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.
READIsraeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...