Zeo Energy Acquires Substantially All of Lumio’s Assets
Zeo Energy Corp. (Nasdaq: ZEO) ( “Zeo Energy”, or the “Company”), a leading Florida-based provider of residential solar and energy efficiency solutions, announced that it has completed the acquisition of substantially all of the assets (the “Sale Transaction”) of Lumio Holdings, Inc. (“Lumio”), another residential solar company.
On September 3, 2024, Lumio filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (“the Court”). The Sale Transaction was approved by the Court on November 1, 2024.
Tim Bridgewater, CEO of Zeo Energy, said, “We believe this transaction marks a significant step forward for Zeo Energy that will enable us to expand our scale and market presence in the solar industry. While the last year has been challenging for residential solar companies, we believe that we have positioned the Company as a platform to opportunistically purchase assets which will help us grow at above-industry rates in 2025 and beyond. We look forward to completing solar installations under agreements entered into by Lumio for their customers and financing partners. We also plan to work with Lumio’s sales representatives to bring them onto our platform to accelerate Zeo’s growth.”
Additional information regarding Lumio’s Chapter 11 cases is available at https://cases.stretto.com/Lumio. Stakeholders with questions can email [email protected] or call toll-free at (855) 328-2638 or (714) 203-6409 if calling from outside the U.S.
Advisors
Ellenoff Grossman & Schole LLP served as legal advisor, and Gateway Group served as strategic communications advisor to Zeo Energy.
Zeo Energy Corp. | www.zeoenergy.com
Lumio | lumio.com