We are a newly formed company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. While we have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us, we will not complete our initial business combination with a target that is headquartered China (including Hong Kong and Macau) or conducts a majority of its business in China (including Hong Kong and Macau). The Business Imperative Climate change is a global issue challenging every society in the world. The Paris Agreement has brought together 191 countries (1) to tackle the threats from global climate change with the aim to limit global warming to well below two degrees Celsius, preferably to 1.5 degrees Celsius, compared to pre-industrial levels. National governments / organizations across the globe, including the European Union, Canada, United Kingdom and Japan, have announced goals to achieve net zero carbon emissions by 2050. In response to the increasing environmental and economic threats from climate change, government authorities are establishing pro-climate environmental regulations and standards, corporations are investing towards renewable energy and procuring from sustainable sources, and consumers are demanding more advanced renewable and de-carbonizing technologies. Despite the unprecedented disruptions caused by the COVID-19 pandemic, a significant number of companies and organizations around the world made commitments toward net zero carbon emissions in 2020. United Nations Framework Convention on Climate Change (UNFCCC) has launched a global campaign named “Race to Zero” that encourages countries, companies, and other entities to deliver structured net-zero greenhouse gas emission pledges. Technology giants including Apple, Facebook, Google, and Microsoft have made plans to become carbon neutral or negative by 2030. Automakers, including BMW, PSA Group, Groupe Renault, Mercedes-Benz AG have approved science-based targets, while Toyota Motor Corporation and Nissan Motor have committed to set targets, to help accelerate the transition to a more sustainable transport future. In the consumer sector, Unilever PLC has announced a goal to reach net zero emissions from its products up to the point of sale by 2039. Anheuser-Busch InBev SA/NV aims to purchase 100% of its electricity from renewable sources and achieve a 25% reduction in carbon emissions along its value chain by 2025. A climate-safe and sustainable future requires a scale-up and redirection of investment to clean energy technologies, together with the shift of fossil fuel investments to renewables and energy efficiency, while subsidies to fossil fuels have to be phased out gradually. According to IRENA, total investment in the energy system under the Transforming Energy Scenario that keeps the rise in global temperatures to well below two degree Celsius and towards 1.5 degree Celsius amounts to $90 trillion between 2016 and 2050, of which over 80% has to be invested in renewables, energy efficiency, end-use electrification, and power grids and flexibility. According to the same source, an additional $20 trillion will be required to further reduce energy-related and industrial process emissions to zero between 2050 and 2060. Given the global scale and importance of sustainability issues, investors and global capital markets have started to shift their focus towards sustainable investing that considers environmental, social and governance (ESG) factors, alongside financial factors, with the aim to generate better risk-adjusted returns. According to TrackInsight, ESG ETFs captured $97 billion of fund inflows throughout 2020, representing a disruptive growth of 223% in 2020 and achieving a record asset under management at $189 billion. According to IRENA, sustainability investment would also stimulate a considerable amount of job growth globally, directly benefiting the renewables industry, where employment is estimated to increase to 42 million jobs by 2050. Among segments of the renewable energy value chain, construction and installation jobs are expected to dominate, accounting for 47% of the estimated total in 2050. With the need for continuous technological advancements to support sustainable development, many of the ESG and pro-climate focused companies along the value chain have experienced strong growth in verticals including renewable technologies and energy services and solutions. We believe these trends, developments and changes bring a wide range of investment opportunities across the value chain for the Company to both contribute to the accelerated transition to a cleaner world and to gain attractive risk-adjusted returns for its shareholders. The Company, led by a management team with an outstanding track record in clean energy investing and operational improvement and management, will identify and acquire target companies quickly and carefully, and seek to unlock the most value from the business combination. We believe our sustainable investing philosophy offers one of our generation’s greatest business imperatives, enabling significant ESG impact across all sectors of the economy. The Company looks forward to playing a pivotal role, supported by our management team and our directors’ extensive experience and expertise, in capturing the growth opportunities in the global net zero carbon megatrend and making contributive impacts to global environmental and sustainable development. (1) While there are 197 Parties to the UNFCC, only 191 are currently Parties to the Paris Agreement which is signed under the UNFCC. Our executive offices are located at Unit 2710, 27/F The Center, 99 Queen’s Road Central, Hong Kong.

AP Acquisition Corp

We are a newly formed company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. Our executive offices are located at Unit 2710, 27/F The Center, 99 Queen’s Road Central, Hong Kong.

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