Oklo, the fast fission clean power technology and nuclear fuel recycling company, has started trading on the New York Stock Exchange under the ticker symbol OKLO following the completion of its business combination with AltC Acquisition Corp. on Thursday, according to a news release.
Sam Altman, CEO of OpenAI, is the Chairman of Oklo since 2015 and former Chief Executive Officer of AltC.
“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,” Altman said in the release. “There are huge growth opportunities ahead.”
Oklo has received $306m 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’s agreements include partnerships with Diamondback Energy and Centrus Energy Corp. The recent approval of the Safety Design Strategy for the Oklo Aurora Fuel Fabrication Facility marks a step in the US Department of Energy’s approval process.
Oklo’s owner-operator model targets 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.
The composition of Oklo’s Board of Directors includes Altman (Chairman), 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; and Chris Wright, CEO of Liberty Energy.
