Genesis Unicorn Capital Corp. (GENQW) operates as a special purpose acquisition company, or blank check company, focused on effecting mergers, share exchanges, asset acquisitions, stock purchases, recapitalizations, reorganizations, or similar business combinations with one or more businesses, particularly in biotechnology and pharmaceutical sectors. Incorporated in 2021 and headquartered in Princeton, New Jersey, the company originally targeted global opportunities excluding the People's Republic of China; it generates no independent revenue or operations beyond pursuing such transactions. GENQW represents warrants exercisable into common shares at $11.50 per share, expiring June 30, 2026.
In 2023, Genesis Unicorn Capital Corp. completed a reverse merger transaction with Environmental Solutions Group Holdings Limited (ESGL), a Singapore-based circular economy company specializing in waste management, recycling, and low-carbon solutions such as converting industrial waste into sustainable products like Recovered Carbon Black and biochar for industries across Asia. The business combination, valued at an implied pro forma enterprise value of $161.25 million, closed on August 2, 2023, resulting in the combined entity trading under the ticker ESGL on Nasdaq, with GENQW warrants continuing as related securities for the post-merger company. Post-merger, ESGL has pursued expansions including a November 2025 non-binding MOU with De Tomaso Automobili Holdings Limited and PT Buana Megawisatama for a carbon-neutral luxury race circuit in Bintan, Indonesia, integrating ESGL's circular technologies; ESGL also announced an ongoing business combination with De Tomaso, subject to approvals.