Materials science company Footprint Inc has agreed to go public through a merger with a blank-check firm led by billionaire Alec Gores, in a deal that values the combined entity at about $1.6 billion including debt, the companies said on Tuesday. Footprint, founded in 2014, offers plant-based solutions to help companies cut carbon emissions and landfill waste and customers include Walmart (WMT.N), McDonald"s (MCD.N), Kraft Heinz Co (KHC.O) and Nestle (NESN.S). A broader awareness about climate change is encouraging more firms to lean toward clean energy and greener choices. Money managers have also increasingly factored in environmental social governance (ESG) policies as impact investing gains momentum. The deal with Gores Holdings VIII Inc (GIIX.O) will provide Gilbert, Arizona-based Footprint about $805 million in gross proceeds, including $345 million from the special purpose acquisition company"s trust account. The proceeds also consist of an oversubscribed private investment of about $460 million, including $150 million anchored by Koch Strategic Platforms and other investors. Gores is among Wall Street"s most prolific SPAC dealmakers and has raised billions of dollars through multiple blank-check vehicles so far. Earlier this year, Swedish EV maker Polestar agreed to go public in the United States by merging with a blank-check firm backed by Gores an nd investment bank Guggenheim Partners at an enterprise value of $20 billion. read more SPACS are publicly listed companies that are raised with the intention of merging with a private company at a later date. For the company going public, a merger with a blank-check company serves as an alternative to a traditional IPO. After the deal closes, Footprint will list on the Nasdaq under the ticker symbol "FOOT". Reporting by Manya Saini and Mehnaz Yasmin in Bengaluru; Editing by Vinay Dwivedi and Sriraj Kalluvila Our Standards: The Thomson Reuters Trust Principles.