07:08 AM EDT, 05/29/2025 (MT Newswires) -- Zeo Energy ( ZEO ) will acquire Heliogen in an all-stock transaction valued at about $10 million, the companies said on Thursday, sending Zeo Energy's ( ZEO ) shares 122% in recent premarket activity.

The companies said the merger, expected to close in Q3, will combine Zeo's residential solar and storage business with Heliogen's expertise in long-duration energy storage, particularly for commercial and industrial-scale applications, such as AI and cloud data centers.

Zeo plans to launch a new division focused on advanced energy solutions to serve residential, commercial, and utility-scale markets post-merger, the companies said, adding that the transaction is expected to enhance Zeo's financing capabilities, expand its market reach, streamline costs, and accelerate growth by leveraging internal capital, Heliogen's technology, and talent.