Sakuu Corporation has entered into a definitive business combination agreement with special purpose acquisition company Pyrophyte Acquisition Corp. II, a transaction that implies a $600 million pre-money equity valuation for the energy storage manufacturing technology company.
Following completion of the transaction, Pyrophyte is expected to be renamed Sakuu Corporation, and the combined company’s shares are expected to trade on the New York Stock Exchange under the ticker symbol SAKU. The transaction has been unanimously approved by both companies’ boards and remains subject to shareholder approvals and customary closing conditions.
Sakuu plans to use proceeds from the transaction to continue developing and commercializing its Kavian dry-electrode printing platform, prepare for anticipated commercial availability in the second quarter of 2027, and support fulfillment of customer purchase orders.
Founded in 2016, Silicon Valley-based Sakuu develops additive manufacturing technology for producing batteries, electrodes, supercapacitors, and other energy storage components. Its Kavian platform uses a fully dry manufacturing process designed to eliminate solvents and water from electrode production.
Sakuu said its manufacturing approach has the potential to reduce overall manufacturing costs by 40% to 60%, decrease factory footprints by 50%, and reduce carbon dioxide emissions by 55% compared with traditional wet-process production. The company also said its process can eliminate the use of toxic solvents and water.
The company’s technology includes its proprietary polymeric current collector and dry-printing process, which Sakuu says can support battery designs intended to reduce thermal runaway risk. The Kavian platform can also produce customized battery and supercapacitor electrodes for applications including AI data centers.
Sakuu sees AI infrastructure as an increasingly important market for its technology. The company said its systems can produce batteries and supercapacitors designed for installation close to data center servers, with higher pack energy density, lower resistance, reduced heat generation, and potential reductions in cooling and safety infrastructure requirements.
CEO Robert Bagheri and President and COO Arwed Niestroj are expected to continue leading Sakuu following the transaction. Pyrophyte’s leadership team is also expected to support the company through industry and capital markets relationships.
Cohen & Company Capital Markets is serving as exclusive financial advisor and lead capital markets advisor to Sakuu. Brookline Capital Markets is advising Pyrophyte. Nelson Mullins Riley & Scarborough is serving as legal advisor to Sakuu, while Ashurst Perkins Coie US is advising Pyrophyte.
KEY QUOTES:
“Sakuu’s technology enables energy storage manufacturers to meet the demands of the modern era. Kavian technology is not only the world’s first additive manufacturing solution to dry print high-performance battery electrodes at scale; it can also dry print supercapacitor electrodes customized for the growing power needs of AI data centers. It is the only known solution for producing heavily in-demand energy products that can be custom-printed rapidly, sustainably, and cost-effectively.”
Robert Bagheri, Founder And Chief Executive Officer Of Sakuu
“AI is a profoundly transformative technology. Energy is what makes that transformation possible. Sakuu brings transformative technology to energy storage manufacturing, a critical segment of the energy industry. Sakuu will improve the economics of AI infrastructure as well as more broadly the economics of energy storage in all its applications. It will also significantly improve the safety and the environmental footprint of AI data centers and more generally the electrification of the economy. Pyrophyte wanted to assist in bringing to market a company that makes a difference in the energy industry. After long years of technology development, Sakuu is such a company. We are proud to be part of their development path.”
Dr. Bernard J. Duroc-Danner, Chairman Of Pyrophyte Acquisition Corp. II
