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Cartesian Growth Corporation II currently lacks significant ongoing business activities. Established in New York, New York, in 2021, its core objective is to execute a business combination, which may take various forms such as a merger, asset or share acquisition, reorganization, or other similar strategic transaction with one or more existing enterprises.
InoBat and Cartesian Growth Corporation II Announce Business Combination Agreement to Accelerate Expansion of Battery Energy Storage Systems
InoBat has contracted or delivered 875 MWh of utility-scale battery energy storage systems (“BESS”) across Europe InoBat is positioning its platform to support the rapidly growing power demand from AI infrastructure and hyperscale data centers Business combination connects leading European manufacturer with Nasdaq and US institutional capital Combination provides $77.5 million in a committed PIPE and has no further cash conditions Combination values InoBat at $1.265 billion (~€1.1 billion) on a pre-money, pre-merger basis, including strategic- and EBITDA-based earnouts NEW YORK, July 27, 2026 (GLOBE NEWSWIRE) -- InoBat AS (“InoBat”), a leading European battery energy storage systems and battery technology company, and Cartesian Growth Corporation II (“Cartesian II”), a special purpose acquisition company (OTCPK: RENEF), today announced that they have entered into a definitive business combination agreement (“BCA”). The business combination (“Combination”) values InoBat at $1.265 billion (approximately €1.1 billion) on a pre-money, pre-merger basis, including consideration tied to the achievement of strategic and financial milestones.