The company said it will receive US$615 million from the deal with Peridot Acquisition, which gives the combined entity an implied valuation of US$1.67 billion. Houston-based Carnelian Energy Capital sponsored the special-purpose acquisition corporation (SPAC), whose investors include asset manager Franklin Templeton and Mubadala Capital, which is part of the Abu Dhabi sovereign wealth fund. (The Logic)
Skip to content
The company said it will receive US$615 million from the deal with Peridot Acquisition, which gives the combined entity an implied valuation of US$1.67 billion. Houston-based Carnelian Energy Capital sponsored the special-purpose acquisition corporation (SPAC), whose investors include asset manager Franklin Templeton and Mubadala Capital, which is part of the Abu Dhabi sovereign wealth fund. (The Logic)
Talking point: Li-Cycle extracts and resells component metals from battery manufacturing and used lithium-ion cells, a process that requires significant upfront investment in collection and processing facilities. In September 2020, it announced plans to build a US$175-million plant in Monroe County, N.Y. The company only closed an undisclosed Series C last November, and now it’s the latest Canadian cleantech firm to take advantage of the U.S. SPAC surge. Meanwhile, Saint-Jérôme, Que.-based Lion Electric, maker of battery-powered buses, will also hit the NYSE this quarter via a deal announced in November 2020.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Canada’s submarine decision just paid off for Nova Scotia’s spaceport
Briefing
MDA Space to buy control of French Earth-observation company for $920M
Meta officially unveils a $13B data-centre facility in Alberta
U of T and McMaster are anchoring a $40M life-sciences fund
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
