PRESS RELEASE3 MIN READ
- Oklo begins trading today under the new ticker symbol “OKLO” after completing its business combination with AltC Acquisition Corp.
- Oklo received approximately $306 million of gross transaction proceeds to support its business plan.
- Oklo plans to supply provide clean, reliable, affordable energy to customers across the artificial intelligence, data center, energy, defense, and industrial markets, among others.
- Oklo announces its newly appointed board of directors comprised of proven industry leaders with Sam Altman serving as chairman of the board.
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Oklo Inc. (NYSE: OKLO) (“Oklo” or the “Company”), a fast fission clean power technology and nuclear fuel recycling company, will begin trading on the New York Stock Exchange (NYSE) under the new ticker symbol “OKLO,” effective at market open today, following the completion of its business combination with AltC Acquisition Corp. (“AltC”) (the “transaction”) on May 9, 2024.
“We are excited to complete our business combination with AltC and we look forward to advancing our mission to provide clean, reliable, and affordable energy through the design and deployment of advanced reactor technology. I’m proud of what our team has accomplished to date and I am eager to continue this journey alongside our customers, partners and shareholders,” said Jacob DeWitte, Co-Founder and Chief Executive Officer of Oklo.
Sam Altman, Chairman of Oklo since 2015 and former Chief Executive Officer of AltC, said, “Today is a milestone for the entire Oklo team. As one of the initial investors in the company, I’ve seen first-hand how Oklo has proven itself to be a clean energy leader and innovator, developing a cost-competitive go-to-market strategy, and solidifying important relationships with regulators, customers, and suppliers. There are huge growth opportunities ahead. With Jake, Caroline, and the rest of the management team at the helm, I am confident they will continue pioneering advanced fission energy solutions as a public company.”
The Company has received $306 million in gross proceeds from the transaction before taking into account expenses associated with the transaction, which is expected to be used to execute Oklo’s business plan and fund the initial deployment of the Company’s Aurora powerhouse. Oklo stands well-positioned to drive successful long-term growth and shareholder value creation through the combination of the funding received from the transaction coupled with its unique set of strategic agreements. Key agreements include partnerships with Diamondback Energy, Inc., one of the largest independent shale-oil producers, and Centrus Energy Corp. Moreover, the recent approval of the Safety Design Strategy for the Oklo Aurora Fuel Fabrication Facility marks an important step in the U.S. Department of Energy’s approval process.
Oklo's owner-operator model aligns with customer preferences and has generated interest across established and growing markets, including artificial intelligence, data center, energy, defense, and industrials. The Company will focus on selling power directly to customers under long-term contracts, which aims to provide consistent, recurring revenue and cash flow streams.
The composition of Oklo’s Board of Directors brings together an array of industry leaders with significant expertise and experience. Members include Sam Altman (Chairman), former CEO of AltC, and CEO of OpenAI; Michael Klein, former Chairman of AltC; Jacob DeWitte, Co-Founder and CEO of Oklo; Caroline Cochran, Co-Founder and COO of Oklo; Lieutenant General (Ret.) John Jansen of the United States Marine Corps.; Richard Kinzley, retired Chief Financial Officer of Black Hills Corporation (NYSE: BKH); and Chris Wright, CEO of Liberty Energy Inc. (NYSE: LBRT).
Oklo will be ringing the opening bell at the NYSE in New York City on May 24, 2024, to celebrate the Company's public listing. Watch the bell-ringing ceremony here: https://www.youtube.com/@NYSEofficial/streams.
About Oklo Inc.: Oklo Inc. is developing fast fission power plants to provide clean, reliable, and affordable energy at scale. Oklo received a site use permit from the U.S. Department of Energy, was awarded fuel material from Idaho National Laboratory, submitted the first advanced fission custom combined license application to the Nuclear Regulatory Commission, and is developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories.