US-based Alternus Clean Energy, Inc., a global renewable energy firm, has acquired US-based energy storage provider LiiON, LLC. The $5 million deal includes a $2 million loan payable in three years and 250,000 shares at $12 each. This boosts Alternus‘ shareholder equity by $3 million. Founded in 2009, LiiON offers advanced battery tech and contracts with clients like Amazon, Walmart, and NASA. Alternus aims to leverage these assets to expand its energy storage offerings. LiiON’s revenues will support a new Battery Energy Storage Systems (BESS) division. Alternus is also pursuing a joint venture with Hover Energy, LLC. This partnership of 3, will integrate wind microgrids, solar, and storage solutions. The company claims these moves will meet rising energy demands, particularly from data centers and corporate clients.
LiiON joins Alternus, enhancing energy storage capabilities
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