Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 135

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 135
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Company’s United States Operations segment.

The LiiON Battery Storage Business did not have a material effect on
the Company’s operations for the three month period ending March 31, 2025.

6. Prepaid Expenses and Other Current Assets

Prepaid and other current
expenses generally consist of amounts paid to vendors for services that have not yet been performed. Other receivable consist of the following
(in thousands):

    March 31,  
    December 31, 

    2025  
    2024 

    (in thousands) 
  
    Prepaid expenses and other current assets 
    $131  
    $131 
  
    Other receivable 
     2  
     - 
  
    Total 
    $133  
    $131 

7. Capitalized development cost and other long-term assets

Capitalized development costs
are amounts paid to vendors that are related to the purchase and construction of solar energy facilities. Long-term prepaid expenses and
other receivables consist of amounts owed to the Company as well as amounts paid to vendors for services that have yet to be received
by the Company. Capitalized development costs and other long-term assets consisted of the following:

    March 31,  
    December 31, 

    2025  
    2024 

    (in thousands) 
  
    Capitalized development cost 
    $2,940  
    $4,775 
  
    Long-term prepaid expenses 
     518  
     518 
  
    Total 
    $3,458  
    $5,293 

Capitalized development costs
relate to various projects that are under development for the period. As the Company closes either a purchase or development of new solar
parks, these development costs are added to the final asset displayed in Property and Equipment. If the Company does not close on the
prospective project, these costs are written off to Development Cost on the Consolidated Statement Operations and Comprehensive Loss.

Capitalized development cost
as of March 31, 2025 consisted of $2.9 million of active development in the US. Capitalized development costs as of December 31, 2024
consisted of $1.2 million of active development in the US and $3.6 million across Europe.

Long-term Prepaid Expenses
consist of estimated income tax payments made by Clean Earth prior to the business combination in December 2023.

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