IN BRIEF: Riverstone Energy invests USD20 million Solid Power merger

Riverstone Energy Ltd - UK-based energy and power‐focused private investment firm - Buys USD20 ...

Alliance News 15 June, 2021 | 2:32PM
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Riverstone Energy Ltd - UK-based energy and power‐focused private investment firm - Buys USD20 million of Decarbonization Plus Acquisition Corporation III common stock in a private placement transaction at USD10 per share. The transaction coincides with Decarbonization Plus Acquisition's merger with Solid Power Inc, a Louisville, Colorado-based electric vehicle battery producer. Notes, Riverstone Energy invests alongside and several other new backers.

Solid Power aims to produce higher performing and safer batteries for electric vehicles on the company's pilot production line. Says, "Solid Power's all-solid-state batteries could provide a near 500-mile vehicle range on a single charge, which is 50 to 75 percent greater than any commercially available lithium-ion battery today."

Follows other decarbonisation investments in: electric vehicle battery charger manufacturers, FreeWire Technologies Inc; California-based residential solar power company, Loanpal; and hydrogen fuel cell manufacturers, Hyzon Motors.

Current stock price: 340.20 pence, down 0.2% on Tuesday afternoon

Year-to-date change: up 15%

By Scarlett Butler; scarlettbutler@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Riverstone Energy Ord 374.00 GBX 5.06

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