Taiwanese solid-state battery developer ProLogium plans to go public in the United States through a merger with special purpose acquisition company Translational Development Acquisition Corp. (TDAC), a move designed to help finance the company’s expansion plans and battery manufacturing facility under construction in northern France.
The proposed transaction will see ProLogium merge with the Nasdaq-listed SPAC, allowing the company to access public capital markets without pursuing a traditional initial public offering.
Following completion of the deal, the combined company is expected to operate under the name ProLogium Technology and trade on the Nasdaq exchange under the ticker symbol PRLG.
The transaction is expected to generate at least $250 million in gross proceeds. According to the companies, approximately $172.5 million will come from funds currently held in TDAC’s trust account, while additional capital is expected to be raised through a Private Investment in Public Equity (PIPE) financing round.
ProLogium said the listing would not only provide immediate funding but also improve its ability to access capital markets in the future through debt issuance or additional equity offerings.
The company has spent more than two decades developing solid-state battery technology and currently manufactures batteries at facilities in Taiwan.
Vincent Yang, founder and chief executive officer of ProLogium, said the transaction would support the company’s next phase of growth.
“Today marks a pivotal moment in ProLogium’s journey in accelerating the commercialisation of our industry-leading solid-state batteries,” said Vincent Yang, Chief Executive Officer of ProLogium.
“This Transaction is expected to provide us with the capital to fund our next phase of growth — enabling us to scale the production of our 4th-generation superfluidised inorganic solid-state batteries, advance the construction of our new gigafactory in Dunkirk, France, and support our expansion into adjacent application verticals, including data centres, aerospace and robotics, while continuing to progress in EVs,” Yang added.
TDAC Chief Executive Officer Michael B. Hoffman said the SPAC viewed ProLogium as a significant player in next-generation battery technology.
“We could not be more excited to partner with Vincent and his team on bringing ProLogium to the public capital markets,” said Michael B. Hoffman, Chief Executive Officer of Translational Development Acquisition Corp.
“We believe that ProLogium is the future of distributed, mission critical energy based on their technological foundation and the capabilities to supply next generation batteries at gigawatt scale,” Hoffman added.
A substantial portion of the capital raised is expected to support construction of ProLogium’s new battery factory in Dunkirk, France.
The company broke ground on the facility in February and plans to manufacture its fourth-generation lithium-ceramic solid-state batteries at the site.
Initially, the plant is designed to produce 0.8 gigawatt-hours of batteries annually, with completion targeted for 2028.
Drawing on manufacturing experience gained from its existing 3 GWh facility in Taoyuan, Taiwan, ProLogium plans to rapidly expand production in France after launch.
The company expects a second expansion phase to increase annual capacity to 4 GWh by 2030. By 2032, the Dunkirk facility, known as Fab 1, is projected to reach its full planned capacity of 12 GWh.
ProLogium has also indicated that the site could eventually be expanded to as much as 48 GWh in the longer term.
The project has received significant public support. The French government previously approved a subsidy package worth up to €1.4 billion for the factory, with clearance granted under European Union state aid rules.
The planned listing comes as battery manufacturers seek additional funding to scale production of next-generation technologies amid growing competition in the global electric vehicle and energy storage sectors.
