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Oklo Inc. ("Oklo" or the "Company"), an advanced fission technology and nuclear fuel recycling company, and AltC Acquisition Corp. ("AltC") (NYSE:ALCC), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement (the "transaction"). Upon closing of the transaction, the combined company will operate as Oklo and is expected to be listed on the New York Stock Exchange under the ticker "OKLO."
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230711306917/en/
AltC was co-founded by Sam Altman and Churchill Capital in July 2021 to combine the technology thought leadership and deep industry relationships of Mr. Altman with the public markets expertise of Churchill Capital to provide public investors access to a compelling "hard tech" opportunity.
Mr. Altman serves as CEO of AltC and has served as Chairman of Oklo since 2015.
Mr. Altman said, "I am thrilled to announce this partnership that provides the opportunity for AltC's shareholders to become investors in Oklo and fund the first deployment of the Aurora powerhouse. I think the two most important inputs to a great future are abundant intelligence and abundant energy. I have long been interested in the potential that nuclear energy offers to provide clean, reliable, and affordable energy at great scale."
Mr. Altman continued, "I was fortunate to meet Jake and Caroline from Oklo in 2013. I recruited Oklo to Y Combinator in 2014 and additionally invested in the business in 2015, becoming Chairman. It has been a pleasure to be involved with Oklo over the last eight years and I strongly believe it is the best positioned player to pursue commercialization of advanced fission energy solutions. Oklo is underpinned by demonstrated technology and has a design approach that is expected to reduce plant complexity, costs, and construction time, allowing for streamlined deployment. Oklo has a site and fuel secured for its first plant, which it expects to be online in 2026 or 2027, and it has strong and growing customer interest in future deployments. Lastly, and most important to me, Oklo benefits from a strong founder-led team with deep technical expertise. I am excited to support this important milestone for Oklo and look forward to continuing to build the business with Jake and Caroline as a public company."
Posted In: ALCC