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					</table><p>Florida-based <a href="https://sunergyrenewables.com/" target="_blank" rel="noopener">Sunergy Renewables</a>, a residential solar and storage firm, announced it will begin trading on the <a href="https://www.nasdaq.com/" target="_blank" rel="noopener">Nasdaq</a> Stock Exchange after merging with <a href="https://esgen-spac.com/" target="_blank" rel="noopener">ESGEN Acquisition Corp</a>, a special purpose acquisition company (SPAC).</p>
<p>The merged company, now called Zeo Energy Corp, will trade its shares and warrants under the ticker &#8220;ZEO&#8221; and &#8220;ZEOWW&#8221; and will be led by Sunergy&#8217;s senior management. Additionally, the Board of Directors of Zeo will include members from both Sunergy and ESGEN.</p>
<p>A SPAC, also known as a blank-cheque company, is a listed firm created specifically to acquire or merge with an existing private company and then take it public rather than going through the traditional initial public offering route.</p>
<p>The deal values the combined company at an implied $475 million enterprise value. The transaction raised approximately $18 million to fund its operations and growth strategy.</p>
<p>&#8220;Becoming a publicly traded company is an extraordinary milestone for our employees, our shareholders, and for the residential solar industry,&#8221; said Zeo CEO Tim Bridgewater, who previously led Sunergy Renewables. &#8220;We are confident that this merger with ESGEN enables us to accelerate our growth strategy, partner with industry players, and serve more customers seeking renewable energy solutions.&#8221;</p>
<p>Founded in 2005, Sunergy provides rooftop solar installations, energy storage systems, and efficiency solutions like insulation to homeowners. It delivered $123 million in revenue and $11 million in EBITDA in 2022 by completing nearly 2,400 residential projects.</p>
<p>The company has a geographic focus on high-growth, underserved markets in Florida, Texas, and Arkansas.</p>
<p>Last year, multiple companies in the renewable energy space chose the SPAC route to go public. In May, Suntuity Renewables, a U.S.-based residential solar company, <a href="https://www.mercomindia.com/suntuity-public-190-million-spac-deal" target="_blank" rel="noopener">reached</a> a $190 million business combination deal with Beard Energy Transition Acquisition Corp, another SPAC.</p>
<p>Earlier, H2B2 Electrolysis Technologies, a Spain-based electrolyzer manufacturer and green hydrogen project developer, <a href="https://www.mercomindia.com/green-hydrogen-company-h2b2-public-merger" target="_blank" rel="noopener">reached</a> a $750 million business combination deal with RMG Acquisition Corp III – also a SPAC.</p>


Sunergy Lists New Company Zeo Energy on Nasdaq in SPAC Deal

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