ClimateRock and E.E.W. Eco Energy World PLC, Announce

~ Transaction values E.E.W. Eco Energy World PLC (“EEW”) at an equity value of $650 million ~

~ EEW is an independent global developer of solar photovoltaic power projects, operating for
nearly 15 years, having sold 21 ready-to-build stage, utility-scale projects and developed

projects with a further capacity of approximately 1.5 gigawatt (“GW”) ~

~ EEW expects to sell approximately a further 2.0 GW over the next three years ~

~ Svante Kumlin, Founder and CEO of EEW, will continue to lead the combined company ~

~ ClimateRock management to join the combined company’s board of directors ~

London, United Kingdom, Oct. 06, 2022 (GLOBE NEWSWIRE) — ClimateRock (Nasdaq: CLRC), a special purpose acquisition company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, and EEW, an independent global developer of utility scale solar photovoltaic projects from greenfield to ready-to-build, announced today the signing of a definitive business combination agreement (the “Business Combination Agreement”). Upon the closing of the business combination (the “Business Combination”), a newly formed holding company that will own ClimateRock and EEW (“Pubco”), is expected to be listed on the Nasdaq Stock Market and will be led by Svante Kumlin, EEW’s founder and Chief Executive Officer, with two individuals from ClimateRock joining the board of directors.

With more than fourteen years of experience, and projects with a capacity of approximately 1.5 GW developed across Europe, the UK and Australia, EEW develops from greenfield to ready-to-build stage around the world. EEW’s diverse management team combines technical skills with a rigorous commercial mind-set with more than a decade of experience in the industry. This blend of skills and experience enables EEW to drive value in the early stages of solar…