03:54 PM EDT, 03/13/2024 (MT Newswires) -- ESGEN Acquisition ( ESAC ) said Wednesday it completed its business combination with Sunergy Renewables.

ESGEN, a publicly-traded special purpose acquisition company, changed it name to Zeo Energy. Zeo shares will start trading on the Nasdaq under the ticker symbol ZEO from Thursday, the company added.

Zeo's board will include members from both Sunergy and ESGEN.

ESGEN said the business combination will result in gross proceeds of about $18 million to Zeo.

ESGEN shares were down more than 9% in recent trading.

Price: 6.98, Change: -0.72, Percent Change: -9.35