ESGEN Acquisition Corporation (“ESGEN” or the “Company”) announced today the closing of its initial public offering of 27,600,000 units, which includes the full exercise of the underwriters’ option to purchase 3,600,000 additional units, at a price of $10.00 per unit. Total gross proceeds from the offering were $276 million before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The units began trading on The Nasdaq Global Market (the “Nasdaq”) under the ticker symbol “ESACU” on October 20, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq under the symbols “ESAC” and “ESACW,” respectively.

ESGEN is led by Chief Executive Officer Andrejka Bernatova and Chief Financial Officer Nader Daylami, and is affiliated with Energy Spectrum Capital, a Dallas-based venture capital firm with long-standing experience building companies across the energy and infrastructure landscapes over multiple decades. The Company intends to concentrate on identifying opportunities in the North American energy and infrastructure value chain and contiguous industries that it believes will fundamentally change the current energy landscape by accelerating a shift to a low-carbon future.

Citigroup and Barclays Capital Inc. served as the book-running managers for the offering and Ladenburg Thalman & Co. Inc. acted as co-manager. The Company granted the underwriters a 45-day option to purchase up to an additional 3,600,000 units at the initial public offering price to cover over-allotments, which the underwriters exercised in full.

A final prospectus relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s web site at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media:

David Wells or Nick Rust Prosek Partners 212-279-3115 dwells@prosek.com / nrust@prosek.com

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