A pivotal step in distributed clean energy
ESGEN Acquisition Corp. (“ESGEN”) and Zeo Energy Corp. (“Zeo”) are combining to advance residential-scale solar + storage—delivering reliable, affordable, and clean power across the U.S.
In October 2021, ESGEN raised $276 million in its IPO with the goal of partnering with a business driving the global transition to sustainable energy. On April 18, 2023, ESGEN announced a definitive agreement to merge with Zeo Energy Corp. (“Zeo”), a leading residential solar and energy storage company delivering reliable, affordable, and clean power to households across the United States. The proposed merger between ESGEN and Zeo represents a pivotal step in the evolution of distributed clean energy, establishing one of the first publicly traded platforms focused on residential-scale solar + storage solutions.
About Zeo & Strategic Rationale
Zeo Energy develops, finances, and installs rooftop solar systems paired with intelligent battery storage, empowering homeowners to achieve energy independence while lowering utility costs and contributing to grid stability. Through a vertically integrated business model and technology-driven customer engagement platform, Zeo is positioned to accelerate adoption of home-based clean energy and expand access to sustainable power solutions nationwide. By merging with ESGEN, Zeo gained access to growth capital, broadened its visibility among institutional and strategic investors, and strengthened its platform to scale across key U.S. markets.
Upon completion of the transaction, the combined company was valued at an enterprise value of approximately $390 million and began trading on the NASDAQ under the ticker symbol “ZEO.” The merger generated $18 million in gross proceeds, allocated to expand Zeo’s residential solar and storage deployments, enhance customer acquisition capabilities, and invest in technology and operational scaling to meet accelerating demand for clean, distributed energy solutions.
- Residential solar + intelligent storage; vertically integrated go-to-market
- Technology-driven customer engagement and financing platform
- Capital to accelerate deployments across key U.S. markets