Dublin, Ireland - November 14, 2023 Alternus Energy Group plc ("Alternus")
(OSE: ALT), today announced that Clean Earth Acquisitions Corp. has filed a
definitive proxy statement (the "Proxy Statement") with the U.S. Securities and
Exchange Commission ("SEC") and announced the date for Clean Earth's Special
Meeting of Stockholders (the "Special Meeting") to, among other things, approve
the previously announced proposed business combination (the "Business
Combination") with Alternus.
Clean Earth will hold the Special Meeting on December 4th, 2023 at 10:00 AM EST
virtually via live webcast at https://web.lumiagm.com/290463470 (passcode
"cleanearth2023"). Clean Earth stockholders of record as of the close of
business on November 8th, 2023 (the "Record Date") are entitled to receive
notice of, attend and vote at the Special Meeting.
Investors and shareholders of Alternus are urged to read the entire Proxy
Statement and other documents filed in connection with the Business Combination
with the SEC, as they contain important information about the proposed
transaction.
CEO Comments
Vincent Browne, CEO of Alternus, commented, "Today's announcement represents
significant progress in our mission to create a lasting impact in our industry.
As we prepare to merge with Clean Earth, which will open opportunities to access
capital help accelerate our growth, we are filled with a sense of purpose and
anticipation. I want to express my appreciation to our team for their tireless
effort, and to our future partners for their trust and collaboration."
"This filing is a key milestone in completing the Business Combination with
Alternus," stated Aaron Ratner, CEO of Clean Earth. "We could not have made this
progress without the support of our stockholders, whose patience was critical as
we navigated a complex process. As we contemplate the outlook for renewable
energy and Alternus' leading position, we are firmly convinced that completing
this deal is in the best interests of our stockholders."
Business Combination Agreement
On October 12, 2022, Clean Earth entered into a definitive business combination
agreement (as amended on April 12, 2023) with Alternus and Clean Earth
Acquisitions Sponsor LLC, which, upon stockholder approval, will result in
Alternus becoming a publicly traded company. Upon closing of the transaction,
which is expected to occur shortly after the Special Meeting, and subject to the
terms of the business combination agreement, Clean Earth will be renamed
"Alternus Clean Energy Inc." An application for listing on the Nasdaq Capital
Market of the combined company's common stock and warrants under the new ticker
symbols "ALCE" and "ALCEW," respectively, is expected to be effective upon
consummation of the Business Combination.
About Alternus Energy Group Plc
Alternus is a transatlantic clean energy independent power producer (IPP).
Headquartered in Ireland, we currently develop, install, own, and operate
utility scale solar parks in Europe and the U.S. Our highly motivated and
dynamic team at Alternus have achieved rapid growth in recent years. Building on
this, our goal is to reach 3GW of operating projects by the end of 2026 through
continued organic development activities and targeted strategic opportunities.
Our vision is to become a leading provider of 24/7 clean energy delivering a
sustainable future of renewable power with people and planet in harmony. For
more information visit www.alternusenergy.com.
About Clean Earth Acquisitions Corp.
Clean Earth Acquisitions Corp. is a blank check company formed for the purpose
of effecting a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business combination with one
or more businesses or entities, focused on identifying and developing a
strategic partnership with a business that participates in the global energy
transition ecosystem that is facilitating the way that energy is produced,
stored, transmitted, distributed, and consumed, all while reducing or mitigating
greenhouse gas emissions. For more information visit
www.cleanearthacquisitions.com.
Forward-Looking Statements
Certain statements included in this notice that are not historical facts are
forward-looking statements for purposes of the safe harbor provisions under the
United States Private Securities Litigation Reform Act of 1995. Forward-looking
statements are sometimes accompanied by words such as "believe," "may," "will,"
"estimate," "continue," "anticipate," "intend," "expect," "should," "would,"
"plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar
expressions that predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements include, but
are not limited to, statements regarding Alternus' growth, prospects and the
market for solar parks and other renewable power sources. These statements are
based on various assumptions, whether or not identified in this notice, and on
the current expectations of the respective management teams of Alternus and
Clean Earth and are not predictions of actual performance. These forward-looking
statements are provided for illustrative purposes only and are not intended to
serve as and must not be relied on by an investor as, a guarantee, an assurance,
a prediction or a definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will differ from
assumptions. Many actual events and circumstances are beyond the control of
Alternus and Clean Earth.
These forward-looking statements are subject to a number of risks and
uncertainties, including: the impact of reduction, modification or elimination
of government subsidies and economic incentives (including, but not limited to,
with respect to solar parks)