Honeycomb Battery Company Merges with Nasdaq-Listed Nubia to Accelerate Solid-State EV Battery Commercialization

Advanced Battery Technology Player Sets Sights on Nasdaq Listing After Strategic Business Combination

Honeycomb Battery Company, a leading developer of next-generation battery technologies owned by Global Graphene Group, has reached a definitive agreement with Nubia Brand International Corp. (NASDAQ: NUBI), a special purpose acquisition company, to combine operations. The merger will establish a USA-based powerhouse dedicated to advancing battery materials, components, cells, and integrated energy storage solutions for the electric vehicle market.

Under the agreement, Nubia will issue 70 million shares (valued at $700 million) to Honeycomb shareholders, with additional contingent earnout payments of up to 22.5 million shares ($225 million) contingent on achieving specified stock price milestones. The combined entity is projected to have access to approximately $118 million in net cash from Nubia’s trust account (pending redemption outcomes), providing substantial capital for expansion and research initiatives.

Why Honeycomb’s Technology Matters for the EV Revolution

Honeycomb Battery Company stands out as a global innovator in two critical battery frontiers: high-capacity silicon-rich anode materials and high-energy solid-state battery architecture. The company’s silicon anode technology promises to significantly extend driving range for electric vehicles while supporting faster charging capabilities.

The real game-changer is Honeycomb’s all-solid-state battery platform, positioned to fundamentally reshape how the industry approaches energy storage. Unlike conventional lithium-ion cells, solid-state batteries eliminate liquid electrolytes, potentially offering superior energy density, enhanced safety profiles, and improved thermal stability—factors that could make EVs more practical and affordable for mainstream consumers.

Strategic Rationale and Timeline

Dr. Bor Jang, CEO of Honeycomb, stated: “This partnership accelerates our mission to enable electric vehicles that drive farther, charge faster, operate safer, and cost less. Our silicon anode innovations are among the world’s best in intellectual property, and we’re positioned as a global leader in solid-state battery development. We’re ready to scale production and move toward full commercialization.”

Jaymes Winters, CEO of Nubia, emphasized the strategic fit: “Honeycomb’s intellectual property portfolio, R&D capabilities, and product pipeline make it the ideal catalyst for the electric mobility transformation. The combined entity creates an incredibly attractive opportunity to capture value in the rapidly expanding EV battery sector.”

The transaction is expected to close during the second quarter of 2023, pending customary regulatory approvals including SEC clearance and Nasdaq authorization. Post-closing, the combined company’s board will comprise seven directors—five nominated by Honeycomb and two by Nubia—ensuring strong governance and strategic alignment.

What Happens Next

The merged company plans to deploy capital from the transaction toward scaling manufacturing operations and expanding research capabilities. Combined with Nubia’s public market access, this positions the entity to compete alongside established battery manufacturers while maintaining the agility of a specialized technology innovator.

Both companies’ boards have approved the business combination agreement, with significant shareholders from each side committing to vote in favor. Upon completion, the combined entity will operate under Nasdaq listing, providing liquidity and visibility in the capital markets.

Market Context

As electric vehicle adoption accelerates globally, the competitive landscape for battery technology intensifies. Automakers are actively seeking suppliers that can deliver performance improvements—longer range, faster charging, better safety—at competitive costs. Honeycomb’s portfolio addresses these priorities directly, making the merger well-timed to capture emerging opportunities in what’s projected to be a multi-trillion-dollar market shift over the coming decade.

The Honeycomb-Nubia combination represents a strategic consolidation in a sector where technological differentiation increasingly determines market success.