Oklo Stock In Spotlight After Announcing $2B Pact For Advancing US Nuclear Fuel Ecosystem
Synopsis
Oklo said that newcleo plans to invest up to $2 billion via a newcleo-affiliated investment vehicle.
Oklo (OKLO) shares rose over 1% before the bell on Friday after the company and European advanced nuclear reactors developer newcleo announced a joint agreement to develop advanced nuclear fuel fabrication and manufacturing infrastructure in the United States.
The company said that newcleo plans to invest up to $2 billion via an affiliated investment vehicle. Oklo added that Blykalla, Sweden's advanced nuclear technology developer, is also considering co-investing in the same projects and procuring fuel-related services from the projects.
Oklo noted that the investments aim to span multiple projects under U.S. oversight, foster transatlantic cooperation that enhances energy security, and focus on creating a robust and resilient fuel ecosystem. The company added that specific projects and investment amounts will be detailed in forthcoming definitive agreements.
Under the One Big Beautiful Bill (BBB) introduced by U.S. President Donald, tax credits retained in the bill reduce investment risks for advanced nuclear reactors,
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