Last year, Global Graphene Group (G3) announced plans for its subsidiary, Honeycomb Battery, to merge with a SPAC company (Nubia Brand International Corp.) in a deal worth $925 million. Earlier this month, it was announced that this business combination was completed.
Upon the completion of the business combination, the combined company was renamed Solidion Technology. Beginning on Monday, February 5, 2024, Solidion’s common stock was expected to begin trading on the NASDAQ Global Market under the new ticker symbol “STI.”
Dr. Bor Jang, the Executive Chairman of Solidion, commented: “Today represents a momentous achievement for our company. Having developed a cost-effective process for mass-manufacturing green graphite anode materials from sustainable biomass sources, Solidion’s years of in-depth R&D and manufacturing experience in graphite and other anode and cathode materials put it in a unique position to capitalize on the rapidly changing EV battery materials market. As a public company with enhanced access to capital, we plan to continue building on our extensive battery IP portfolio to further expand the range of advanced battery materials we offer and help transform the EV battery space into a solid-state battery industry.”
Jaymes Winters, the Chief Executive Officer of Solidion, added: "We believe Honeycomb’s track record of performance and expertise in battery technologies, combined with the investment by Nubia and the continued acceleration of the EV battery market, will allow Solidion to extend its leading industry position, and we are looking forward to seeing what we can accomplish in this new phase of the company’s existence."