Hydrogen fuel cell systems, which generate electricity without creating carbon dioxide emissions from conventional gas and diesel engines, have the potential to replace lead-acid and lithium batteries in transportation vehicles, particularly for heavy-duty applications such as material handling, medium and long haul trucking, and construction and mining equipment.
Infintium Fuel Cell Systems $130M SPAC Merger : Deal Details and Future Prospects
Under the terms of the deal, existing Infintium stockholders will roll 100% of their equity into the combined company. Cash proceeds of approximately $18 million will be used to secure new manufacturing facilities and expand sales and marketing efforts.
“As hydrogen fuel cells are poised to play an increasingly important role in powering and decarbonizing industrial transportation, we believe Infintium is well positioned to become a world leader in providing hydrogen-powered solutions for the sector,” said Eddie Ni, CEO of Goldenstone.
Deal team information was not immediately available on Thursday.
