Alternus Clean Energy acquires LiiON for $5 million
Author: PPD Team Date: 19/12/2024
Alternus Clean Energy has finalized the acquisition of LiiON, LLC through an asset purchase agreement executed by one of its US subsidiaries. The $5 million deal combines debt and equity, granting Alternus LiiON’s customer contracts, service agreements, and partnerships.
As part of the agreement, LiiON will provide an exclusive license to its intellectual property. The total consideration includes a $2 million non-convertible loan note, payable over three years, and 250,000 shares of common stock valued at $12.00 per share. This acquisition will immediately increase Alternus’ shareholder equity by approximately $3 million.
Alternus, a US-based clean energy independent power producer, develops, installs, owns, and operates utility-scale solar parks across the US and Europe. The company aims to achieve 3 GW of operational projects within the next five years.