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.
READDespite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...