Sustainable battery technology provider Sakuu to go public via SPAC merger deal

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Sakuu Corporation, a sustainable battery provider, will become a publicly traded company, following a business combination agreement with , a special purpose acquisition company (SPAC).

Post-closing, the combined entity will be renamed Sakuu Holdings Inc. and is anticipated to be traded on a US national exchange.

Sakuu’s existing equity holders are anticipated to hold approximately 80% interest in the pro forma company.

With an enterprise value of around $705 million, Sakuu has invented Kavian additive manufacturing platforms to produce SwiftPrint batteries and other active devices.

Sakuu’s platforms are used to manufacture next-generation lithium (Li) metal batteries and Li-metal all- for industries including e-mobility, aerospace, grid energy storage, and electric vehicles.

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The sustainable battery technology provider has two facilities — a solid-state battery pilot line facility and an additive manufacturing engineering facility, both located in , California.

Robert Bagheri — Sakuu Founder and CEO said: “Our high-volume Kavian solution for printing batteries can potentially leap-frog decades of manufacturing stagnation.

“With this proposed merger, the strong support of the exceptional leadership team at Plum, and our dedicated investors, we feel Sakuu is well-positioned to create a paradigm shift in complex manufacturing, starting first with batteries.”

Sakuu expects to raise around $100 million in private and public capital as part of the closing of the transaction.

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The battery technology company anticipates to use the proceeds from the transaction to commercialize its battery technologies.

Sakuu is said to have existing purchase orders exceeding $300 million in 2023-2025.

Ursula Burns — Plum Acquisition Chairwoman said: “I’ve always been fascinated by fundamental step changes in approach that unlock significant value in otherwise incrementally evolving industries.

“Sakuu represents an opportunity for such a fundamental step change in manufacturing through its high-volume, multi-material, additive manufacturing Kavian platform – something that has impressed even a printing industry veteran like me.”

The close of the merger is expected to occur in third quarter of 2023, subject to regulatory approvals and certain customary closing conditions.

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Plum Acquisition is founded by Ursula Burns, Kanishka Roy, and Mike Dinsdale.


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