Hecate Energy plans to become a public company through a merger with SPAC, EGH Acquisition Corp
Once the deal is complete in mid-2026, it is expected to list on Nasdaq under the ticker HCTE
Hecate aims to access public capital to accelerate project development, monetize its pipeline, and support a potential transition into an IPP
Hecate Energy, the US-based independent utility-scale projects developer, is set to become a public company under a merger with blank-check vehicle EGH Acquisition Corp. The transaction values Hecate at a pre-money enterprise value of $1.2 billion.
A Special Purpose Acquisition Company (SPAC), or a blank-check company, is established as a shell company to raise capital through a public listing by merging with a private company. In this case, once Hecate becomes a public company, it will be listed on the Nasdaq under the ticker symbol HCTE.
EGH’s trust account will provide the company with up to $155 million to develop its utility-scale energy park portfolio. Hecate’s management will continue to lead the company post-merger. The transaction is scheduled to close in mid-2026.
Hecate says it has assembled over 47 GW of renewable and thermal power projects across 26 US states and sold over 12 GW of projects to a diversified group of blue-chip counterparties. It currently has more than 4 GW of projects under exclusivity or advanced negotiations for sale.
The company sees a public listing as an opportunity to attract institutional investors as it builds energy infrastructure.
“Access to the public capital markets will strengthen our ability to accelerate project development and monetization, while providing the flexibility to evolve into an Independent Power Producer and generate long-term, recurring cash flows,” explained Hecate Energy President and CEO Chris Bullinger.
