Zeo Energy Shares Surge Nearly 92% On Heliogen Acquisition Announcement: What's Going On?
Zeo Energy Corporation (NASDAQ:ZEO) shares are trading higher Thursday following the announcement of a definitive agreement to acquire Heliogen, Inc. (OTC:HLGN) in an all-stock deal valued at approximately $10 million.
What To Know: Under the terms of the agreement, Zeo will acquire all outstanding equity of Heliogen, a company focused on long-duration clean energy solutions, including thermal storage technologies. The transaction is expected to close in the third quarter of 2025, pending customary closing conditions and shareholder approval from Heliogen.
Zeo plans to integrate Heliogen's technology and expertise to create a new division targeting power-hungry sectors like AI and cloud data centers.
Management emphasized that the deal is expected to enhance Zeo's financial flexibility, broaden market access and streamline operations. With a financing arm already providing over $44 million in clean energy funding, Zeo sees this acquisition as a way to accelerate its growth in the solar and storage space.
ZEO Price Action: Zeo shares were up 100% at $3.17 at the time of writing, according to Benzinga Pro.
Read Next:
Image Via Shutterstock.
① During the campaign period, US stocks, US stocks short selling, US stock options, Hong Kong stocks, and A-shares trading will maintain at $0 commission, and no subscription/redemption fees for mutual fund transactions. $0 fee offer has a time limit, until further notice. For more information, please visit: https://www.webull.hk/pricing
Webull Securities Limited is licensed with the Securities and Futures Commission of Hong Kong (CE No. BNG700) for carrying out Type 1 License for Dealing in Securities, Type 2 License for Dealing in Futures Contracts and Type 4 License for Advising on Securities.
English