Alternus Clean Energy Completes Acquisition of LiiON, a Leading US-Based Provider of Advanced Energy Storage Solutions [Yahoo! Finance]
Alternus Clean Energy, Inc. - Class A (ALCE)
Company Research
Source: Yahoo! Finance
Additionally, LiiON's existing revenues will be integrated into Alternus' Battery Energy Storage Systems (BESS) division. The acquisition is a critical step for Alternus as it pursues its strategy to become a more comprehensive energy provider. The company plans to build on LiiON's relationships with blue-chip clients, including Amazon, Walmart, and NASA, to drive growth in its new microgrid market segment. Alternus will pay $5 million through a mix of debt and equity, consisting of a $2 million non-convertible loan note payable over three years, and 250,000 shares of common stock, reflecting an underlying share price of $12.00 per share. LiiON delivers proprietary lithium stored energy solutions into applications for the data center, telecom, cable, and solar/wind enterprise markets. The company's advanced, patented and patent-pending platform is engineered to work with existing equipment, controls and monitoring systems to ensure power quality uptime and protection. Alternus
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Sec Filings
- 12/20/24 - Form EFFECT
- 12/16/24 - Form S-1/A
- 12/12/24 - Form 8-K
- ALCE's page on the SEC website