Scage International, a zero-emission solution provider focused on new energy heavy-duty commercial vehicles and e-fuel solutions, agreed to go public via a SPAC merger with Finnovate Acquisition, a blank check company incorporated in the Cayman Islands with the purpose of acquiring one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization, in a $1bn deal. “I have been an engineer in the automotive industry for nearly 18 years. Throughout my career, I have done a lot of innovative work, but this has been the most exciting one for me. We can see the near future of new energy, intelligent heavy trucks galloping all over the world. This is not only a clean energy revolution but also a gorgeous performance of artificial intelligence, and we have made it a reality. I am very grateful to my team, whose unremitting efforts have brought the company to this historic moment. I’d also like to extend special thanks to Finnovate for its trust. This proposed merger will make more people know about Scage and has given us full confidence in the future. As our next step, we plan to build lean plants in various locations, expanding the reach of Scage products to a broader audience,” Chao Gao, Scage Founder and Chairman.