- Siemens Energy would become Oklo’s preferred supplier for steam
turbines and generator technology for its Aurora powerhouse.
- Siemens Energy would also provide consulting to support Oklo in
related design work to optimize the integration of the power
conversion systems (conventional island).
- This partnership will help develop capability for scale-up of
the Aurora powerhouse deployments.
Oklo Inc., a fast fission clean power technology and nuclear
fuel recycling company, has signed a memorandum of understanding
with Siemens Energy. This agreement designates Siemens Energy to
potentially become Oklo’s preferred supplier for rotating equipment
of the power conversion system (conventional island) for the Aurora
powerhouse. Siemens Energy would also be positioned to provide
consulting to support Oklo in design work of the conventional
island. Through this strategic partnership, the power generation
equipment of Oklo’s powerhouses is anticipated to be
cost-efficient, well-proven, and sourced from readily available
components, enabling a key catalyst for deployment scale-up and
reliability of Oklo’s advanced fission power plants.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231219519890/en/
Oklo’s Senior Director of Product, Alex
Renner, and Oklo's Director of Power Engineering, Scott Auerbach,
engage in a discussion of the industrial steam turbine package with
the Siemens Energy team. (Image: Oklo)
“Oklo is focused on providing clean, reliable, affordable power
to customers. Fast fission reactors are a proven technology to
produce heat and partnering with Siemens Energy takes steps to
secure an efficient, reliable, and scalable supply chain for
converting that heat into power in our Oklo Aurora powerhouses,”
said Alex Renner, Senior Director of Product at Oklo.
By partnering with Siemens Energy, a global leader in energy
technology, Oklo would gain access to a well-established supply
chain for its essential components critical to making power. The
partnership with Siemens Energy as a proven leader in energy
solutions would complement Oklo’s overall design philosophy for the
powerhouses, which is based on proven fast reactor technology with
hundreds of reactor years of successful operational history.
“The clean power generated by advanced nuclear is one of the key
steps to reaching a net zero future and Siemens Energy’s thermal
energy components and services complement the powerhouses being
developed by Oklo,” said Tobias Panse, Senior Vice President of
Industrial Steam Turbines and Generators with Siemens Energy.
“Working with Oklo as a preferred supplier will bring us closer to
advanced nuclear deployments and our net-zero targets.”
Siemens Energy's contributions extend beyond the supply of steam
turbine generators; they will also provide consulting to support
the design and integration of the power conversion system
(conventional island). Most importantly, this partnership
accelerates the commercialization of Oklo's advanced fission energy
solutions, addressing the global need for clean, reliable, and
affordable energy sources.
About Oklo Inc.: Oklo Inc. (“Oklo” or the “Company”) 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.
On July 11, 2023, Oklo and AltC Acquisition Corp. (“AltC”)
(NYSE: ALCC) announced that they have entered into a definitive
business combination agreement that upon closing would result in
the combined company to be listed on the New York Stock Exchange
under the ticker symbol “OKLO.”
About AltC Acquisition Corp.: AltC Acquisition Corp. was
formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses.
Forward-Looking Statements
This communication includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“estimate,” “goal,” “plan,” “project,” “forecast,” “intend,”
“will,” “expect,” “anticipate,” “believe,” “seek,” “target,”
“continue,” “could,” “may,” “might,” “possible,” “potential,”
“predict” or other similar expressions that predict or indicate
future events or trends or that are not statements of historical
matters. These forward-looking statements include, but are not
limited to, statements regarding expected market opportunity for
Oklo and the consummation of the proposed business combination
between Oklo and AltC. These forward-looking statements are based
on information available to us as of the date of this news release
and represent management’s current views and assumptions.
Forward-looking statements are not guarantees of future
performance, events or results and involve known and unknown risks,
uncertainties and other factors, which may be beyond our
control.
These statements are based on various assumptions, whether or
not identified in this communication, and on the current
expectations of Oklo’s management and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Oklo. These
forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions about Oklo that may cause our actual
results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by such
forward-looking statements. Such risks and uncertainties, include
risks related to the deployment of Oklo’s powerhouses; the risk
that Oklo is pursuing an emerging market, with no commercial
project operating, regulatory uncertainties; the potential need for
financing to construct plants, market, financial, political and
legal conditions; the inability of the parties to successfully or
timely consummate the proposed business combination, including the
risk that the approval of the shareholders of AltC or Oklo is not
obtained; the effects of competition; changes in applicable laws or
regulations; the outcome of any government and regulatory
proceedings, investigations and inquiries; each case, under the
heading “Risk Factors,” and other documents filed, or to be filed,
with the Securities and Exchange Commission (“SEC”) by AltC. If any
of these risks materialize or Oklo’s assumptions prove incorrect,
actual results could differ materially from the results implied by
the forward-looking statements relating to Oklo. There may be
additional risks that Oklo does not presently know or that Oklo
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect Oklo’s
expectations, plans or forecasts of future events and views as of
the date of this communication. Oklo anticipates that subsequent
events and developments will cause Oklo’s assessments to change.
