Oklo now trading on NYSE

May 14, 2024, 7:01AMNuclear News
Concept art of Oklo's Aurora Powerhouse microreactor. (Image: Gensler)

After completing its business combination with AltC Acquisition Corp, Oklo Inc. began trading on the New York Stock Exchange under the ticker symbol OKLO this past Friday, May 10.

The company is aiming to provide clean, reliable, affordable nuclear energy to customers across the artificial intelligence, data center, energy, defense, and industrial markets. Sam Altman, chairman of Oklo since 2015 and former chief executive of AltC, called the first day on the NYSE a milestone for the entire team.

“As one of the initial investors in the company, I’ve seen firsthand how Oklo has proven itself to be a clean energy leader and innovator, developing a cost-competitive go-to-market strategy and solidifying important relationships with regulators, customers, and suppliers. There are huge growth opportunities ahead,” Altman said.

Behind the scenes: Oklo is developing next-generation fission reactors to produce advanced technology, such as the Aurora Powerhouse microreactor, which produces 15 MW of electrical power and is scalable to 50 MWe. Each unit can operate for 10 years or longer before refueling, and Oklo hopes deploy the microreactor on a global scale.

The company also touts its fast reactors, which incorporate inherent safety features and can be fueled by recycled waste.

Funding: Oklo received $306 million in gross proceeds from its transaction with AltC, which will go to support its business plan and fund the initial deployment of the Aurora Powerhouse.

Oklo's owner-operator model has garnered interest across established and growing markets, including AI, data centers, energy, defense, and industrials. The company will focus on selling power directly to customers under long-term contracts, which aims to provide consistent, recurring revenue and cash flow streams.

Oklo also has partnerships with Diamondback Energy Inc., one of the largest independent shale oil producers, and Centrus Energy Corp.

Related Articles

Securing the advanced reactor fleet

May 17, 2024, 3:00PMNuclear NewsBen Cipiti, Katya Le Blanc, and Cory Hatch

Physical protection accounts for a significant portion of a nuclear power plant’s operational costs. As the U.S. moves toward smaller and safer advanced reactors, similar protection...

2024: The State of Advanced Reactors

January 19, 2024, 3:07PMNuclear NewsMatt Wald

Designs for high-tech products, and the start-ups that offer them, will always outnumber the commercial successes. Ditto: many more power plants are proposed than actually get built, no matter...

2023 in Review: January–March

January 10, 2024, 9:32AMNuclear News

Another calendar year has passed. Before heading too far into 2024, let’s look back at what happened in 2023 in the nuclear community. In today's post, compiled from Nuclear News and Nuclear...