Proterra went public via a SPAC merger with ArcLight Clean Transition in a $1.6bn deal.

Proterra, an innovator in commercial vehicle electrification technology, went public via a SPAC merger with ArcLight Clean Transition, a publicly traded special purpose acquisition company, in a $1.6bn deal. "As demand for zero-emission solutions continues to grow around the globe, we are proud to be meeting our customers' needs with our industry-leading EV technology. Today's milestone is a testament to the hard work of our team and the support of our valued customers, partners and investors. We are excited to build on the strong foundation we have created over the past decade and begin this new chapter as a publicly-traded EV technology leader. We remain focused on advancing our EV technology to power the world's best performing commercial vehicles, and believe today is a major step forward in our ability to accelerate these initiatives," Jack Allen, Proterra Chairman and CEO. On Jun2 11, 2021; ArcLight Clean Transition announced shareholder approval for its $1.6bn SPAC merger with Proterra.