TLDR:
- AltC Acquisition Corp. merges with Oklo Inc., a green fission power technology innovator.
- Oklo will become publicly traded, giving investors a chance to invest in sustainable energy solutions.
AltC Acquisition Corp. has announced its merger with Oklo Inc., a green fission power technology and nuclear fuel innovator. This merger will allow Oklo to transition from a private company to a publicly traded one, opening up investment opportunities in sustainable energy. Seven new board directors will take on key responsibilities, chosen by AltC shareholders for their expertise in technical, operational, and financial fields. Oklo is expected to receive over $306 million in gross earnings post-merger, along with a recent customer prepayment of $25 million, ensuring a strong balance sheet. Oklo’s advanced swift reactor technology, particularly the Aurora Powerhouse, is poised to meet global electricity demands and operate autonomously for decades, providing power to remote locations. The merger is set to conclude on May 9, 2024, with the new entity trading on the New York Stock Exchange under the symbol “OKLO” from May 10, 2024. AltC’s focus on strategic business transitions complements Oklo’s commitment to providing scalable, economical, and sustainable energy solutions through swift fission power plants, highlighting the unique objectives of both companies.
