ThomasLloyd Climate Solutions has announced plans to go public through a business combination with Nasdaq-listed special purpose acquisition company (SPAC) Roman DBDR Acquisition Corp. II, a move aimed at accelerating its expansion in sustainable energy solutions and the rapidly growing AI data center power market.
Under the definitive agreement, both companies will become wholly owned subsidiaries of a newly created holding company to be incorporated in England and Wales. The combined entity, to be named Thomas Lloyd Climate Solutions Holdings PLC, is expected to list on the Nasdaq under the ticker TCSG once the transaction closes, which is anticipated in the second half of 2026, subject to shareholder and regulatory approvals.
The proposed transaction values ThomasLloyd at a pre-money equity value of $850 million and is expected to generate over $240 million in gross proceeds through funds held in the SPAC’s trust account and a planned private investment in public equity (PIPE) raise. The deal value could reach up to $1.3 billion through earnouts, implying a potential combined company valuation of around $1.5 billion.
Founded in 2003, ThomasLloyd operates a vertically integrated platform that provides sustainable energy, climate finance and decarbonization solutions to governments, corporations and institutional clients globally. The company’s projects span renewable power generation, sustainable fuels, water and waste infrastructure, and energy efficiency systems.
According to the company, its teams have contributed to the development and operation of projects representing approximately 28GW of power generation capacity, alongside sustainable fuels and environmental infrastructure across multiple markets.
The company plans to leverage its platform to support the rising energy demand from AI and data centers, offering distributed and hybrid energy solutions designed to deploy faster and reduce energy costs by up to 30% compared with traditional power systems.
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