Oklo plans to build small nuclear reactors and sell the affordable, emission-free power to customers under long-term contracts.
Those small reactors are projected to cost about $60M, which is billions less that nuclear utility scale plants
Noting that 38 percent of Fortune 500 companies are publicly committed to decarbonization, Okla projects a global annual spend of $2T for clean new power generation.
Altman, who chairs Oklo, said the company “is the best positioned player to pursue commercialization of advanced fission energy solutions.”
Oklo's first plant is expected to go online in Idaho in 2026 or 2027.
The SPAC deal values the company at $850M. Oklo’s stock is to trade on the New York Stock Exchange.
Gladstone Place’s Christina Stenson and Michael Landau handle the media for the SPAC deal, while ICR’s Caldwell Bailey and Eduardo Royes work the investment community.