Another month and another failed SPAC in the smart buildings industry, this time involving German smart thermostat provider, tado. Each special purpose acquisition company (SPAC) deal offers a different set of reasons for failure, but on the surface, the tado deal with GFJ ESG (the SPAC) appeared to have all the ingredients for success. Tado has a strong customer base in the smart thermostat market, which promises strong and reliable long-term growth trends. “The entire team at tado is extremely proud to partner up with GFJ,” said Toon Bouten, CEO of tado, in a January 2022 statement. “We share the same convictions and the same passion for environmental technologies. And we are determined to jointly help our customers save money and reduce their ecological footprint. Together, we are in a great position to create a more sustainable energy future.” Tado has previously received investment from major players, such as Amazon, and the SPAC was led by an […]