Announced
Financials
Sources
Tags
Pending
Cross Border
Majority
De-SPAC
Single Bidder
Merger
Private
Acquisition
Friendly
Reverse Takeover
Electronic Components and Equipment
intelligent homes
home climate management
Germany
Synopsis
tado, a developer of energy conservation technology, agreed to go public via a SPAC merger with GFJ ESG Acquisition I in a $493m deal. "Both GFJ and tado are determined to turn up the heat on fighting against climate change in a smart way. tado already is a market leader in the very spirit of a new wave of green tech companies. We are excited to bring in capital and expertise to help them grow even stronger and foster their technology development. Around 21% of energy consumption in the EU is used for heating and cooling private housing alone. If the EU and Germany want to fulfil their commitment to becoming the world's first climate-neutral economy by 2050, there is no alternative to decarbonising the housing sector," Gisbert Rühl, GFJ CEO.
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