Solid Power to go public via SPAC

The solid-state battery start-up Solid Power will become a publicly traded company later this year through a merger with a special purpose acquisition company (SPAC), a public firm formed to find and execute a deal like this. The move values Solid Power at $1.2 billion and will add about $650 million to its working capital. Solid Power says its lithium-sulfide battery cells can give an electric vehicle a range 50–75% greater than that provided by a conventional lithium-ion battery pack. In May, the firm completed a $130 million series B funding round led by Ford and BMW.