Alternus Clean - ALCE STOCK NEWS

Alternus Clean Energy Inc. (NASDAQ: ALCE) received a Delisting Notice from Nasdaq for failing to meet the minimum closing bid price requirement. The company plans to appeal and intends to implement a reverse stock split of 1-for-10 to 1-for-50, subject to stockholder approval at the Annual Meeting on September 26, 2024. This action aims to ensure continued Nasdaq listing and access to equity for growth activities.

Alternus recently announced a joint venture with Hover Energy, , securing four Wind-Powered Microgrid™ installations in Honolulu valued at $3-$4 million. The joint venture has a 60MW project pipeline. CEO Vincent Browne emphasized that the reverse split doesn't change the company's fundamental value and highlighted ongoing efforts to improve the balance sheet and execute growth initiatives in microgrid solutions.

Alternus Clean Energy, Inc. (NASDAQ: ALCE) has terminated its Membership Interest Purchase and Sales Agreement (MIPSA) with C2 Taiyo Fund I, LLP. The agreement, originally announced on May 1, 2024, was for the acquisition of approximately 80MWp solar installations across 8 U.S. states. The termination is due to the seller's failure to meet required closing conditions and fundamental changes in the portfolio of assets planned to be acquired.

CEO Vincent Browne stated that while this particular transaction couldn't proceed, Alternus remains committed to the U.S. renewable energy market. The company is pursuing other strategic acquisitions and business growth areas, including a recent joint venture announcement with Hover Energy. Alternus continues to focus on acquiring operating or ready-to-build projects in the renewable energy sector.

Alternus Clean Energy Inc. (NASDAQ: ALCE) and partner Hover Energy have secured contracts for three additional Wind-Powered Microgrid™ projects in Hawaii, following their first joint project announced 10 days ago. The four projects, totaling 1MW in installed capacity, are expected to generate 1.3GWh of clean energy annually, offsetting nearly 100% of annual power consumption. The total contract value is between $3-$4 million, with installation expected to begin in Q4 2024. Alternus and Hover are forming a new joint venture (51% Alternus, 49% Hover) to leverage their respective strengths in renewable energy. The Hawaii contracts and Hover's 60 MW pipeline are expected to be transferred to this joint venture later this year.

Alternus Clean Energy Inc. (NASDAQ: ALCE) reported financial results for Q2 and H1 2024. Key highlights include:

- Debt reduced by $80 million (40%) in H1
- Operating assets generated over 18GW hours of clean energy, up 14% YoY
- Revenues decreased 36% to $3.8 million in Q2
- Gross profit decreased 55% to $2.2 million in Q2
- Net loss increased to $6.8 million in Q2
- Announced joint venture with Hover Energy to enter microgrid market
- Continued pipeline buildout in North America
- Implemented $2 million reduction in fixed annual operating costs

The company faced challenges with lower electricity prices and increased costs, but is focusing on cost rationalization and business development to drive future growth.

Alternus Clean Energy (ALCE) and Hover Energy have announced a new joint venture to provide microgrid solutions for data centers and corporate customers aiming for net zero carbon emissions. The venture combines Hover's patented microgrid technology with Alternus' solar and project finance expertise. With the microgrid market projected to reach $100 billion by 2032, the partnership has already developed a pipeline of over 35 projects totaling 60MW capacity in the US, UK, and Ireland.

Alternus will own 51% of the venture and recognize all revenue. The deal involves Alternus issuing 5 million restricted ALCE shares to Hover initially, with potential for additional shares based on performance. This strategic move positions the joint venture to capitalize on the growing demand for distributed energy solutions, particularly in power-hungry data centers.

Alternus Clean Energy (NASDAQ: ALCE), a leading utility-scale transatlantic, clean energy independent power producer (IPP), has partnered with B2i Digital to execute a comprehensive investor communication and education initiative. The collaboration aims to enhance shareholder communication, transparency, and sustained engagement. B2i Digital will leverage its expertise in targeted marketing to elevate awareness of Alternus' unique position in the renewable energy sector and its growth potential among the investment community. This initiative underscores Alternus' commitment to effective investor relations and education.

Alternus Clean Energy, Inc. (NASDAQ: ALCE) plans to acquire over 80 MWp of operating solar PV projects across eight U.S. states. The portfolio includes 33 projects with long-term agreements, generating $6.7 million in revenue annually. The acquisition, valued at approximately $60 million, aims to triple the company's operational projects, enhancing financial performance and operational efficiencies. CEO Vincent Browne highlights the strategic shift towards the U.S. renewable market, following the successful Nasdaq listing. The transaction is subject to closing conditions.

Alternus Clean Energy, Inc. announced the closing of a $2.16 million private placement of Convertible Notes and Warrants. The investment is in the form of a Senior Unsecured Original Issue 8% Discount Convertible Note, resulting in proceeds of approximately $2.0 million. The Note has a 12-month maturity and will be convertible into shares of common stock at $0.48 per share. The institutional investor also received a five and a half year warrant to purchase shares. Maxim Group acted as the exclusive placement agent for the private placement.

Alternus Clean Energy, Inc. reported a 17.5% increase in revenue and a 25% increase in gross profit year-over-year for FY 2023. The company reduced debt by $77 million, produced 165 GWH of clean energy, and divested non-strategic assets in Poland and the Netherlands. Despite a net loss of $69.5 million due to one-time events, Alternus remains focused on reaching 3GW of operational assets within five years. The company also announced the acquisition of solar PV projects in the US and Spain, as well as a successful business combination with Clean Earth resulting in a Nasdaq listing under the ticker symbol 'ALCE'.