Swiss renewable energy developer ThomasLloyd Climate Solutions announced on Friday that it will seek a U.S. public listing by merging with an already listed American special purpose acquisition company, Roman DBDR. The transaction is structured to result in a Nasdaq listing once the merger is finalised, with completion targeted for the second half of 2026.
The company said that the merged business could be valued at approximately $1.5 billion. This projected total valuation was described in the statement issued alongside the announcement of the deal.
ThomasLloyd highlighted changing patterns in energy consumption as a key driver for its business case. In particular, the company pointed to the increasing electricity demand from data centres supporting artificial intelligence workloads. Michael Sieg, founder and chief executive of ThomasLloyd, framed this shift as more than an environmental concern, characterising it as a pressing economic and national security priority as AI and data centres alter energy usage dynamics.
The firm did not provide further operational details, financing terms beyond the expected valuation, or commentary on specific assets in this announcement. The timetable presented anticipates that the merger with Roman DBDR will be completed in the latter half of 2026, at which point the combined company plans to list on the Nasdaq exchange.
The deal pairs a Swiss renewable energy company with a U.S.-listed acquisition vehicle. Roman DBDR, the SPAC involved in the transaction, is already quoted in the United States.
Context and implications
ThomasLloyd's stated rationale links its growth prospects to the evolution of energy demand driven by AI and the expansion of data centre capacity. The move to list in the U.S. via a SPAC merger positions the company to access American public equity markets and the investor base associated with Nasdaq listings once the merger is completed.
The announcement emphasises the potential role of technology-related load growth - specifically AI and data centres - in shaping near-term demand for renewable energy capacity, a point underscored by the company's CEO.