Newborn Acquisition Corp. does not have significant operations. It intends to acquire, through a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination, one or more businesses or entities operating in Asia (excluding China) and the United States. The company was founded in 2019 and is based in Shanghai, China.
In the EV space, there are many companies that seem to be more hype than substance (Not going to name names but if you follow the space you know what I'm talking about). Nuvve (NBAC) seems to be the opposite, with exciting technology, fast growth, and deep-pocketed backers, but with...
Nuvve Corporation, a San Diego-based, green energy technology company and a leader in vehicle-to-grid (V2G) technology, and IoTecha Corp., an industry leader in electric vehicle (EV) smart charging technology, are joining forces to deploy and commercialize a bidirectional charging solution for electric vehicles with the Combined Charging Standard (CCS) plugs supporting the ISO/IEC15118 protocol. This approach allows automotive OEMs using the CCS plug for their vehicles to enable bidirectional energy flow on their vehicles when coupled with IoTecha and Nuvve technology. Future versions of the standard will be supported by over-the-air software updates.
Green energy technology company Nuvve Corporation ("Nuvve"), the global leader in vehicle-to-grid (V2G) technology, and Newborn Acquisition Corp. ("Newborn") (NASDAQ:NBAC, NBACU, NBACR, NBACW) a publicly traded special purpose acquisition company with approximately $57.5 million of cash in trust, today announced the signing of a definitive merger agreement to take Nuvve public. The companies today also announced the signing of definitive purchase agreements with institutional investors for the investment of approximately $18 million in the combined company through a PIPE and bridge financing. Upon closing of the business combination, the combined company will be named Nuvve Holding Corp. ("Nuvve Holding") and is expected to remain listed on Nasdaq under the ticker symbol "NVVE".