Scage International went public via a SPAC merger with Finnovate Acquisition in a $1bn deal.

Scage International, a zero-emission solution provider focused on new energy heavy-duty commercial vehicles and e-fuel solutions, went public via a SPAC merger with Finnovate Acquisition, a blank check company, in a $1bn deal. “Today marks a pivotal milestone in our journey to decarbonize global commercial transportation. Becoming a Nasdaq-listed company provides us with enhanced visibility and access to capital, which will allow Scage Future to accelerate the commercialization of our next-generation hybrid, battery-electric and hydrogen-fuel-cell trucks as well as our proprietary e-fuel technologies. We are grateful to the Finnovate team for their partnership and to our employees, customers and investors for their steadfast support. This transaction positions us to execute our ambitious growth strategy,” Chao Gao, Scage International Founder, CEO and Chairman.