Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Solid Power aims to ship first solid-state battery cells by year-end to BMW, Ford
Solid Power aims to ship first solid-state battery cells by year-end to BMW, Ford
Solid Power, a developer of solid-state batteries for electric vehicles that combined with Decarbonization Plus III in December 2021, aims to begin shipping pre-production battery cells by year-end for validation testing by partners BMW and Ford Motor, the company said on Monday.
In an interview, Doug Campbell, Solid Power’s chief executive and co-founder, said the Colorado company has set up a pilot production line to provide validation samples to automakers while looking for a manufacturing partner to begin producing its cells as early as 2026. One prospective partner, he said, is Korea’s SK Innovation, which is building joint-venture battery plants with Ford in Tennessee and Kentucky.
READPABLO AIR enters Korean urban air mobility market together with Vertical Aerospace, other leading technology companies
PABLO AIR CEO Kim Young-Joon, a member of the Born2Global Centre, announced that it had launched a consortium with LG Uplus, Jeju Air, GS Caltex, Kakao Mobility, and Vertical Aerospace to commercialize K-UAM and signed a business agreement to participate in the Korean government’s “Korea Urban Air Mobility Grand Challenge (K-UAM GC).”
Britain’s Vertical Aerospace—a leading global UAM aircraft manufacturer that has already received pre-orders for more than 1,350 eVTOLs from the global market—will be in charge of producing UAM aircraft for the consortium. The company is currently scheduled to perform a UAM pilot flight at the upcoming 2024 Paris Olympics. It closed its combination with Broadstone in December 2021.
READSelina Reports First Quarter 2022 Performance, Updates Timing of Combination Completion
Selina, the fast-growing lifestyle and experiential hospitality brand targeting Millennial and Gen Z travelers which has entered into a business combination agreement with BOA Acquisition Corp. (NYSE: BOAS), today announced that the company generated first quarter 2022 Total Revenue of $39.9 million, a 150.8% increase from the first quarter of 2021. Selina’s portfolio of 155 open and secured properties that span the globe produced strong quarterly operational results, continuing the positive momentum from a record-setting 2021 with an average quarterly Occupancy Rate of 51.1%, an increase of 57.1% Y-o-Y.
On December 2, 2021, Selina announced a proposed merger with BOA Acquisition Corp., a publicly traded special purpose acquisition company. The transaction, which is subject to customary closing conditions, is now expected to close in the third quarter of 2022.
READUSPS expects to boost purchase of electric delivery vehicles
The U.S. Postal Service (USPS) said on Wednesday it is seeking to boost the number of electric delivery vehicles it plans to buy as it modernizes its network for a new delivery plan. The USPS currently plans to buy at least 10% EVs including 10,019 of an initial $2.98 billion order of 50,000 from Oshkosh Defense. The Postal Service said it is exploring options for accelerating production of the initial 10,019 BEVs toward the front of the line and “anticipates taking advantage of the flexibility built into the contract with Oshkosh to increase the number of BEVs purchased in the initial delivery order.”
The new delivery strategy includes placing large carrier operations inside unused mail processing plants and “dramatically improving transportation efficiency by eliminating unnecessary trips, reducing mail handlings, increasing reliability, and decreasing time to delivery,” USPS said.
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At the SPAC of Dawn During a week in which rare earth mining and space de-SPACs have seen major gains, another blast from the past is making serious waves in the market. EV battery developer QuantumScape (NYSE:QS) rose to a 52-week high of $13.79 yesterday and is cruising even higher in the pre-market. The company...
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...