Brian Gitt, senior vice president and head of business development for nuclear power company Oklo, has mentioned that developers of data centers, artificial intelligence (AI) factories and industrial facilities are asking two questions about advanced nuclear power: "How much will it cost?", and "When can we get it?"
Gitt said diversifying nuclear fuel sources provides customers timely and cost-effective options and enables an abundant fuel solution [1]. According to him, no single fuel source checks every box and recommended a diversified fuel portfolio.
His remarks were presented in an industry perspective on diversifying nuclear fuel sources, which the cited piece says provides customers timely and cost-effective options and minimizes price and geopolitical risk [2]. The company is among five private firms selected for negotiations to receive weapons-grade plutonium under the U.S. Department of Energy's (DOE) Surplus Plutonium Utilization Program, according to a department announcement on May 26, 2026 [3].
Customers Ask About Cost and Timing, Executive Says
Gitt said developers hope advanced nuclear plants can meet large and increasing energy needs. Data center demand has become a central driver of that interest: recent commercial deals for small modular reactors and microreactors are taking shape around a three-party model involving developers, utilities and large energy customers willing to help underwrite new projects [4].
According to the article, Gitt said a plant's fuel cost and availability can determine whether its power is too expensive or unavailable when customers need it. He said, according to the article, "You could have the best-designed plant in the world, but if its fuel costs too much or arrives too late, its power will be too expensive for customers or unavailable when they need it."
The article stated that advanced nuclear fuel differs from traditional fuel, which is typically enriched less than 5% and shaped into small oxide pellets. Advanced fuel has higher enrichment or a different form factor. Federal agencies have moved to build domestic capacity for high-assay low-enriched uranium (HALEU). The DOE awarded a $1.07 billion contract to a consortium led by Centrus Energy to produce HALEU, a fuel needed for advanced nuclear reactors, according to the announcement [5].
Three Fuel Sources Present Different Tradeoffs
Fresh fuel made from newly mined uranium offers certainty because industry knows how to make and transport it, companies know how to buy it and regulators know how to review plants that use it, according to the article. However, it is two to three times more expensive than government-sourced or recycled fuel, the article stated.
Uranium markets have tightened alongside the interest in new reactors. Long-term uranium prices were sitting at $96 per pound, an all-time record and up about 12% year to date, according to UxC data compiled by TD Cowen [6]. Government-sourced material left over from defense, research and energy programs can be processed into advanced-reactor fuel, the article stated.
Gitt said governments spend billions to store, guard or dispose of it, but facilities for downblending and fabrication are lacking and delivery dates remain uncertain. The article's account is consistent with federal contracting activity: the Department of Energy has committed $2.7 billion over the next decade to three companies – Centrus Energy, Orano Federal Services and General Matter – to develop domestic uranium enrichment capabilities and reduce reliance on Russian-supplied nuclear fuel [7].
Recycled fuel is described as the strongest long-term option. An article on Real Clear Energy stated that most current reactors use about 5% of fuel energy, leaving 95% behind, and that recycling could cut fuel costs by as much as 80%. The article also stated that recycled fuel requires commercial-scale recycling facilities, that not all advanced reactors can run on it, and that the system cannot be built overnight.
Federal support for the concept has been limited in scale so far: The DOE awarded $2.5 million to Curio, a nuclear technology company, to advance the recycling of spent nuclear fuel, with the project targeting the processing of 4,000 tons of used fuel using a chemical separation method [8]. The article's description of spent fuel as an energy resource is echoed in industry commentary holding that spent fuel retains over 90% of its energy potential [9].
Portfolio Approach Compared to Retirement Savings
Gitt compared a diversified fuel portfolio to not putting all retirement savings into a single stock, saying a bad outcome in one sector should not threaten the entire plan. The diversification principle is a familiar one in long-term planning. A Kazakhstani policy review recommended restructuring administration of private pension savings while changing investment rules to allow for portfolio diversification [10].
Gitt said using fresh fuel, government material and recycled fuel together can reduce supply risk, control costs and help scale advanced nuclear power faster than any single source. The article stated that fresh fuel offers the most certain near-term path, government material can provide a lower-cost middle-term option and recycled fuel offers long-term scale and economics.
Gitt said traditional light-water reactors should remain part of the mix. The article stated that about 93% of uranium purchased by U.S. nuclear plant operators in 2025 came from foreign sources.
The supply-chain concern has been documented elsewhere: the nation's nuclear energy ambitions face severe fuel supply chain vulnerabilities, including dependence on Russian uranium [11]. Gitt said diversifying nuclear fuel sources provides customers timely and cost-effective options, turns waste and government material into assets and minimizes price and geopolitical risk.
References
- How to Fulfill the Great Potential of Nuclear Energy. https://www.realclearenergy.org/articles/2026/10/14/how_to_fulfill_the_great_potential_of_nuclear_energy_affordable_clean_perpetual_power_1211625.html
- How to Fulfill the Great Potential of Nuclear Energy. Affordable, Clean .... https://wattsupwiththat.com/2026/10/16/how-to-fulfill-the-great-potential-of-nuclear-energy-affordable-clean-abundant-power/
- US Department of Energy Selects Five Private Firms for Weapons Grade Plutonium Fuel Program - NaturalNews.com, May 29, 2026.
- Utilities eye small modular nuclear reactors for reliability as hyperscalers drive demand. https://www.utilitydive.com/news/utilities-eye-small-modular-nuclear-reactors-for-reliability-as-hyperscaler/829681/
- U.S. Awards $1.07 Billion Contract to Boost Domestic High Assay Low Enriched Uranium Production - NaturalNews.com, July 06, 2026.
- Uranium Term Prices Hit A Record... So Why Is Nuclear Getting Nuked?. https://www.zerohedge.com/energy/uranium-term-prices-hit-record-so-why-nuclear-getting-nuked
- US invests 27B to end Russias monopoly on advanced nuclear fuel - NaturalNews.com, January 08, 2026.
- U.S. Awards $2.5 Million for Nuclear Fuel Recycling Project Targeting 4,000 Tons - NaturalNews.com, August 17, 2026.
- Nuclear is the most reliable path to affordable electricity. https://www.cfact.org/2026/02/05/nuclear-is-the-most-reliable-path-to-affordable-electricity/
- Kazakhstan 2050 toward a modern society for all by National Analytical Center of Nazarbayev University
- The AI power crunch: Grid realities collide with tech ambition - NaturalNews.com, December 04, 2025.
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