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BALTIMORE (Feb. 2, 2022) – Constellation (Nasdaq: CEG) today announced the completion of its separation from Exelon Corp. (Nasdaq: EXC) and its launch as a standalone, publicly traded company and the nation’s largest carbon-free energy producer and leading supplier of clean energy solutions to millions of homes and businesses. Constellation will begin “regular way” trading on the Nasdaq Global Select Market today under the symbol “CEG.” Headquartered in Baltimore, Constellation will be a Fortune 200 company and operates in 48 states, Canada and the U.K., employing approximately 13,000 people.
“The future health and prosperity of our nation is inextricably linked to our success in eliminating carbon pollution, and our entire focus will be on helping our customers and communities achieve that goal,” said Joseph Dominguez, CEO of Constellation. “Our clean generation fleet and leading customer-facing platform are the foundation on which we will sustain and grow our business. Today begins an exciting transition for our company and employees as we affirm our mission to accelerate the transition to a carbon-free future and advance economic progress and equity in the communities we serve.”
Constellation is the nation’s largest producer of carbon-free energy and leading supplier of sustainable solutions to millions of residential, public sector and business customers, including three fourths of Fortune 100 companies. Its generation fleet powers more than 20 million homes and businesses and is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is nearly 90 percent carbon-free.
Constellation’s strategy to accelerate the nation’s response to the climate crisis includes its:
Constellation also is exploring growth opportunities that build on its core businesses and capitalize on the rapidly expanding demand for carbon-free energy and solutions to reduce emissions. The company can pursue numerous avenues for growth, including potential acquisitions of clean energy assets, creating clean hydrogen using its nuclear fleet, introducing new products and services for business customers or leveraging the generation fleet for repowering, co-location of data centers and other opportunities.
In connection with the separation, Exelon shareholders received one share of Constellation common stock for every three shares of Exelon common stock held at the close of business on January 20, the record date for the distribution. The transaction was tax-free to Exelon and its shareholders for U.S. federal income tax purposes. Exelon shareholders will retain their current shares of Exelon stock. For more information about Constellation’s business, visit our new corporate website at ConstellationEnergy.com.
About Constellation
A Fortune 200 company headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, emissions-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 16 million homes, providing about 10% of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100% carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and X.
Emily Duncan
Senior Vice President, Investor Relations & Strategic Initiatives
(833) 447-2783
investorrelations@constellation.com
If you are a member of the media, please contact:
667-218-7700
Paul Adams
paul.adams@constellation.com
David Snyder
david.snyder@constellation.com