- The Defense Logistics Agency Energy, on behalf of the United
States Air Force and the United States Department of Defense, has
selected Oklo as the pending contractor awardee to site a
micro-reactor at Eielson Air Force Base in Alaska to provide clean,
reliable power to the facility.
- Oklo will have the opportunity to design, construct, own, and
operate the power plant to deliver clean, reliable electricity and
steam to Eielson Air Force Base in this pioneering project under a
long-term power purchase agreement.
The Defense Logistics Agency Energy on behalf of the United
States Air Force has issued a Notice of Intent to Award a contract
to Oklo Inc. to provide power and heat at the Eielson Air Force
Base as part of the Air Force's micro-reactor pilot program. This
project represents a significant stride towards ensuring a clean
and resilient energy supply for critical national security
infrastructure.
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Oklo's Aurora powerhouse (Image:
Gensler)
This selection initiates the acquisition process to potentially
award a contract to Oklo. Oklo would obtain a license for its power
plant from the Nuclear Regulatory Commission, construct the power
plant, and operate it to deliver both electricity and steam to the
Eielson Air Force Base under a long-term power purchase agreement
executed by the Defense Logistics Agency Energy. “We are honored to
be at the forefront of increasing resilience and reducing
emissions, while driving national security forward,” said Jacob
DeWitte, Co-Founder and CEO of Oklo. The Air Force micro-reactor
pilot program was initiated in response to the Fiscal Year 2019
National Defense Authorization Act, which required the Department
of Defense to identify potential military locations to site,
construct, and operate a micro-reactor.
Oklo’s power plant uses a fast reactor design based on
demonstrated technology with inherent safety characteristics. The
technology’s ability to operate independently from the grid while
providing a clean and reliable power source makes it an ideal
solution for domestic military installations critical to national
security infrastructure.
About Oklo Inc.: Oklo 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 NRC, 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.”
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,” “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. We have
based these forward-looking statements on our current expectations
and projections about future events. These forward-looking
statements include, but are not limited to, statements regarding
the DAF’s pilot micro-reactor program and Oklo’s potential
selection for such program, Oklo’s completion of the requirements
set forth in the NOITA letter, the award of a final contract to
Oklo, the construction, ownership and operation of Oklo of a power
plant for Eielson AFB, the licensing of such power plant by the
NRC, the safety profile of Oklo’s technology, the execution of a
definitive power purchase agreement by the Defense Logistics Agency
Energy, the success of Oklo’s power plants in serving Eielson AFB,
Eielson AFB’s being the first U.S. military installation to receive
electricity and steam from a commercial micro-reactor under a
long-term power purchase agreement, and the consummation of the
proposed business combination.
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 relating to Oklo’s final selection for the pilot program
discussed herein; risks related to Oklo’s ability to satisfy any
requirements set forth in the NOITA letter; risks related to the
deployment of Oklo’s powerhouses, including those that affect
Oklo’s successful deployment, construction and operation of a power
plant for Eielson AFB; risks relating to the licensing by the NRC
of the powerhouse contemplated by the pilot program discussed
herein; risks relating to the safety of Oklo’s technology; the
risks that the United States Department of Defense or the United
States Air Force in the future is unable or unwilling to proceed
with the pilot program; the risk that Oklo and the Defense
Logistics Agency Energy do not ever enter into any definitive
agreements relating to the purchase and sale of electricity or
steam for the activities noted in this release; 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 SEC by AltC, including the registration statement on Form
S-4 that AltC intends to file. 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 anticipate 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 disclaim 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 intends to file
a registration statement on Form S-4 (the “Registration Statement”)
with the SEC, which will include preliminary and definitive proxy
statements 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 business combination
and other matters to be 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 business combination. After the Registration
Statement has been filed and 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 business
combination. AltC’s shareholders and other interested persons are
advised to read, once available, 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 business combination, as well as other documents filed
with the SEC by AltC in connection with the proposed business
combination, as these documents will contain important information
about AltC, Oklo and the proposed business combination.
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 proposed
business combination. Information regarding the persons who may,
under SEC rules, be deemed participants in the solicitation of
AltC’s shareholders in connection with the proposed business
combination will be set forth in AltC’s proxy
statement/prospectus/consent solicitation statement when it is
filed with the SEC. You can find more information about AltC’s
directors and executive officers in AltC’s final prospectus filed
with the SEC on July 7, 2021 and in the Annual Reports filed by
AltC with the SEC on Form 10-K. Additional information regarding
the participants in the proxy solicitation and a description of
their direct and indirect interests will be included in the proxy
statement/prospectus/consent solicitation statement when it becomes
available. Shareholders, potential investors and other interested
persons should read the proxy statement/prospectus/consent
solicitation statement carefully when it becomes available 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230831444959/en/
Media Contact for Oklo Bonita Chester Director of
Communications and Media media@oklo.com
Christina Stenson / Michael Landau Gladstone Place Partners
(212) 230-5930
Investor Contact Caldwell Bailey / Eduardo Royes ICR,
Inc. OkloIR@icrinc.com
AltC Acquisition (NYSE:ALCC)
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