Oklo Inc. has executed multiple definitive, multi-year contracts with Centrus Energy Corp. for high-assay low-enriched uranium (HALEU), converting a June 18, 2026 letter of intent into binding purchase commitments backed by prepayments. The agreements mark one of the first definitive commercial HALEU supply deals tied to a specific advanced reactor deployment fleet.
Five Aurora units and a 2029 delivery start
The contracted volume is sufficient to support up to five Aurora fast-fission powerhouses for multiple years, according to the companies. Deliveries from Centrus' American Centrifuge Plant in Pike County, Ohio, are scheduled to begin in 2029. The supply covers the first phase of Oklo's planned 1.2-gigawatt Ohio power campus, future Aurora deployments, and later refueling of the Aurora-INL reactor in Idaho. Oklo's first Idaho unit has a separate allocation of recovered Experimental Breeder Reactor II fuel.
Prepayments help finance U.S. enrichment capacity
Oklo will make advance payments for future HALEU deliveries to support construction of new U.S. enrichment capacity with Centrus. Centrus said it has now secured $5.4 billion in customer contracts and commitments to purchase low-enriched uranium and HALEU from its new capacity. The company described the buildout as de-risked by a complete, unobligated supply chain serving commercial and national security markets.
Centrus President and CEO Amir Vexler said the definitive agreements demonstrate the company is ideally placed to meet the upcoming substantial commercial demand for HALEU and accelerate restoration of U.S. uranium enrichment leadership.
Disclosure gaps and execution risks
The companies did not disclose contract value or the prepayment amount. The announcement also omitted uranium tonnage, the exact number of supply years, an annual delivery schedule and specific contractual conditions. Risk disclosures point to deconversion and fuel-fabrication capacity, additional financing needs, and government approvals, including NRC and DOE actions, as factors that could affect timing.
Market participants have focused on Centrus' $5.4 billion order backlog and the Ohio infrastructure timeline. Oklo traded at $26.15 on the NYSE on Nov. 11, while Centrus closed at $112.17, according to market data cited around the announcement. A DYAX investor sentiment poll recorded 66% bullish respondents among 431 participants, though the vote reflects sentiment rather than contract economics.
The next dated milestone is the start of Centrus HALEU deliveries in 2029, ahead of Oklo's target for first Ohio power as early as 2030 and full 1.2 GW capacity by 2034.
This article was assisted by AI analysis. Please refer to the original source for official information.