Hydrogen Fuel Firm ECombustible Eyes Up to $1 Billion SPAC Deal

ECombustible, a maker of hydrogen-based fuel, is in talks to merge with blank-check firm Benessere Capital Acquisition Corp., according to people with knowledge of the matter.

Benessere is discussing a potential deal that could value the combined entity at about $800 million to $1 billion, the people said, asking not to be identified because the information is private.

Details of the potential transaction could still change, and there’s no certainty the negotiations will lead to an agreement, the people said. Representatives for ECombustible and Benessere declined to comment.

Miami-based ECombustible is developing a hydrogen-based alternative fuel and has been ...