REL ANNOUNCES CLOSING OF BUSINESS COMBINATION BETWEEN SOLID POWER, INC. AND DECARBONIZATION PLUS ACQUISITION CORPORATION III
· Solid Power announced closing of its business combination with DCRC on
· Solid Power became the only pure-play solid-state battery company to trade on the public markets
· Solid Power common stock and warrants began trading on Nasdaq Global Select Market on
· Gross proceeds to Solid Power from the transaction of
· Of the shares voted at the special meeting of DCRC's stockholders, over 99.9% voted to approve the business combination
Solid Power received gross proceeds from the transaction of approximately
Prior to the business combination, REL purchased 1.66 million shares of Solid Power, which converted to shares of the combined company in connection with the business combination.
This investment, along with the recent decarbonisation investments in Decarbonization Plus Acquisition Corporation II & IV, FreeWire Technologies,
About Solid Power:
Solid Power is an industry-leading developer of all-solid-state rechargeable battery cells
for electric vehicles and mobile power markets. Solid Power replaces the flammable
liquid electrolyte in a conventional lithium-ion battery with a proprietary sulfide-based
solid electrolyte. As a result, Solid Power's all-solid-state battery cells are expected to
be safer and more stable across a broad temperature range, provide an increase in
energy density compared to the best available rechargeable battery cells, enable less
expensive, more energy-dense battery pack designs and be compatible with traditional
lithium-ion manufacturing processes.
For more information, visit https://solidpowerbattery.com/.
REL is a closed-ended investment company that invests exclusively in the global energy industry across all sectors. REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform. REL's ordinary shares are listed on the
For further details, see www.RiverstoneREL.com.
Neither the contents of
Riverstone is an energy and power‐focused private investment firm founded in 2000 by
For further details, see www.RiverstoneLLC.com
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