While we may pursue an initial business combination target in any industry or geographic region (excluding China), we intend to focus our search on industries spearheading the shift from fossil fuels to electrification, including companies in the battery value chain from the mine site to end user to after-life battery and component recycling. We shall not undertake our initial business combination with any entity with its principal business operations in China (including Hong Kong and Macau). (Incorporated in the Cayman Islands)

Our core strategy will focus on companies involved in producing critical battery materials required for the energy transition (lithium, nickel, cobalt, copper, graphite, manganese and the rare earth elements), their related midstream processing operations, along with battery and component manufacturers. The demand for these critical battery materials and the products they underpin are expected to increase significantly, driven by the requirements of the transition to a clean energy economy, with limited growth in supply, a substantial part of which will be geographically concentrated. There is currently insufficient funding in supply growth projects to meet this demand. As part of our core strategy, we will not be pursuing any opportunities in commodities and downstream businesses that are not contributing to the transition to a net zero economy and/or do not align with our environmental, social and governance (“ESG”) values. As such, coal, iron ore, gold and uranium will not be among the commodities in which we will consider when evaluating a potential partner.

(Note: Battery Future Acquisition Corp. upsized its SPAC IPO at pricing on Dec. 14, 2021, to 30.0 million units, up from 25 million, at $10 each to raise $300 million.)