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Electra AI and Iron Horse Merger Valued Over $250 Million

Electra AI and Iron Horse Acquisition II announced the filing of an updated investor presentation that provides a detailed view of the market opportunity for AI Battery Intelligence. The updated presentation reflects the Company's continued progress toward closing and is intended to give investors additional context on the scale and trajectory of the markets Electra AI serves across Energy Infrastructure, autonomous systems, and e-mobility. As previously announced on April 21, 2026, Electra and Iron Horse entered into a definitive Business Combination Agreement valued at $250 million+, including earn-out targets. The respective boards of directors of both Electra and Iron Horse have unanimously approved the transaction, which is expected to close in the second half of 2026.

Electra and Iron Horse Merger Valued Over $250M

Electra Vehicles and Iron Horse Acquisition II have entered into a definitive Business Combination Agreement, pursuant to which Electra will merge with Iron Horse, creating the world's first ever publicly traded pure-play AI Battery Intelligence company. The deal is valued at $250M+ and includes earn-out targets. Upon closing, which is anticipated in the second half of 2026, the combined company will operate as Electra AI, Inc., and is expected to remain listed on Nasdaq under a new ticker symbol. The companies said, "The problem Electra solves is enormous and almost invisible. Nearly every battery on Earth is operating blind. Across the entire energy ecosystem, batteries degrade in unforeseen ways, fail in unpredictable manners, and deliver only a fraction of their true potential output. The consequences are severe: fires and thermal runaway events, Battery Energy Storage System installations leaving 30% of their value on the table, and fleets stranded because of inaccurate range estimates. When a battery fails today, you often get a fire. With Electra, the outcomes are different. Customers receive a software alert up to three months in advance; no thermal runaways; no headlines, just a fix, delivered in software. To date, the industry's answer has been more batteries, heavier packs, and greater redundancy, exponentially increasing costs. Hardware compensating for what software could never see. A multi-trillion-dollar infrastructure managed with instrumentation unchanged for decades. The answer was never more batteries; it is, however, smarter ones. Electra was founded in 2015 to solve this. Rooted in NASA research and forged through DOE and DOD contracts, the company built the AI Brain for Batteries - a unified intelligence layer that transforms dumb batteries into intelligent, software-defined assets, validated across chemistries, hardware, and scale." The respective boards of directors of both Electra and Iron Horse have unanimously approved the transaction. The transaction is expected to close in the second half of 2026, subject to, among other things, approval by Iron Horse's stockholders, registration with the U.S. Securities and Exchange Commission, and other customary closing conditions. There can be no assurance that the transaction will be completed. Upon closing, the merged company is expected to reincorporate in Delaware and be listed on Nasdaq under a new ticker symbol.