The reduced heterobimetallic complex (THF)Zr(MesNP(i)Pr2)3CoN2 (1) has been examined along with a series of structurally similar reference compounds using X-ray absorption near edge structure (XANES) spectroscopy. Complex 1 has been shown to be highly reactive, often via one-electron pathways that might be expected for a d(1) Zr(III) complex. However, the presence of two strongly interacting metals in complex 1 renders the assignment of oxidation states ambiguous. Both Zr and Co K-edge XANES spectra reveal that the most accurate description of complex 1 is that of a Zr(IV)/Co(-I) zwitterion. Electronic structure calculations support this assignment.