Solid Power went public via a SPAC merger with Decarbonization Plus Acquisition III in a $1.2bn deal.

Solid Power, a developer of solid-state rechargeable batteries, went public via a SPAC merger with Decarbonization Plus Acquisition III, a blank check company, in a $1.2bn deal. The deal included a $165m fully committed PIPE transaction anchored by investors Koch Strategic Platforms, Riverstone Energy, Neuberger Berman funds and Van Eck Associates. "Today marks an important milestone of commercializing Solid Power's next generation of all-solid-state batteries that can alleviate the two largest passenger EV pain points: range anxiety and cost. In addition to our existing partners, Ford and BMW, we are now excited to partner with the DCRC team that shares our vision of powering a cleaner, safer and cost-effective electric future," Doug Campbell, Solid Power Co-Founder and CEO.