H2B2 Electrolysis Technologies, a player in the green hydrogen energy sector, has announced its merger with RMG Acquisition Corp III, a special purpose acquisition company. The agreement will enable H2B2 to go public on NASDAQ.
Under the terms of the deal, H2B2's stockholders will roll 100% of their equity holdings into the combined public company. Since its founding in 2016, H2B2 has made significant progress in the green hydrogen energy sector, with a focus on the United States and European markets, as well as expansion in Latin America and the Asia-Pacific region.
H2B2 has been selected as a participant in the IPCEI Hy2Tech programme, approved by the European Commission to receive up to €25m to further develop and manufacture stacks and electrolyzers. H2B2's CEO, Anselmo Andrade, noted that the merger with RMG III would enhance H2B2's operational capacity worldwide and make hydrogen key to decarbonization.
Bob Mancini, CEO of RMG III, said that both companies are committed to accelerating the energy transition through the advancement of next-generation energy infrastructure. He expressed confidence in H2B2's impressive pipeline of opportunities and its ability to expand further with the support of an industry-leading team.
The merger between H2B2 and RMG III reflects the growing interest and investment in the green hydrogen energy sector, which is seen as a key element in achieving a sustainable future. The deal will enable H2B2 to strengthen its position as a pioneer in the development of green hydrogen production facilities and to further advance the energy transition.
