As a shortage for electric car batteries looms, one thing has become increasingly clear: Outside China, the powerpack supply chain is scattered and incomplete. Technologies are at various stages, there’s money backing a host of different materials across a broad array of geographies and production processes, and scale is limited. But no one has been connecting the dots. There’s a SPAC for that now.
Battery Future Acquisition Corp., or BFAC, plans to create the full value chain. That involves everything from mining raw materials like lithium to component manufacturers and end-users, to after-life battery and recycling, the firm’s offering document notes. To do this, it raised $250 million recently through a special purpose acquisition vehicle, or SPAC — a financial markets fad.
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December 02, 2021 at 05:00AM
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Finally, There's An EV Battery SPAC That Might Smooth Out the Supply Chain - Bloomberg
"smooth" - Google News
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