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It’s been a minute since I’ve done a DD thread on a SPAC, but $SV caught my eye. An experienced management team, a focus on sustainability/ESG (a hot sector with no signs of cooling off), and a trail of breadcrumbs/clues to follow makes this under the radar SPAC one to watch.
Spring Valley Acquisition Corp. $SV is a SPAC focused on acquiring a $1B+ enterprise value company in the sustainability/ESG industry. Through additional research, this has been narrowed down to services/tech in renewable energy, power, energy storage, transportation.
$SV is led by an experienced team of clean/renewable energy executives. While the management team is diverse, there is definitely a common theme among them - clean/alternative fuels (hydrogen/biofuels) mobility, fuel cells, energy storage, and mobility technologies.
Did I mention the team was stacked with experience? Debora Frodl was previously GE’s global alternative fuels leader and led the charge to decarbonize the commercial fleet industry and is on the board of directors for XL Fleet $XL, a former sustainability/ESG SPAC (PIC).
Christopher Sorrells (CEO), William Quinn (Chairman of the Board), and Jeffrey Schramm (CFO) all worked at NGP Energy Technology Partners, a sustainability private equity fund. NGP sponsored $SBE, a SPAC merging with EV charging company ChargePoint. https://ngpenergycapital.com/about-ngp-etp/
Why does this matter? CEO Chris Sorrells commented on a LinkedIn post saying $SV would be pursuing a deal in the “same type of sectors NGP ETP invested in but just bigger deal” - renewable energy, power, storage, energy efficiency, transportation.
So who is $SV going to acquire? One name I like is Form Energy. Form Energy is developing cost-effective, multi-day energy storage systems. Form’s battery would eliminate the need for coal and gas, and allows for a 100% renewable, carbon free grid. https://formenergy.com
