LONDON, UK: RIGL Holdings LP (Riverstone), the manager of Riverstone Energy Limited (REL), has announced the signing of an agreement for REL to purchase $20 million of Decarbonization Plus Acquisition Corporation III (DCRC) common stock in a private placement transaction at $10 per share.

The private placement is concurrent with DCRC’s announced merger with Solid Power Inc., an industry-leading producer of all-solid-state batteries for electric vehicles. REL is investing in this placement alongside existing and new investors, including blue chip institutional investors.

With eight years of technology development and three years of manufacturing development, Solid Power has been working to deliver on one objective – produce better performing all-solid-state batteries using low-cost, industry standard processes.

Solid Power manufactures its batteries on the company’s pilot production line, which essentially mirrors lithium-ion manufacturing processes, while eliminating certain expensive and timely steps.

Solid Power’s all-solid-state batteries could provide a near 500-mile vehicle range on a single charge, which is 50 to 75 percent greater than any commercially available lithium-ion battery today.

The safety profile of Solid Power’s batteries is also improved over traditional lithium-ion as a result of its truly all-solid cell architecture. Solid Power’s partners Ford and BMW expect to integrate the company’s batteries in future electric vehicles.

This investment, along with the recent decarbonisation investments in FreeWire (a leading provider of battery-integrated DC fast chargers), Loanpal (a leading sustainable home improvement fintech provider including residential solar) and Hyzon (the industry-leading global supplier of zero-emissions hydrogen fuel cell powered commercial vehicles), demonstrates REL’s continued efforts to increase its exposure to the global energy transition thematic while also providing the opportunity to create value for its shareholders.

REL is a closed-ended investment company that invests exclusively in the global energy industry across all sectors. REL aims to capitalise on the opportunities presented by Riverstone’s energy investment platform. REL’s ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE.

REL has 13 active investments spanning decarbonisation, oil and gas, renewable energy and power in the Continental U.S., Western Canada, Gulf of Mexico and Europe. www.RiverstoneREL.com

Riverstone is an energy and power‐focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately US$42 billion of equity capital raised to date. Riverstone conducts buyout, growth capital and credit investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London, Houston, Menlo Park, Mexico City and Amsterdam, Riverstone has committed approximately US$43 billion to more than 200 investments in North America, South America, Europe, Africa, Asia, and Australia. www.RiverstoneLLC.com