Aquaron listed on the Nasdaq following a $50 million IPO in October 2022. Aquaron CEO Yi Zhou called the agreement with Huture a “tremendous step forward.”
“We believe that Huture is a leader in the hydrogen fuel cell industry in China, and that they are now poised to transform the hydrogen energy ecosystem to offer the world a solution of zero emission hydrogen mobility and decarbonizing economies,” Zhou said.
Merger Approval and Future Prospects
Boards of directors for both Aquaron and Huture have approved the merger. The parties confirmed that Huture shareholders will retain a majority of the outstanding shares of the combined business upon closing, and Huture will designate all proposed directors for the combined company’s board.
