- Business
- ESGEN Acquisition Corporation (Nasdaq: ESACU, ESAC, ESACW) is a blank check company, or special purpose acquisition company (SPAC), whose primary business is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Incorporated in 2021 and headquartered in New Port Richey, Florida, the company raised $276 million in its upsized initial public offering in October 2021, targeting opportunities primarily in the energy, infrastructure, technology, renewable energy, and healthcare sectors in North America and Europe, with a focus on environmental, social, and governance (ESG) principles; acquisition sizes typically range from $150 million to $1 billion. In March 2024, ESGEN completed a business combination with Sunergy Renewables, LLC, a Florida-based provider of residential solar and energy efficiency solutions, resulting in the combined entity operating as Zeo Energy Corp., which offers solar panel installations, energy storage systems, roofing services, and related efficiency solutions primarily to residential customers in the southeastern United States; the transaction delivered gross proceeds of approximately $18 million to support operations, growth, and related expenses.