- CEO
- Erik J. Anderson
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 2744 Sand Hill Road Menlo Park CA United States of America 94025
- IPO Date
- May 14, 2021
- Business
- Decarbonization Plus Acquisition Corporation III (DCRC) operates as a blank check company, or special purpose acquisition company (SPAC), focused on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses advancing decarbonization in carbon-intensive sectors including energy, agriculture, industrials, transportation, and commercial and residential markets. Incorporated in Delaware in January 2021 and headquartered in Menlo Park, California, the company targets entities developing platforms that reduce carbon emissions, with operations centered in the United States. Its core activities encompass identifying and evaluating prospective acquisition targets, conducting due diligence, negotiating transaction structures, and completing initial business combinations, supported by funds from its March 2021 initial public offering of $350 million.
In December 2021, DCRC completed a business combination with Solid Power, Inc., a developer of all-solid-state battery technology for electric vehicles, resulting in the combined entity trading as Solid Power, Inc. (NASDAQ: SLDP) after changing its name and ticker symbol from DCRC. The transaction provided approximately $543 million in gross proceeds, including a $195 million private investment in public equity (PIPE) anchored by investors such as Koch Strategic Platforms, Riverstone Energy Limited, Neuberger Berman, and Van Eck Associates, with only 0.6% of public shares redeemed. Sponsored by an affiliate of Riverstone Holdings LLC, DCRC reflects Riverstone's expansion into low-carbon investments, building on over $5 billion in prior equity commitments to renewables across North America, Europe, and other regions. As of late 2025, legacy DCRC shares continue to trade independently, with recent stock forecasts indicating modest price targets amid market volatility.