TMT Acquisition's Merger Partner eLong Power Signs $66M Contract For 600MWh Lithium Battery Storage System; Delivery Expected By October 31, 2024; Business Combination Anticipated To Close In H2 2024
Portfolio Pulse from Benzinga Newsdesk
TMT Acquisition's merger partner, eLong Power, has signed a $66 million contract for a 600MWh lithium battery storage system, with delivery expected by October 31, 2024. The business combination is anticipated to close in the second half of 2024.
June 24, 2024 | 1:31 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
TMT Acquisition's merger partner, eLong Power, has secured a significant $66 million contract for a 600MWh lithium battery storage system, with delivery expected by October 31, 2024. The business combination is anticipated to close in the second half of 2024.
The $66 million contract for a 600MWh lithium battery storage system is a significant deal for eLong Power, which is merging with TMT Acquisition. This contract indicates strong business prospects and could positively impact TMTC's stock price in the short term. The anticipated business combination closing in H2 2024 further adds to the positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100