Alternus Clean Energy, a company listed on Nasdaq under the ticker ALCE, has announced the completion of its acquisition of LiiON, a U.S.-based company specializing in advanced energy storage technologies. This acquisition aligns with Alternus’ strategy to expand its energy solutions portfolio and capture new market opportunities.
Details of the acquisition
The acquisition was completed through an asset purchase agreement between LiiON and a U.S. subsidiary of Alternus. For a total amount of $5 million, Alternus financed the transaction through a combination of debt and equity. The agreement includes a non-convertible loan note of $2 million, repayable over three years, and 250,000 shares of Alternus valued at $12 per share.
In return, Alternus acquires LiiON’s customer contracts, service agreements, and exclusive intellectual property rights. This transaction has an immediate impact on the company’s balance sheet, increasing its shareholder equity by $3 million.
Strengthening microgrid and BESS segments
LiiON will bring recurring revenues and advanced technological solutions to Alternus in the Battery Energy Storage Systems (BESS) domain. This acquisition is accompanied by the creation of a dedicated BESS division, which will target strategic clients and position Alternus in the growing microgrid market.
LiiON’s clients, including Amazon, Walmart, and NASA, provide Alternus with a solid foundation to develop activities in high-value segments, particularly critical infrastructure and industrial projects.
Synergies with Hover Energy
The acquisition of LiiON also complements the existing partnership between Alternus and Hover Energy, a company specializing in wind and solar microgrids. LiiON’s storage solutions will integrate with Hover’s microgrid systems, enhancing the technical capabilities and commercial potential of both companies.
The partnership includes the development of hybrid systems combining wind, solar, and storage to address the needs of high-energy-demand infrastructures such as data centers and large commercial sites.
Strategic perspectives
According to Vincent Browne, CEO of Alternus, this acquisition is a key step in transforming the company into a global energy player. It reflects a strategy of diversification and resource optimization to better meet the growing demand for integrated energy solutions.
Gary Gray, CEO of LiiON, added that joining Alternus will accelerate LiiON’s development and allow it to leverage the resources of a larger organization.
With this transaction, Alternus positions itself to capture a significant share of the microgrid and energy storage markets while consolidating its relationships with leading companies.
