Hydrogen Energy Firm Huture Announces $1 Billion SPAC Merger
(Reuters) — Hydrogen energy firm Huture said on Tuesday it has agreed to go public in the U.S. through a merger with a blank-check firm Aquaron Acquisition Corp. in a deal that would value the combined company at $1 billion.
The SPAC market has soured over the last two years due to poor financial performance and a regulatory crackdown by the U.S. securities regulator.
In past year, high profile SPAC investors William Ackman and Chamath Palihapitiya have said they will return money to shareholders after they failed to find suitable merger targets.
Huture is a China-based hydrogen-powered vehicle manufacturing company founded in 2020. It plans to trade on the Nasdaq following the merger, which is expected to be completed later this year.
The current shareholders of Huture will retain a majority in the combined company.
Related News
Related News
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
- Lighter U.S. Permian Crude Risks Losing Favor with Refiners Due to Processing Challenges
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
Comments