Alternus Clean Energy Announces Binding Terms for Acquisition of Leading Storage and Solution Provider LiiON, LLC

Core Viewpoint - Alternus Clean Energy, Inc. has signed binding terms to acquire LiiON, LLC, a leader in advanced energy storage solutions, which will enhance Alternus' capabilities in delivering comprehensive renewable energy solutions and support its expansion into the microgrid market [2][3][4]. Company Overview - Alternus Clean Energy is an international renewable energy provider focused on developing, installing, owning, and operating utility-scale solar parks in North America and Europe. The company aims to reach 3GW of operating projects within five years [10]. - LiiON, LLC specializes in lithium stored energy solutions for data centers, telecom, and solar/wind enterprise markets, addressing a $3 billion market [11]. Acquisition Details - The acquisition involves an asset purchase agreement where Alternus will pay $5 million for LiiON's customer contracts, service agreements, and partnerships. The payment structure includes a $2 million non-convertible loan note and 250,000 shares of common stock at an underlying price of $12.00 [6]. - The acquisition is expected to improve Alternus' shareholder equity by approximately $3 million immediately upon completion [6]. Strategic Implications - The acquisition will allow Alternus to leverage LiiON's established relationships with blue-chip clients such as Amazon, NASA, and Walmart to drive growth in the microgrid market segment [5]. - A new Battery Energy Storage (BESS) division will be formed to enhance Alternus' utility storage pipeline, integrating existing LiiON revenues into this division [5]. Market Context - The data center industry is projected to grow significantly, with energy consumption already accounting for about 1% of global electricity use. Advanced energy storage systems are crucial for corporations aiming to meet carbon reduction goals [7].