tado to go public via a SPAC merger with GFJ ESG Acquisition I in a $493m deal.

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.