Key Takeaways
- ProLogium and Translational Development Acquisition Corp. (TDAC) secured $50 million of committed primary capital from existing ProLogium shareholders to support their proposed business combination.
- The investment values ProLogium at a pre-money valuation of approximately $3.8 billion.
- Proceeds are expected to support scale-up of ProLogium’s next-generation lithium ceramic battery production and construction of its gigafactory in Dunkirk, France.
- The Dunkirk facility is backed by a subsidy package of up to €1.375 billion from the French government.
- The company plans to use part of the funding to expand into data centers, aerospace and robotics applications.
ProLogium Adds $50 Million as TDAC Deal Advances
ProLogium, a manufacturer of next-generation lithium ceramic batteries, and Translational Development Acquisition Corp. (Nasdaq: TDAC), a special purpose acquisition company, announced they have secured commitments for a $50 million primary capital investment from a consortium of existing ProLogium shareholders. The funding supports the previously announced business combination that would make ProLogium a publicly listed company, at a pre-money valuation of approximately $3.8 billion.
Funding Tied to Dunkirk Gigafactory Construction
The investment is expected to support ProLogium’s continued scale-up of its lithium ceramic battery production and advance construction of its planned gigafactory in Dunkirk, France, a project backed by a subsidy package of up to €1.375 billion from the French government. ProLogium also plans to use proceeds to expand into adjacent applications including data centers, aerospace and robotics.
“This investment is another step forward as we work toward completing our transaction with TDAC,” said Vincent Yang, Founder and CEO of ProLogium. “It reflects the confidence our investors have in ProLogium’s technology and our ability to execute, and it brings us closer to the capital we need to scale our next-generation lithium ceramic batteries and advance our Dunkirk gigafactory.”
TDAC’s chairman and CEO echoed that confidence. “We are pleased to see continued insider investor support for ProLogium as we move toward closing,” said Michael B. Hoffman, Chairman and CEO of TDAC. “This investment represents a strong vote of confidence in the Company’s vision and is a meaningful part of the financing behind our transaction.”
ProLogium’s Battery Manufacturing Footprint
Founded in 2006, ProLogium holds more than 1,100 global patents and has delivered more than 2.4 million battery products to collaboration partners and customers. Its first gigafactory operates in Taoyuan, Taiwan, while the Dunkirk facility’s first phase, now moving into detailed design and construction, is expected to reach 4.0 GWh of production capacity by 2030.
