STJ-sponsored SPEAR Investments I B.V. completed its Business Combination with QEV Technologies, a fast-growing company specialised in electric mobility vehicles with a track record of more than 10 years developing and manufacturing electric cars. The listing of QEV Technologies is the second Spanish listing on Euronext Amsterdam in 2023.
SPEAR was formed in order to identify and become a valuable partner to a fast-growing European business, and to support this company in the accelerated achievement of its goals. SPEAR’s multi-skilled team has many decades of experience in successfully supporting the listings and ongoing growth of public companies, as well as in providing sector-specific, operational, and capital-market related support for leading global businesses.
Joan Orús, CEO of QEV Technologies, explained: "The new capital raised and to start trading in a stock exchange such as Euronext Amsterdam will allow us to accelerate the implementation of our pioneering electric project, which not only has huge potential, but is also a model that faces the economic and climate challenges. Today marks a new milestone in our company's path, it is a step forward for the reindustrialisation in Spain, and it highlights our full commitment to a green transition. This operation demonstrates the market's confidence in our business model and the whole project, it will open the door to new investors and will allow us to scale our production capacity to meet the growing demand for electric vehicles".
John St. John, co-CEO of SPEAR Investments, said: "The merger with QEV Technologies allows us to provide the company both with liquidity and with our expertise in supporting companies that want to expand and further consolidate their business models. The partnership with QEV Technologies has given SPEAR Investments the opportunity to invest in a company with a significant role in the sustainable mobility industry and with an extraordinary growth potential.”