Filed by AltC Acquisition Corp.
pursuant to Rule 425 under the Securities Act
of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company: AltC Acquisition Corp.
Commission File No. 001-40583
Date: January 31, 2024
U.S. DOE Approves the Safety Design Strategy
for the Oklo Aurora Fuel Fabrication Facility
SANTA CLARA, Calif.– Oklo Inc. (“Oklo”), a
fast fission clean power technology and nuclear fuel recycling company, has announced that the U.S. Department of Energy (DOE) has reviewed
and approved the Safety Design Strategy (SDS) for the Aurora Fuel Fabrication Facility at Idaho National Laboratory (INL). The Aurora
Fuel Fabrication Facility is being designed to demonstrate the reuse of recovered nuclear material to support Oklo’s planned commercial
advanced fission power plant demonstration at INL.
Photo
of the Aurora Fuel Fabrication Facility, Courtesy Idaho National Laboratories
Oklo was selected for access to the fuel material through a competitive
process launched in 2019 by INL. The goal of the solicitation was to accelerate the deployment of commercially viable reactors by providing
developers with access to the material needed to produce fuel for their reactors. 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 SDS approval is a major step towards a DOE approval of the
Aurora Fuel Fabrication Facility as we continue towards our goal of producing fuel for our planned Aurora commercial power plant,”
said Jacob DeWitte, co-founder and CEO of Oklo.
The SDS marks the initial stage in a comprehensive DOE approval process
prior to the operation of the Aurora Fuel Fabrication Facility. Oklo and Battelle Energy Alliance, operator of INL, are currently working
on the next phase, focusing on the Conceptual Safety Design Report (CSDR). The purpose of the CSDR is to summarize the hazard analysis
efforts and safety-in-design decisions incorporated into the conceptual design, along with any identified project risks associated with
the selected strategies.
“The approval of the SDS is an important step to enable fabrication
of fuel for the Aurora advanced fission power plant,” said Dr. Jess Gehin, INL’s associate laboratory director for Nuclear
Science and Technology. “As the nation’s nuclear energy research laboratory, we are committed to working with private companies
like Oklo to develop advanced fission technologies that will provide clean energy to the world.”
With a provisional site, fuel, and the design of the Aurora Fuel Fabrication
Facility underway, Oklo is progressing toward its goal of bringing its commercial advanced fission power plant online in the U.S.
About Oklo Inc.: Oklo Inc. 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.
About Idaho National Laboratory: Battelle Energy Alliance manages
INL for the U.S. Department of Energy’s Office of Nuclear Energy. INL is the nation’s center for nuclear energy research and
development, and also performs research in each of DOE’s strategic goal areas: energy, national security, science and the environment.
For more information, visit www.inl.gov. Follow us on social media: Facebook, Instagram, LinkedIn and X.
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, Oklo’s expectations regarding the Aurora Fuel Fabrication Facility and the Aurora
advanced fission power plant, 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 January 30, 2024, and is available at https://www.sec.gov/Archives/edgar/data/1849056/000110465924007900/tm2324337-10_s4a.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.
Media Contact for Oklo:
Bonita Chester, Director of Communications and Media at media@oklo.com
Felipe Ucrós / 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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