<SEC-DOCUMENT>0001085146-25-001307.txt : 20250213
<SEC-HEADER>0001085146-25-001307.hdr.sgml : 20250213
<ACCEPTANCE-DATETIME>20250213154846
ACCESSION NUMBER:		0001085146-25-001307
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250213
DATE AS OF CHANGE:		20250213

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Zeo Energy Corp.
		CENTRAL INDEX KEY:			0001865506
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				981601409
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-92969
		FILM NUMBER:		25619889

	BUSINESS ADDRESS:	
		STREET 1:		5956 SHERRY LANE, SUITE 1400
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225
		BUSINESS PHONE:		214-987-6100

	MAIL ADDRESS:	
		STREET 1:		5956 SHERRY LANE, SUITE 1400
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ESGEN Acquisition Corp
		DATE OF NAME CHANGE:	20210602

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COWEN AND COMPANY, LLC
		CENTRAL INDEX KEY:			0000048966
		ORGANIZATION NAME:           	
		IRS NUMBER:				841702964
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		599 LEXINGTON AVENUE
		STREET 2:		20TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-827-6971

	MAIL ADDRESS:	
		STREET 1:		599 LEXINGTON AVENUE
		STREET 2:		20TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COWEN & CO., LLC
		DATE OF NAME CHANGE:	20060208

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SG COWEN & CO., LLC
		DATE OF NAME CHANGE:	20040521

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SG COWEN SECURITIES CORPORATION
		DATE OF NAME CHANGE:	20040503
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:ns1="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001085146-24-005553</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000048966</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Class A Common Stock, par value $0.0001 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001865506</issuerCik>
        <issuerName>ZEO ENERGY CORP.</issuerName>
        <issuerCusip>G3R95N103</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <ns1:street1>5956 SHERRY LANE</ns1:street1>
          <ns1:street2>SUITE 1400</ns1:street2>
          <ns1:city>DALLAS</ns1:city>
          <ns1:stateOrCountry>TX</ns1:stateOrCountry>
          <ns1:zipCode>75225</ns1:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>COWEN AND COMPANY, LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>280000</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>280000</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>280000</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>2.0</classPercent>
      <typeOfReportingPerson>BD</typeOfReportingPerson>
      <comments>The beneficial ownership of the Reporting Person is comprised solely of 280,000 shares of Common Stock issuable upon the exercise of warrants to purchase shares of Common Stock that are beneficially owned by the Reporting Person (the "Warrants"). The percentage above is based on (i) 14,031,845 shares of Common Stock deemed outstanding as reported by the Issuer in its quarterly report on Form 10-Q for the quarterly period ended September 30, 2024, filed with the SEC on January 23, 2025, plus (ii) the Warrants.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>ZEO ENERGY CORP.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>5956 SHERRY LANE
SUITE 1400
DALLAS, TEXAS
75225</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>COWEN AND COMPANY, LLC</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>599 LEXINGTON AVENUE
20TH FLOOR
NEW YORK, New York
10022</principalBusinessOfficeOrResidenceAddress>
        <citizenship>COWEN AND COMPANY, LLC - DELAWARE</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>BD</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>280,000

The beneficial ownership of the Reporting Person is comprised solely of 280,000 shares of Common Stock issuable upon the exercise of warrants to purchase shares of Common Stock that are beneficially owned by TD Securities (USA) LLC ("TDS"), as successor in interest to the Reporting Person (the "Warrants"). The Warrants held by the Reporting Person have an exercise price of $11.50 per share of Common Stock and are presently exercisable. The beneficial ownership percentage is based on (i) 14,031,845 shares of Common Stock deemed outstanding as of January 23, 2025, as reported by the Issuer in its quarterly report on Form 10-Q for the quarterly period ended September 30, 2024, filed with the SEC on January 23, 2025, plus (ii) the Warrants.  TDS is successor in interest to Cowen by merger effective as of December 9, 2024.</amountBeneficiallyOwned>
        <classPercent>2</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>COWEN AND COMPANY, LLC - 280,000</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>COWEN AND COMPANY, LLC - 0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>COWEN AND COMPANY, LLC - 280,000</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>COWEN AND COMPANY, LLC - 0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>COWEN AND COMPANY, LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ John Holmes</signature>
        <title>Vice President and Managing Director</title>
        <date>02/11/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureComments>By TD Securities (USA) LLC, as successor in interest</signatureComments>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
