Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 67

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 Factors” in
Part II of this Quarterly Report on Form 10-Q and in any subsequent filing we make with the SEC.

Overview

We are a renewable energy company committed to
advancing sustainable solutions. With a focus on utility-scale projects, such as utility solar parks, microgrids and battery storage,
we aim to deliver comprehensive, clean energy across Europe and America. Through strategic investments, we are building a portfolio poised
to lead the transition to a sustainable energy future.

The Company was incorporated in Delaware on May
14, 2021, and was originally known as Clean Earth Acquisitions Corp. (“Clean Earth”).

On October 12, 2022, Clean Earth entered into
a Business Combination Agreement, as amended by that certain First Amendment to the Business Combination Agreement, dated as of April
12, 2023 (the “First BCA Amendment”) (as amended by the First BCA Amendment, the “Initial Business Combination Agreement”),
and as amended and restated by that certain Amended and Restated Business Combination Agreement, dated as of December 22, 2023 (the “A&R
BCA”) (the Initial Business Combination Agreement, as amended and restated by the A&R BCA, the “Business Combination Agreement”),
by and among Clean Earth, Alternus Energy Group Plc (“AEG”), and the Sponsor. Following the approval of the Initial Business
Combination Agreement and the transactions contemplated thereby at the special meeting of the stockholders of Clean Earth held on December
4, 2023, the Company consummated the Business Combination on December 22, 2023. In accordance with the Business Combination Agreement,
Clean Earth issued 11,500 shares of common stock of Clean Earth, par value $0.0001 per share, to AEG, and AEG transferred to Clean Earth,
and Clean Earth received from AEG, all of the issued and outstanding equity interests in the Acquired Subsidiaries (as defined in the
Business Combination Agreement) (the “Equity Exchange,” and together with the other transactions contemplated by the Business
Combination Agreement, the “Business Combination”). In connection with the Closing, the Company changed its name from Clean
Earth Acquisition Corp. to Alternus Clean Energy, Inc.

The Company plans to use annual recurring revenues
(“ARR”) as a key metric in its financial management information and believes this method better reflects the long-term stability
of operations in the future. Annual recurring revenues are defined as the estimated