ProLogium, a next-generation solid-state battery developer, has entered into a definitive business combination agreement with special purpose acquisition company (SPAC) Translational Development Acquisition Corp. that will take the company public on Nasdaq. Upon closing, the combined company will be renamed ProLogium Technology and is expected to trade under the ticker symbol “PRLG.”
Founded in 2006, ProLogium has spent more than two decades focused on commercializing solid-state battery technology. The company reached commercial-scale manufacturing of solid-state batteries in 2013 and delivered the world’s first solid-state battery demonstration vehicle with ENOVATE Motor in 2019. Since 2013, ProLogium has shipped more than 2.4 million battery cells, including over 800,000 third-generation batteries produced at its gigafactory in Taiwan.
The transaction values ProLogium at approximately $3.8 billion on a pre-money, net cash-free basis. The company plans to fund future growth through a combination of cash held in TDAC’s trust account and proceeds from a targeted common equity PIPE financing.
ProLogium’s technology portfolio includes more than 1,100 patents and patent applications globally. The company recently introduced its fourth-generation superfluidized all-inorganic solid-state battery technology, which it says combines high energy density, rapid charging, low-temperature performance, competitive costs, and enhanced safety. The battery incorporates a triple safety mechanism consisting of a non-flammable electrolyte, an all-ceramic separator, and an active safety system embedded in the electrolyte, resulting in what the company describes as zero thermal runaway risk.
The proceeds from the transaction are expected to support the expansion of fourth-generation battery production and the development of ProLogium’s planned gigafactory in Dunkirk, France. The project has received approval for a subsidy package of up to approximately €1.4 billion from the French government. Construction is expected to begin in 2026, with ramp-up anticipated between the fourth quarter of 2028 and the first quarter of 2029, followed by mass production and deliveries in the second quarter of 2029.
Beyond electric vehicles, ProLogium is expanding into emerging growth markets including AI data centers, aerospace, robotics, defense, energy storage, and smart mobility applications.
Independent third-party testing has supported the company’s performance claims. TÜV Rheinland recently validated an energy density of 360 Wh/kg for ProLogium’s latest battery, while UL Solutions verified that the company’s all-inorganic solid-state battery did not experience thermal runaway during Heat-Wait-Seek testing.
Vincent Yang, Founder and CEO of ProLogium, said the transaction represents a major milestone in the company’s commercialization journey.
KEY QUOTES:
“Today marks a pivotal moment in ProLogium’s journey in accelerating the commercialization of our industry-leading solid-state batteries. This Transaction is expected to provide us with the capital to fund our next phase of growth — enabling us to scale the production of our 4th-generation superfluidized inorganic solid-state batteries, advance the construction of our new gigafactory in Dunkirk, France, and support our expansion into adjacent application verticals including data centers, aerospace and robotics while continuing to progress in EVs.
We are excited to partner with TDAC’s best-in-class team, who shares our vision of a new energy revolution that is built with next generation solid-state batteries. Today’s Transaction is a critical step in putting our batteries in the hands of more customers, powering cutting-edge technologies and enabling a more sustainable future for all.”
Vincent Yang, Founder and CEO, ProLogium
“We could not be more excited to partner with Vincent and his team on bringing ProLogium to the public capital markets. We believe that ProLogium is the future of distributed, mission critical energy based on their technological foundation and the capabilities to supply next generation batteries at gigawatt scale. The TDAC team has been involved in the future of energy for decades, including the building of companies such as Talen Energy and Pattern Energy; we see the need for high performance distributed energy capabilities across a host of markets that are only now accessible due to the breakthrough of ProLogium’s Gen4 technology and manufacturing capabilities. ProLogium’s partnerships with some of the most impressive companies on the planet to deliver new use cases for high performance batteries demonstrate its technology leadership and we believe the company’s position as a leader in the energy future is bright.”
Michael B. Hoffman, Chairman and CEO, Translational Development Acquisition Corp.
