Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 324

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 324
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 have been
no changes to those policies that we consider to be material since the filing of our 2024 Annual Report on Form 10-K. The accounting principles
used in preparing our condensed consolidated financial statements conform in all material respects to GAAP.

Changes in and Disagreements with Accountants
on Accounting and Financial Disclosure

None. 

Item 3. Quantitative and Qualitative Disclosures
about Market Risk 

For quantitative and qualitative disclosures about
market risk, see “Item 7A., Quantitative and Qualitative Disclosures About Market Risk” of our Annual Report on Form 10-K
for the year ended December 31, 2024. Our exposures to market risk have not changed materially since December 31, 2024.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our disclosure controls and procedures are designed
to ensure that the information we are required to disclose in reports that we file or submit under the Securities Exchange Act of 1934,
as amended (the “Exchange Act”) is recorded, processed, summarized, and reported within the time periods specified in SEC
rules and forms, and that such information is accumulated and communicated to our management to allow timely decisions regarding required
disclosure.

Our management, with the participation and supervision
of Mr. Browne, our Chief Executive Officer and Interim Chief Financial Officer, have evaluated the effectiveness of our disclosure controls
and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this annual
report. Based on such evaluation, our Chief Executive Officer and Interim Chief Financial Officer have concluded that as of such date,
our disclosure controls and procedures were not, in design and operation, effective at a reasonable assurance level due to the material
weaknesses in internal control over financial reporting described below.

A material weakness is a deficiency, or combination
of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement
of the Company’s annual or interim consolidated financial statements will not be prevented or detected on a timely basis.

The Company has identified the following material
weakness in internal control over the financial reporting process.

    ●
    The Company did not design and maintain an effective control environment commensurate with its financial reporting requirements. Specifically, the Company lacked a sufficient number of professionals with an appropriate level of accounting knowledge, training and experience to appropriately analyze,