Alternus Clean Energy, Inc., a US-based renewable energy provider, plans to acquireLiiON, LLC, a US company specializing in energy storage solutions. Founded in 2009, LiiON supports data centers, retail, telecom, and renewable energy sectors, serving clients like Amazon, NASA, and Walmart. The $5 million deal involves an asset purchase agreement, granting Alternus access to LiiON's contracts, partnerships, and intellectual property. Payment includes a $2 million loan note over three years and 250,000 common stock shares valued at $12.00 each. Expected to close by the end of fiscal 2024, the acquisition could boost Alternus' shareholder equity by $3 million, enhancing its renewable energy offerings and market reach.