Alussa Energy Acquisition Corp II is a SPAC that raised $287.5M in its November 2024 IPO to acquire and take public a private company in the energy and power infrastructure sectors. The company holds IPO proceeds in a trust account and has until November 2027 to complete an acquisition, after which it must return funds to shareholders if no deal is done. Alussa II is focused on energy transition-related businesses — renewable power generation, battery storage, grid infrastructure, nuclear, and data centers at the intersection of energy and technology — though it will also consider traditional energy assets like natural gas and LNG. The target enterprise value is roughly $1B to $1.5B. The SPAC structure gives the sponsor and management team founder shares at minimal cost, creating a financial incentive tied entirely to completing a deal and post-merger stock appreciation. The team is led by Ole Slorer, a former Morgan Stanley energy research managing director, and includes Daniel Barcelo, who previously ran Alussa Energy Acquisition Corp I, which raised $288M and merged with T1 Energy in 2021. Alussa II's pitch to acquisition targets is the standard SPAC value proposition: a faster, more flexible path to public markets compared to a traditional IPO.