Business Description

Each of the terms “ Alternus, ” the “ Company, ” “ we, ” “ our, ” “ us, ” and similar terms used herein refer collectively to Alternus Clean Energy, Inc. and where appropriate, our subsidiaries. The Company The Company was incorporated on May 14, 2021 under the laws of Delaware and was originally known as Clean Earth Acquisitions Corp. The Company closed a business combination on December 22, 2023 and changed its name to Alternus Clean Energy, Inc. We currently have 13 employees; 6 employees are located in Dublin, Ireland, 2 are located at the Company’s headquarters located in New York, 2 remote employees in the US and 3 are located in Europe. Our employees perform various services such as business development, finance, and management functions. We are a specialized energy transition platform dedicated to powering the next generation of global infrastructure. Our mission is to secure the future of global power by deploying a diversified portfolio of onsite energy technologies that provide energy independence, predictable value, and resilience for the world’s most critical infrastructure. Our vision is to be a leading global platform for decentralized energy, empowering the digital economy to thrive beyond the limitations of the traditional power grid. We bridge the gap between emerging energy technologies and high-demand sectors by delivering 24/7 energy solutions that leverage a diverse suite of technologies, including wind, solar, and battery storage. By bypassing grid limitations and addressing the energy bottlenecks faced by data centers and industrial facilities, we offer a scalable, capital-light model designed to enable investors to participate in the rapid expansion of the digital economy and the essential transition to a resilient energy future. Our near-term focus is the microgrid and onsite energy market, a rapidly growing segment driven by surging electricity demand from artificial intelligence infrastructure, data centers, and the onshoring of heavy industry. In furtherance of this strategy, we have formed EverOn Energy LLC ("EverOn"), a joint venture with Hover Energy LLC ("Hover Energy"), to deliver state-of-the-art wind-powered clean energy microgrids to corporates, and other facility owners across the United States and United Kingdom. EverOn combines Hover Energy’s award-winning, patented compact wind turbine technology with Alternus’s project development, financing, and asset management expertise, a pairing that provides a compelling and differentiated offering in the market today. EverOn’s microgrid systems integrate compact wind turbines, solar, and battery storage to produce clean, low-cost power directly on a customer’s premises. Solutions are delivered under long-term Power Purchase Agreements (“PPAs”) or Energy-as-a-Service (“EaaS”) contracts at rates below what customers currently pay, requiring no upfront capital expenditure from the customer. This model is designed to provide faster time to revenues and lower equity requirements compared to traditional utility-scale energy development, while generating stable, long-term recurring income for Alternus. Our Operating Subsidiaries As of the date of filing, the Company is a holding company that operates through 8 operating subsidiaries, as listed in Exhibit 21.1 to this Annual Report on Form 10-K. Business Model Alternus operates as a focused energy transition platform, dedicated to the development and long-term ownership of decentralized, onsite energy solutions.