Rainwater Tech Announces Nomination of Former World Bank President Dr. Jim Yong Kim to its Expected Post-Combination Board of Directors

Rainwater Tech – Innovator in Rainfall Generation Technology – to Become Publicly Traded through a Business Combination with dMY VI

  • Rain Enhancement Technologies, Inc. (“Rainwater Tech”) has entered into a business combination with dMY Technology Group, Inc. VI (“dMY VI”); once the business combination is completed, dMY VI is changing its ticker symbol on the New York Stock Exchange to the ticker symbol “RANY.”
  • Rainwater Tech’s vision is to develop, invent, improve, manufacture, commercialize and operate technologies that enhance rainfall and elevate water reserves in the areas where it is needed most.
  • Rainfall generation technology can address global issues including sustainable energy, food and water security, and climate change.
  • Team includes world class pioneering scientists, entrepreneurs and proven public company leaders to help raise water table and support water positivity for cities, governments and industries.
  • Third-party trials not associated with Rainwater Tech showed ground-based rainfall generation technology can enhance rainfall by 9%-18%, according to news reports; Rainwater Tech’s rainfall ionization platform anticipated to be set up in the next two quarters, will require no chemical environmental pollutants, and is expected to be fully operational off the grid far from coastlines.
  • Transaction has no minimum cash condition, with Rainwater Tech being capitalized via the approximately $241 million in dMY VI’s trust account (assuming no redemptions).
  • The transaction is expected to result in a pro forma valuation of $200 million.
  • Business combination uniquely positions Rainwater Tech to develop, innovate, and scale this pre-existing technology and to drive commercialization through strong channel and board relationships to deliver services to both private industry and governments.



Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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