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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.
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