DeWitte said in Thursday's release.
Prepayments Will Help Build Enrichment Capacity
Centrus' Nov. 12 release puts customer contracts and commitments for low-enriched uranium and HALEU from new capacity at US$5.4 billion. The supplier reports that aggregate across both fuel categories and does not break out Oklo's share.
Centrus said in the release that its first new centrifuge had begun shipping as part of the expansion. Oklo's advance payments will help finance that buildout, so the fuel purchase also supports construction of the capacity needed to supply it.
The definitive agreements replace the earlier framework for negotiating fuel purchases with signed supply contracts. They secure a domestic supplier commitment for the initial deployments, while delivery still depends on the enrichment expansion and the wider fuel supply chain.
The announcement gives no uranium tonnage, exact number of supply years, annual delivery schedule or specific contractual conditions. Its risk disclosures identify deconversion and fuel-fabrication capacity, additional financing and government approvals as continuing uncertainties, including approvals from the Nuclear Regulatory Commission and Department of Energy.
Oklo says the purchase also covers future Aurora deployments and later refueling of its planned Idaho Aurora-INL powerhouse. Its first Idaho reactor has a separate allocation of recovered Experimental Breeder Reactor II fuel. The company also develops isotope-production technology alongside its power business.
Read more: Oklo reports DOE clearance for Groves-1 research operations
Oklo said in January that it owned the 206-acre Ohio site, formerly held by the Department of Energy. It scheduled pre-construction and site characterization for 2026; Thursday's announcement does not update those activities.
Oklo's Jan. 9 timetable targeted the first Ohio phase as early as 2030, with incremental expansion to 1.2 gigawatts by 2034. Those January dates were development targets; the next dated fuel milestone in Thursday's announcement is the start of Centrus deliveries in 2029.
