Alternus Clean Energy Files Q1 2024 10-Q
Ticker: ALCE · Form: 10-Q · Filed: May 21, 2024 · CIK: 1883984
Sentiment: neutral
Topics: 10-Q, quarterly-report, energy
TL;DR
ACEN filed its Q1 10-Q. Financials are in.
AI Summary
Alternus Clean Energy, Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Clean Earth Acquisitions Corp., is incorporated in Delaware and operates in the electric and other services sector. Its principal executive offices are located in Fort Mill, South Carolina.
Why It Matters
This filing provides investors with the latest financial performance and operational updates for Alternus Clean Energy, Inc. during the first quarter of 2024.
Risk Assessment
Risk Level: medium — As a publicly traded company filing quarterly reports, there are inherent risks associated with its financial performance and market position.
Key Players & Entities
- Alternus Clean Energy, Inc. (company) — Registrant
- March 31, 2024 (date) — Period End Date
- Clean Earth Acquisitions Corp. (company) — Former Company Name
- Delaware (jurisdiction) — State of Incorporation
- Fort Mill, South Carolina (location) — Principal Executive Offices
FAQ
What is the filing type and period end date for Alternus Clean Energy, Inc.?
The filing is a 10-Q (Quarterly Report) for the period ended March 31, 2024.
What was Alternus Clean Energy, Inc. previously named?
Alternus Clean Energy, Inc. was formerly known as Clean Earth Acquisitions Corp.
In which state is Alternus Clean Energy, Inc. incorporated?
Alternus Clean Energy, Inc. is incorporated in Delaware.
Where are Alternus Clean Energy, Inc.'s principal executive offices located?
The principal executive offices of Alternus Clean Energy, Inc. are located at 360 Kingsley Park Drive, Suite 250, Fort Mill, South Carolina.
What is the SEC file number for Alternus Clean Energy, Inc.?
The SEC file number for Alternus Clean Energy, Inc. is 001-41306.
Filing Stats: 4,731 words · 19 min read · ~16 pages · Grade level 12.2 · Accepted 2024-05-21 16:01:55
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share ALCE The Nasdaq Stock Market
Filing Documents
- ea0206482-10q_alternus.htm (10-Q) — 1210KB
- ea020648201ex31-1_alternus.htm (EX-31.1) — 10KB
- ea020648201ex32-1_alternus.htm (EX-32.1) — 4KB
- 0001213900-24-045568.txt ( ) — 8611KB
- aegp-20240331.xsd (EX-101.SCH) — 109KB
- aegp-20240331_cal.xml (EX-101.CAL) — 57KB
- aegp-20240331_def.xml (EX-101.DEF) — 437KB
- aegp-20240331_lab.xml (EX-101.LAB) — 772KB
- aegp-20240331_pre.xml (EX-101.PRE) — 435KB
- ea0206482-10q_alternus_htm.xml (XML) — 1045KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 1 Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 1 Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 2 Consolidated Statements of Stockholders' Equity (Deficit) for the Three Months Ended March 31, 2024 and 2023 3 Consolidated Statements of Cash Flows for the Three months Ended March 31, 2024 and 2023 4
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 49
Controls and Procedures
Item 4. Controls and Procedures 49
- OTHER INFORMATION
PART II - OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 51
Risk Factors
Item 1A. Risk Factors 51
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 52
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 52 Item 5. Other Information 52
Exhibits
Item 6. Exhibits 52
Signatures
Signatures 53 i CAUTIONARY Certain of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. All statements contained in this Quarterly Report on Form 10-Q other than statements of historical facts, including statements regarding our future results of operations and financial position, our business strategy and plans and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect" and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in "Item 1A. Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2023, in "Item 1A. Risk Factors" in Part II of this Quarterly Report on Form 10-Q and in any subsequent filing we make with the SEC, as well as in any documents incorporated by reference that describe risks and factors that could cause results to differ materially from those projected in these forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in