TortoiseEcofin Acquisition Corp. III announced that it entered into definitive agreement and issued promissory note for aggregate principal amount of up to $1,553,823.18 to new lender TortoiseEcofin Sponsor III LLC on October 20, 2023. The Note bears no interest and is repayable in full upon the earlier of the date of the consummation of the Company?s initial business combination, and the date of the liquidation of the Company.

The issuance of the Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including, without limitation, reasonable attorneys? fees, and then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note