WASHINGTON — The U.S. is planning to distribute plutonium left over from Cold War-era weapons to commercial nuclear developers as part of the Trump administration’s efforts to accelerate the rollout of new reactors.

The Department of Energy has selected Oklo Inc. and four other firms for advanced negotiations to participate in the Surplus Plutonium Utilization Program, the Santa Clara, California-based company said in a statement Tuesday.

Closely held Exodys Energy, Shine Technologies, Standard Nuclear and Flibe Energy Inc. were also competitively selected for negotiations, the Energy Department said.

Under the program, the U.S. will supply almost 20 metric tons of weapons-grade plutonium that can be converted into reactor fuel. Oklo is one of dozens of companies designing new nuclear power plants and has warned of potential shortfalls in the uranium supply chain that may hinder deployment. However, critics warn that distributing weapons-grade plutonium could lead to security concerns, and point to previous government efforts that have been costly failures.

“This program creates a pathway to use existing surplus material as bridge fuel for advanced reactors to bring more reactors online sooner,” Oklo Chief Executive Officer Jacob DeWitte said in the statement. “Material that has been set aside for disposal can instead be converted into fuel to produce electricity through fission.”

Oklo will partner with the European nuclear provider Newcleo to use the material. Oklo shares gained 4.3% to $68.70 as of 4 p.m. in New York on Tuesday.

The Energy Department announced last year it would be accepting applications for the materials after previous efforts to turn some weapons-grade plutonium into fuel for commercial reactors failed, costing taxpayers billions.

“The Surplus Plutonium Utilization Program is anticipated to help companies unlock the next level of private funding to broaden domestic nuclear fuel supplies, spur innovation on American recycling technologies, and unlock private sector funding to fuel the nation’s nuclear renaissance,” the Energy Department said in a statement Tuesday.

Nuclear has regained some public support in the artificial-intelligence era because it can supply carbon-free power around the clock as demand for electricity climbs. Fission power is tantalizing to hyperscalers and governments seeking to win the AI race, but the technology is still unproven commercially and it will likely be several years before any new reactors are in service.

The plutonium program has doubters, especially after previous U.S. efforts to convert weapons-grade material into reactor fuel faltered. The first Trump administration in 2018 pulled the plug on a federal effort in South Carolina after cost estimates for the Mixed Oxide Fuel Fabrication Facility swelled to nearly $48 billion with a completion date in the 2040s.

Revisiting the idea raises concerns about safety and proliferation, according to Edwin Lyman, director of nuclear power safety for the Union of Concerned Scientists.

“Knowing how complex and expensive it is to convert the material into reactor fuel, it just makes no sense that any private entity would be able to take this on and execute such a dangerous project,” Lyman said in an email. “The safest and most secure way to dispose of this surplus plutonium — an incredibly dangerous waste product — is to bury it deep underground.”

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