GigCapital9 has signed a non-binding letter of intent to combine with a clean energy technology company focused on post-combustion carbon capture. The proposed deal sets a pre-money enterprise value of approximately US$600 million. It also includes a potential earnout of up to US$100 million.
Proposed terms
The parties target a closing in late Q2 2027. The proposal includes a minimum of US$50 million in PIPE financing at closing. The target expects about half of that amount from existing investors and the balance from new investors.
Company background
The target is led by a team with deep expertise in energy and chemicals. It develops industrial scale clean energy technology solutions. It also works with a network of tier-one energy strategic and industrial partners.
Technology focus
The technology captures carbon emissions after combustion. It supports clean, firm power applications. Those applications are tied to rising power demand from artificial intelligence workloads.
The letter of intent is non-binding, and no definitive agreements have been signed yet. Completion remains subject to due diligence, financing, regulatory and stock exchange reviews, and shareholder approvals. More information will be provided if definitive agreements are executed.