Another lithium company, ProLogium, is going public via a SPAC
$TDAC and will be listed as
$PRLG. It is a cell manufacturer out of Taiwan looking to use the expected $3.8 billion valuation to expand its solid-state battery development, including a new gigafactory in Dunkirk, France. The merger is expected to close in the second half of this year.
The media from them about this merger says they have shipped around 2.4 million cells since 2013, which by solid-state standards is up there but overall that is still closer to glove box production than anything resembling commercial scale.
Personally I think the hype on SSB is kind of overdone. It is an innovation the industry can use, but advances with plain old liquid electrolytes are already meeting many of the safety and energy requirements that SSB is touted to deliver, so I just don’t see it as the game changing, clouds parting and angels singing technology that people are pumping it as.
The SPAC price seems to be right in line with the standard redemption value. I am not sure what the exact number is but I am sure it is close. For me I am just going to keep an eye on it, more as a read on what the market thinks about a lithium-ion startup in the EU than an actual company I want to invest in, for now.