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AMERICAS

Sakuu, the 3D Printed Battery Manufacturer, is going public in 2023

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  • The transaction of the 3D printed battery manufacturer implies an enterprise value of approximately $US 705 million
Sakuu 3D printed battery factory
Sakuu 3D printed battery factory/Source: Sakuu Corporation

Sakuu Corporation, a solid-state 3D printed battery company, and Plum Acquisition Corp. I, a special purpose acquisition company (SPAC) founded by Ursula Burns, Kanishka Roy, and Mike Dinsdale, announced the signing of a definitive business combination agreement that will result in Sakuu becoming a publicly traded company.

After the proposed transaction is completed, the combined company (the “Company”) will be renamed Sakuu Holdings Inc. and will be listed on a US national exchange under the ticker symbol “SAKU.” The transaction has an estimated enterprise value of $705 million USD.

SwiftPrint™ 3D Printed Battery

Fully functional and high-performance 3D printed battery
Fully functional and high-performance 3D printed batteries/Source: Sakuu Corporation

Sakuu, which was founded in 2016, is commercialising next-generation lithium (Li) metal batteries and Li-metal all-solid-state batteries, which will be mass-produced using proprietary multi-material, multi-process additive manufacturing technologies. Sakuu solves fundamental challenges that are known to impede commercial-scale production of solid-state batteries by pioneering SwiftPrint™ solid-state batteries from its Kavian™ additive manufacturing platform.

SwiftPrint™ batteries also offer custom form factors and sizes, increased energy density, recyclability, and anticipated process, material, and energy efficiencies when compared to traditional battery manufacturing methods. Sakuu plans to licence its battery chemistries and sell its Kavian™ platforms to businesses looking to deploy cleaner, better, and more cost-effective energy on a large scale. Customers in multiple markets have been evaluating and testing samples of Sakuu’s safe, non-flammable high energy density Li-metal anode battery since the third quarter of 2021.

Sakuu intends to first serve the next-generation solid-state battery needs for broad industries, such as e-mobility, grid energy storage, aerospace, industrial, consumer electronics, and electric vehicles, with the Kavian™ platform and across its battery product lines (EVs).

“We are not a concept company—we have successfully and consistently printed high-performance batteries since December 2022 and, with this progress, we have entered the first stages of commercialisation. With this proposed merger, the strong support of the exceptional leadership team at Plum, and our dedicated investors, we feel Sakuu is well-positioned to create a paradigm shift in complex manufacturing, starting first with batteries.”

– Robert Bagheri, Founder and Chief Executive Officer, Sakuu

Plum Chairwoman Ursula Burns stated, “I’ve always been fascinated by fundamental step changes in approach that unlock significant value in otherwise incrementally evolving industries. Sakuu represents an opportunity for such a fundamental step change in manufacturing through its high-volume, multi-material, additive manufacturing Kavian platform – something that has impressed even a printing industry veteran like me. Solid-state batteries, and the massive addressable market associated with it, could just be Act 1 for the Company. We believe its technology has already allowed it to leapfrog many more highly capitalized battery suppliers. Plum is honored and excited to partner with Sakuu for its long-term journey in the public markets.”

Transaction Overview

Even in a 95% redemption scenario, the proposed business combination transaction is expected to result in gross proceeds of approximately USD $100 million in cash to the Company’s post-combination balance sheet after transaction expenses, through a combination of private and public capital, including structured debt and equity solutions, secured debt, and Plum Acquisition Corp. I’s cash in trust.

The business combination values the combined company at approximately USD $705 million pro forma, including the impact of the anticipated financing sources. The transaction proceeds are expected to fully support the Company during its commercialisation process. Sakuu’s current equity holders will own approximately 80% of the pro forma Company.


About Manufactur3D Magazine: Manufactur3D is an online magazine on 3D Printing. Visit our Global News page for more updates on Global 3D Printing News. To stay up-to-date about the latest happenings in the 3D printing world, like us on Facebook or follow us on LinkedIn and Twitter. Follow us on Google News.

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Manufactur3D is an Indian Online 3D Printing Media Platform that reports on the latest news, insights and analysis from the Indian and the Global 3D Printing Industry.
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