Solid Power is in talks to go public through a merger with Decarbonization Plus Acquisition Corporation III (NasdaqCM:DCRC), according to people with knowledge of the matter. The blank-check firm is seeking to raise more than $100 million in new equity to support a transaction that's set to value the combined entity at about $1.2 billion, including debt, one of the people said. Terms could change and as with all deals that aren't finalized, it's possible talks could collapse.

A Solid Power representative didn't immediately respond to a request for comment. A Decarbonization Plus spokesman declined to comment.