Greenberg Traurig’s advisory role in the $1.2 B SPAC merger signals strong investor confidence in European battery storage
Executive summary: Greenberg Traurig LLP advised Cartesian Growth Corporation II on the signing of a definitive business combination agreement with InoBat AS, a European battery energy storage company, to take InoBat public via a $1.2 billion SPAC merger. The deal provides InoBat with substantial capital to expand its battery production capacity in Europe and reflects continued interest from public‑market investors in the energy‑storage sector through the SPAC route.
Who is involved: Greenberg Traurig (law firm), Cartesian Growth Corporation II (SPAC sponsor), and InoBat AS (battery energy storage firm).
Likely next: The merger will require shareholder approval from Cartesian Growth II, regulatory filings with the SEC and relevant European authorities, and is expected to close in the coming months pending those steps.
Greenberg Traurig LLP served as legal counsel to Cartesian Growth Corporation II in signing a definitive business combination agreement with InoBat AS, a European battery‑energy‑storage company, to take InoBat public via a $1.2 billion SPAC merger. The transaction underscores continued interest from public‑market investors in the energy‑storage sector, especially as Europe seeks to expand domestic battery production for electric vehicles and grid stability. While the deal provides InoBat with substantial funding to scale its gigafactory footprint, it also adds to the growing list of SPAC‑driven listings in the clean‑tech space, attracting regulatory scrutiny over disclosure and valuation practices.
Timeline
- — Greenberg Traurig Advises Cartesian Growth Corporation II on $1.2B Go-Public Merger with InoBat (PR Newswire)
Analysis — what this means
Sectors affected
- Battery energy storage
- European EV supply chain
- SPAC market
Historical parallels
- 2021 merger of QuantumScape with Kensington Capital Acquisition Corp (SPAC) valued at $3.3 billion
- 2022 SPAC combination of Arrival with CIIG Merger Corp.
Key entities
Sources
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