Green hydrogen platform H2B2 Electrolysis Technologies and publicly-traded special purpose acquisition company RMG Acquisition Corp III have entered into a definitive agreement to take H2B2 public on NASDAQ via a merger.
Under the terms of the proposed transaction, H2B2’s stockholders will roll 100% of their equity holdings into the combined public company.
Since its founding in 2016, H2B2 has become a key player in the green hydrogen energy sector.
H2B2 is focused primarily on the United States and European markets, but is also expanding in Latin America and Asia-Pacific, where H2B2 has secured a role in several strategic projects.
In particular, H2B2 has been selected as a participant in the IPCEI Hy2Tech (Important Projects of Common European Interest) programme, through which it has been approved by the European Commission to receive up to €25m in connection with H2B2’s development and manufacturing capacity for both stacks and electrolyzers.
Chief executive of RMG III Bob Mancini said: “RMG III and H2B2 are dedicated to accelerating the energy transition through the advancement of next-generation energy infrastructure.
“As a pioneer in the development of green hydrogen production facilities, and supported by an industry leading team, we are confident that H2B2 is well positioned to further expand and execute on its impressive pipeline of opportunities.”
Chief executive of H2B2 Anselmo Andrade added: “With the operations that we have underway, we are seeking to strengthen not only the international business that we are currently developing, but our operational capacity worldwide.
“The business and technological development of H2B2 will be bolstered as a result of this transaction with RMG III, thus making the energy vector of hydrogen key to decarbonization.”