U.S. Department of Energy Selects Exodys Energy for Advanced Negotiations Under Surplus Plutonium Utilization Program

Exodys Energy, Inc. ("Exodys"), a nuclear fuel recycling company, announced today that it has been selected by the U.S. Department of Energy ("DOE") for advanced negotiations under the Surplus Plutonium Utilization Program. If successful, the negotiations would result in an agreement allowing Exodys to utilize designated surplus plutonium from DOE's inventory as feedstock for the production of fuel for the U.S. nuclear reactor fleet.

"There are moments when one generation quietly shapes the next several, and this is one of them," said Carl Perez, co-founder and CEO of Exodys. "Material that has sat in federal inventory for decades, representing only cost and risk to the American taxpayer, may now be transformed into the clean electricity that powers American homes, hospitals, and industry. Our application to DOE reflects years of work by some of the most experienced nuclear chemists and engineers in the country, and the gravity of what is being considered. We are humbled to be selected for advanced negotiations, and we intend to earn every step of that trust."

For Exodys, the selection sits at the intersection of three challenges for nuclear energy: the used nuclear fuel sitting in dry cask storage across the country, the federal government's inventory of surplus plutonium ($15+ billion program), as well as the cost and security of a fuel supply in a country that imports roughly 95% of its uranium. These are not separate problems. That convergence is the reason Exodys exists. The company's recycling chemistry never isolates a pure plutonium stream at any stage. Uranium and transuranic elements are co-recovered together, and the surplus plutonium is intended to be diluted directly into used nuclear fuel feedstock.

Negotiations between Exodys and DOE are ongoing. Specific material allocations and program terms will be determined through that process.

About the U.S. Department of Energy's Surplus Plutonium Utilization Program

The Surplus Plutonium Utilization Program, established under Executive Orders 14299 and 14302, is designed to convert designated surplus plutonium materials into fuel for nuclear reactors under U.S. security, safeguards, and material accountability requirements. By treating surplus plutonium as feedstock rather than a long-term storage obligation, the program creates a disposition pathway that turns a decades-old material-management challenge into a domestic source of reactor fuel.

About Exodys Energy

Exodys Energy, Inc. is a New York-based technology developer building nuclear fuel recycling infrastructure for the U.S. industry. Exodys recovers uranium and transuranic products from used nuclear fuel and from designated federal inventories, producing fuel-ready material suitable for both the existing commercial reactor fleet and advanced reactor designs. Learn more at www.exodysenergy.com.

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Material that has sat in federal inventory for decades, representing only cost and risk to the American taxpayer, may now be transformed into the clean electricity that powers American homes, hospitals, and industry.