Sakuu Corporation to Go Public via Business Combination With Pyrophyte Acquisition Corp. II

Advancing Mission to Transform Energy Storage Manufacturing Industry by Supplying Commercial-Scale Dry-Printing Equipment for Accelerated, Sustainable and Cost-Effective Battery and Supercapacitor Production

SAN JOSE, Calif. & HOUSTON--( BUSINESS WIRE )-- Sakuu Corporation (“Sakuu”), a Silicon Valley-based company that seeks to become a global leader in the production and supply of transformative dry-printing electrode manufacturing platforms, and Pyrophyte Acquisition Corp. II (“Pyrophyte”) (NYSE: PAII), a special purpose acquisition company, announced today that they have entered into a definitive Business Combination Agreement (“BCA”) for a business combination.

"Sakuu brings transformative technology to energy storage manufacturing, a critical segment of the energy industry." – Dr. Bernard J. Duroc-Danner, Chairman of Pyrophyte

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The terms of the Business Combination imply a pre-money equity value of $600 million for Sakuu. The proceeds from the Business Combination are expected to be used to support the continued development and commercialization of Sakuu’s Kavian ® platform, its next-generation dry-battery printing platform, including preparations for anticipated commercial availability in the second quarter of 2027, and to support purchase-order fulfillment. Upon closing, Pyrophyte will be renamed Sakuu Corporation and is expected to be listed on the NYSE under the ticker symbol “ SAKU .” Unless otherwise specified, all amounts in this press release are in U.S. dollars.

Sakuu Overview

Founded in 2016, Sakuu develops the first known multi-material, multi-process additive manufacturing platform for energy storage production enabling electrode production in a fully dry process with proven electrode performance. It is the first company to 3D-print fully functional batteries in custom shapes and sizes with multiple materials, including metal-free composites, in a fully dry process.

For battery manufacturers, Sakuu’s process and Kavian platform save both CapEx and OpEx, as well as significantly reduce factory and carbon footprints compared to traditional wet process manufacturing, thereby potentially improving gross margins. Sakuu believes the platform offers the potential to provide:

100% elimination of toxic solvents and water;

40-60% potential overall manufacturing cost reduction;

50% smaller factory footprint; and

55% reduction of CO2 emissions.

Additionally, Sakuu’s polymeric current collector (PCC) technology and Kavian dry-printing manufacturing process enable the production of inherently safe batteries by dry-printing electrodes designed to mitigate the risk of thermal runaway associated with traditionally manufactured Li-Ion batteries.

Sakuu’s technology can produce batteries and supercapacitors for AI data centers tailored for rack integration close to the server, with much higher pack energy density, lower resistance, inherent safety and lower heat generation (meaning less need for cooling and safety investments).

Global energy-transition drivers, evolving regulatory and trade policies, and major investments in AI datacenter buildout are all expected to be significant catalysts driving demand for both batteries and supercapacitors and advanced production capabilities, creating a robust long-term growth outlook for Sakuu’s revolutionary technology.

Commentary

“Sakuu’s technology enables energy storage manufacturers to meet the demands of the modern era,” said Sakuu Founder and Chief Executive Officer Robert Bagheri. “Kavian technology is not only the world’s first additive manufacturing solution to dry print high-performance battery electrodes at scale; it can also dry print supercapacitor electrodes customized for the growing power needs of AI data centers. It is the only known solution for producing heavily in-demand energy products that can be custom-printed rapidly, sustainably, and cost-effectively.”

Chairman of Pyrophyte, Dr. Bernard J. Duroc-Danner, said, “AI is a profoundly transformative technology. Energy is what makes that transformation possible. Sakuu brings transformative technology to energy storage manufacturing, a critical segment of the energy industry. Sakuu will improve the economics of AI infrastructure as well as more broadly the economics of energy storage in all its applications. It will also significantly improve the safety and the environmental footprint of AI data centers and more generally the electrification of the economy. Pyrophyte wanted to assist in bringing to market a company that makes a difference in the energy industry. After long years of technology development, Sakuu is such a company. We are proud to be part of their development path.”

Transaction Summary

The terms of the Business Combination imply a pre-money equity value of $600 million. New capital is expected to accelerate Sakuu’s delivery of next-generation dry-electrode printing technologies.

The Business Combination, which has been unanimously approved by the Boards of Directors of Sakuu and Pyrophyte, is subject to approval by Pyrophyte's and Sakuu’s shareholders and other customary closing conditions. CEO Robert Bagheri and President and COO Arwed Niestroj will continue to lead Sakuu, supported by a deep bench of experienced operators. Pyrophyte’s leadership team is expected to support Sakuu by introducing relevant industry and capital-markets relationships.

Advisors

Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, is acting as Exclusive Financial Advisor and Lead Capital Markets Advisor to Sakuu. Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as capital markets advisor to Pyrophyte. Nelson Mullins Riley & Scarborough LLP is acting as legal advisor to Sakuu. Ashurst Perkins Coie US LLP is acting as legal advisor to Pyrophyte.

About Sakuu