Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 224

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 224
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 Poland, Italy, the Netherlands, and the Company’s headquarters in Ireland. |

| ● | United States - $250,000 |

The Company has four cash accounts
across the European countries and a net of $ million above government insurance amounts. The Company has six cash accounts across
the United States and a net of $ million above the government insurance amounts. The Company has not experienced any losses relating
to such accounts and believes it is not exposed to significant credit risk on its cash and cash equivalents or restricted cash.

Additionally, one customer
represented % of continuing operational revenues during the year ended December 31, 2023 and three customers represented % of the
Company’s continuing operational accounts receivable for the year ended December 31, 2023. These concentrations represent a risk
to revenues and cash flows should these customers face financial difficulties.

Economic Concentrations

The Company and its subsidiaries
own and operate solar generating facilities installed on buildings and land located across Europe and the US. Future operations could
be affected by changes in the economy, other conditions in those geographic areas or by changes in the demand for renewable energy.

Property and Equipment

Property and equipment are
stated at cost less accumulated depreciation, amortization and impairment. The cost of an asset comprises its purchase price and any
directly attributable costs of bringing the asset to its present working condition and location for its intended use. Depreciation is
computed on a straight-line basis over the estimated useful lives. The useful lives per asset class are as follows:

| ● | Solar Energy Facilities carry a useful life of the lesser of 35 years from the original placed in-service date or the lease term of the land on which they are built. |

| ● | Leasehold improvements are amortized                               
 over the shorter of the lease term or their estimated useful file. |

| ● | Furniture and fixtures carry a useful life of 3 years. |

| ● | Software and computer equipment carry a useful life of 3 and 5 years respectively. |

Expenditures for major renewals
and betterments which substantially extend the useful life of assets are capitalized. Expenditures for maintenance and repairs, which
do not materially extend the useful lives of assets, are charged to expense as incurred. Upon retirement, sale or other disposition of
equipment, the cost and accumulated depreciation are removed from the respective accounts and a gain or loss, if any, is recognized in
income/(loss) from operations in the Consolidated Statements of Operations and Comprehensive Loss during the