Oklo and Centrus Sign HALEU Fuel Agreement for Southern Ohio Nuclear Campus

OKLO and LEU announced a non-binding letter of intent under which Centrus Energy will supply enough domestically produced high-assay low-enriched uranium (HALEU) to fuel up to five Aurora powerhouses for multiple years, with deliveries scheduled to begin in 2029. The agreement supports Oklo's planned 1.2 GW Clean Energy Campus in Pike County, southern Ohio, where Oklo owns approximately 206 acres of land formerly held by the Department of Energy. Centrus would source the HALEU from its American Centrifuge Plant in Piketon, Ohio, making both fuel production and reactor deployment part of the same regional industrial cluster. The LOI is a preliminary agreement and does not guarantee a final contract .

The HALEU supply question has been one of the most stubborn constraints facing advanced reactor developers. HALEU, enriched to between 5% and 20% uranium-235, is required by most next-generation reactor designs including Oklo's Aurora, but the commercial supply chain is effectively nonexistent outside of Russia. Centrus operates the only NRC-licensed HALEU enrichment facility in the United States, with its initial 16-centrifuge cascade in Piketon capable of producing roughly 900 kilograms per year. The company has outlined plans for a full-scale 120-centrifuge expansion that could reach approximately 6,000 kilograms annually, though that buildout depends on securing additional funding. The Oklo LOI, if it converts to a binding contract, would give Centrus a committed customer to anchor that expansion case .

For Oklo, the Centrus agreement is one piece of a broader Ohio buildout. The company has also entered a memorandum of understanding with Kiewit Nuclear Solutions to plan engineering, procurement, and construction for the initial Aurora deployments, and a separate agreement with Meta supports the 1.2 GW campus target. Pre-construction and site characterization are expected to begin in 2026, with a first-phase online date targeted as early as 2030 and full campus capacity of 1.2 GW targeted by 2034. OKLO shares have declined roughly 15% year-to-date, reflecting broader investor caution around a pre-revenue company with a long path to commercial operation. Whether the Centrus LOI catalyzes a durable re-rating will depend on whether it converts into a binding supply contract, whether Centrus secures the funding needed to scale its enrichment capacity, and whether Oklo's permitting and construction timelines hold .