However, while Oklo may elect to update these forward-looking
statements at some point in the future, Oklo specifically disclaims
any obligation to do so. These forward-looking statements should
not be relied upon as representing Oklo’s assessments as of any
date subsequent to the date of this communication. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
Additional Information About the Business Combination and
Where to Find It
The proposed business combination will be submitted to
shareholders of AltC for their consideration. AltC has filed a
registration statement on Form S-4 (as amended, and may be further
amended from time to time, the “Registration Statement”) with the
SEC, which includes a preliminary proxy
statement/prospectus/consent solicitation statement to be
distributed to AltC’s shareholders in connection with AltC’s
solicitation for proxies for the vote by AltC’s shareholders in
connection with the proposed transaction and other matters
described in the Registration Statement, as well as the prospectus
relating to the offer of the securities to be issued to Oklo’s
shareholders in connection with the completion of the proposed
transaction. After the Registration Statement has been declared
effective, AltC will mail a definitive proxy
statement/prospectus/consent solicitation statement and other
relevant documents to its shareholders as of the record date
established for voting on the proposed transaction. AltC’s
shareholders and other interested persons are advised to read the
preliminary proxy statement/prospectus/consent solicitation
statement and any amendments thereto and, once available, the
definitive proxy statement/prospectus/consent solicitation
statement, in connection with AltC’s solicitation of proxies for
its special meeting of shareholders to be held to approve, among
other things, the proposed transaction, as well as other documents
filed with the SEC by AltC in connection with the proposed
transaction (the “Special Meeting”), as these documents contain and
will contain important information about AltC, Oklo and the
proposed transaction.
Shareholders may obtain a copy of the preliminary or definitive
proxy statement/prospectus/consent solicitation statement, once
available, as well as other documents filed by AltC with the SEC,
without charge, at the SEC’s website located at www.sec.gov or by
directing a written request to AltC Acquisition Corp., 640 Fifth
Avenue, 12th Floor, New York, NY 10019.
Participants in the Solicitation
AltC, Oklo and certain of their respective directors, executive
officers and other members of management and employees may, under
SEC rules, be deemed to be participants in the solicitation of
proxies from AltC’s shareholders in connection with the Special
Meeting. Information regarding persons such persons who may, under
SEC rules, be deemed participants in the solicitation of AltC’s
shareholders in connection with the Special Meeting, is set forth
in the preliminary proxy statement/prospectus/consent solicitation
statement.
Information about the directors and executive officers of Oklo
and a description of their direct or indirect interests is set
forth in the sections entitled “Certain Relationships and Related
Party Transactions – Oklo’s Related Person Transactions” and
“Interests of Certain Persons in the Business Combination” included
in the Registration Statement.
Information about the directors and executive officers of AltC,
a description of their direct or indirect interests and their
beneficial ownership of AltC’s capital stock is set forth in the
sections entitled “Other Information about AltC – Management,
Directors and Executive Officers,” “Certain Relationships and
Related Party Transactions – AltC’s Related Person Transactions,”
“Interests of Certain Persons in the Business Combination” and
“Beneficial Ownership of Securities” included in the Registration
Statement. The most recent amendment to the Registration Statement
was filed on November 11, 2023, and is available at
https://www.sec.gov/ix?doc=/Archives/edgar/data/1849056/000110465923117274/alcc-20221231xs4.htm.
Shareholders, potential investors and other interested persons
should read the preliminary proxy statement/prospectus/consent
solicitation statement and any amendments thereto carefully before
making any voting or investment decisions. You may obtain free
copies of these documents from the sources indicated above.
No Offer or Solicitation
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. This communication is
not, and under no circumstances is to be construed as, a
prospectus, an advertisement or a public offering of the securities
described herein in the United States or any other jurisdiction. No
offer of securities shall be made except by means of a prospectus
meeting the requirements of Section 10 of the Securities Act of
1933, as amended, or exemptions therefrom. INVESTMENT IN ANY
SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED BY THE SEC OR ANY
OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR
ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF
THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231219519890/en/
Media Contact for Oklo: Bonita Chester, Director of
Communications and Media at media@oklo.com Christina Stenson /
Michael Landau Gladstone Place Partners (212) 230-5930
Investor Contact for Oklo: Caldwell Bailey / Eduardo
Royes ICR, Inc. OkloIR@icrinc.com
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