Quanergy Systems went public via a SPAC merger with CITIC Capital Acquisition in a $1.1bn deal.

Quanergy Systems, a provider of LiDAR sensors, went public via a SPAC merger with CITIC Capital Acquisition in a $1.1bn deal. “Today marks another major milestone for Quanergy, following the significant technological, product and commercial achievements in the last few years. The capital raised from the transaction, together with the GEM facility, enables us to further our position as a leading provider of smart LiDAR solutions that are poised to transform the IoT and automotive industries by driving down cost and enabling powerful levels of automation and insights," Kevin J. Kennedy, Quanergy Chairman and CEO.