Hecate Energy Group has agreed a business combination with EGH Acquisition Corp that will see the US renewable energy developer become a publicly listed company on Nasdaq under the ticker symbol HCTE, the companies said.
The transaction values Hecate at a pre-money enterprise value of $1.2 billion. EGH’s trust account is expected to provide up to $155 million of capital to support the development of Hecate’s portfolio of utility-scale energy parks.
Founded in 2012, Hecate has assembled a development portfolio exceeding 47GW across eight US power markets and 26 states, positioning the company to supply large-scale power demand from sectors including data centres and hyperscalers.
“Our partnership with EGH and its experienced team and the public listing resulting from a successful completion of our combination represent a transformational milestone for Hecate as we advance to the next phase of growth and value creation,” said Chris Bullinger, president and chief executive of Hecate.
Bullinger added that access to public capital markets would support faster project development and monetisation, while providing flexibility for the company to evolve into an independent power producer with long-term recurring cash flows.
EGH chief executive Drew Lipsher said the transaction brings together a sizeable development pipeline with an experienced management team. “Hecate’s significant portfolio, combined with the team’s strong reputation and proven execution, positions Hecate exceptionally well to meet the rising demand for reliable power,” he said.
Under the terms of the deal, Hecate’s existing shareholders will roll 100% of their equity into the new public company, with the current management team continuing to lead the business.
The transaction is expected to close in mid-2026, subject to customary closing conditions, including approval by EGH shareholders.
