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AltC Acquisition Corp. - ALCC STOCK NEWS

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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.

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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.

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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.

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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.

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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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AltC Acquisition Corp. and Oklo Inc. have scheduled a special meeting for stockholders to approve their business combination on May 7, 2024. Oklo has made significant progress with partnerships and approvals, aiming to deliver clean, reliable, and affordable power solutions.
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Oklo and Diamondback Energy have signed a non-binding letter of intent to collaborate on a 20-year Power Purchase Agreement. Diamondback aims to use Oklo's Aurora powerhouses to power its operations in the Permian Basin.
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Oklo and Argonne successfully complete the second phase of the THETA testing campaign, enhancing the safety and economic potential of Oklo's fast fission technology. The collaboration with Argonne National Laboratory and funding from the Department of Energy Gateway for Accelerated Innovation in Nuclear voucher have been instrumental in this achievement.
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Oklo Inc. announces the signing of an Option and Right of First Refusal to Purchase Real Estate with the non-profit Southern Ohio Diversification Initiative for land including options for the siting of two powerhouses. This marks progress towards siting development and implementation of the powerhouses, positioning the region as a critical hub for the future of the U.S. nuclear industry. The agreement represents a significant step in Oklo's commitment to deploying clean, reliable, and affordable energy solutions.
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Oklo Inc. announces approval of Safety Design Strategy for the Aurora Fuel Fabrication Facility at Idaho National Laboratory by the U.S. Department of Energy. The facility is designed to demonstrate the reuse of recovered nuclear material to support Oklo’s planned commercial advanced fission power plant. Oklo was selected for access to fuel material through a competitive process launched in 2019. The DOE is supporting INL to produce High-Assay, Low-Enriched Uranium for advanced reactors by recovering uranium through electrorefining treatment on used fuel from the now-decommissioned Experimental Breeder Reactor-II. The approval of the SDS is an important step towards enabling fabrication of fuel for the Aurora advanced fission power plant. Oklo is progressing towards its goal of bringing its commercial advanced fission power plant online in the U.S.
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Oklo Inc. will host an Investor Day to provide commentary on its business model, technology, commercial and operational developments, and go-to-market strategy. The company also announced a definitive business combination agreement with AltC Acquisition Corp., expected to close in early 2024, leading to the company's listing on the New York Stock Exchange under the ticker 'OKLO.'
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FAQ

What is AltC Acquisition Corp.?

AltC Acquisition Corp. (NYSE: ALCC) is a company formed to execute mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with other businesses.

Who is Oklo Inc.?

Oklo Inc. is a company developing fast fission power plants and advanced nuclear fuel recycling technologies to provide clean, reliable, and affordable energy at scale.

What is the significance of Oklo's Aurora powerhouse?

Oklo's Aurora powerhouse has been named to TIME's Best Inventions of 2023 list and showcases the company's ability to transform nuclear waste into a valuable resource for clean energy.

What partnerships has Oklo formed recently?

Oklo has partnered with Siemens Energy for components and consulting, and Diamondback Energy for a 20-year power purchase agreement. Additionally, they have agreements with Southern Ohio Diversification Initiative and are collaborating with Argonne National Laboratory.

What is the importance of the business combination between AltC and Oklo?

The business combination between AltC and Oklo ensures a robust balance sheet with over $306 million in gross proceeds, accelerating Oklo's mission to deploy clean energy solutions.

What are Oklo's future plans?

Oklo plans to construct a commercial-scale fuel recycling facility in the U.S. by the 2030s, expand its Aurora powerhouses, and continue developing its advanced fission technologies.

How does Oklo contribute to clean energy?

Oklo contributes to clean energy by developing fast fission power plants that recycle nuclear waste into usable fuel, providing a sustainable and reliable energy source.

What awards or recognitions has Oklo received?

Oklo's Aurora powerhouse was named to TIME's Best Inventions of 2023 list, highlighting its innovative approach to clean energy through nuclear fuel recycling.

What role does Siemens Energy play in Oklo's projects?

Siemens Energy is set to become the preferred supplier for steam turbines and generator technology for Oklo's Aurora powerhouses and will provide consulting support for design optimization.

What is the financial condition of the combined company post-merger?

The combined company, following the merger, will have a strong financial position with over $306 million in gross proceeds from AltC, supporting Oklo's business growth and clean energy projects.

AltC Acquisition Corp.

NYSE:ALCC

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