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AltC Acquisition Corp. (NYSE: ALCC) was established to execute mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses. Recently, AltC announced a definitive business combination agreement with Oklo Inc., a pioneer in fast fission clean power technology and nuclear fuel recycling. This merger will result in the combined company being listed on the New York Stock Exchange under the ticker symbol “OKLO” upon closing.
Oklo Inc. is at the forefront of developing next-generation fast fission power plants aimed at providing clean, reliable, and affordable energy at scale. Their innovative approach includes advanced nuclear fuel recycling technologies to reuse what is traditionally considered nuclear waste. The company has a site use permit from the U.S. Department of Energy and has secured fuel material from Idaho National Laboratory. Oklo has also submitted the first advanced fission custom combined license application to the Nuclear Regulatory Commission.
Oklo’s Aurora powerhouse, which has been named to TIME's Best Inventions of 2023 list, showcases its potential to transform nuclear waste into a valuable resource for clean energy. This cutting-edge technology has garnered significant recognition, including strategic partnerships with entities like Siemens Energy for essential components such as steam turbines and consulting support. Additionally, Oklo is progressing with constructing a commercial-scale fuel recycling facility in the U.S. by the 2030s.
The company has also recently announced several strategic agreements. These include a memorandum of understanding with Siemens Energy and a partnership with Diamondback Energy for a 20-year power purchase agreement. Furthermore, Oklo has been engaged in collaborative testing campaigns with Argonne National Laboratory and secured a land rights agreement with the Southern Ohio Diversification Initiative to develop additional powerhouses.
AltC’s role in facilitating this merger brings over $306 million in gross proceeds to accelerate Oklo’s business plan, ensuring a robust balance sheet for the combined company to execute its mission. The merger underscores a robust foundation for Oklo’s expansion and deployment of scalable clean energy solutions.
Oklo, a clean power technology and nuclear fuel recycling company, has filed a registration statement on Form S-1 with the U.S. SEC. This filing registers 62,440,080 shares of common stock that are currently unregistered for resale. These shares were previously detailed in a Form S-4 tied to Oklo's initial business combination. The filed registration does not register new shares for public issuance and does not create freely tradable shares immediately. All shares are subject to lock-up restrictions or performance vesting requirements. Shares held by Oklo's management and AltC Acquisition Sponsor are restricted, expiring in tranches over three years. The S-1 registration is not yet effective and may change.
Oklo, a company specializing in fast fission clean power technology and nuclear fuel recycling, has announced its participation in several notable upcoming investor conferences. These include the Evercore Global Clean Energy & Transition Technologies Summit on June 11-12, 2024, and the JP Morgan Energy, Power and Renewables Conference on June 17-18, 2024, both in New York. Oklo will also attend the Canaccord Genuity 44th Annual Growth Conference in Boston on August 13-15, 2024, and the Needham & Co. Industrial Tech, Robotics & Clean Tech 1x1 Conference on August 19-20, 2024, which will be held virtually. Interested parties can visit the Oklo Investor Events page or contact investors@oklo.com for more information.
Oklo, a company specializing in fast fission clean power technology and nuclear fuel recycling, has partnered with Wyoming Hyperscale to deliver 100 megawatts of clean power to a new data center campus. They have signed a non-binding letter of intent to collaborate on a 20-year Power Purchase Agreement. This partnership aims to address the growing demand for electricity driven by global digitalization and AI adoption. Both companies are committed to providing sustainable and efficient energy solutions. The announcement underscores Oklo's dedication to advancing sustainable energy practices and supporting high-efficiency operations within the data center industry.
AltC Acquisition Corp. stockholders approved a business combination with Oklo, a clean power technology company, resulting in over $306 million of gross proceeds for Oklo. The business combination is expected to close on May 9, 2024. Sam Altman will serve as the chairman of the newly appointed board of directors for Oklo.
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