- Alternus Clean Energy, Inc. (ALCE) entered into a Securities Purchase Agreement and a Joint Venture Operating Agreement with Hover Energy LLC on **September 30, 2025**, establishing a joint venture.  **[1883984_0001213900-25-096559_ea0260438-8k_alternus.htm:1]** 
- As part of this transaction, ALCE issued a total of **21,150 shares of Series B Convertible Preferred Stock** to Hover Energy LLC, with each share valued at **$1,000**, for an aggregate value of **$21,150,000**.  **[1883984_0001213900-25-096559_ea026043801ex3-1_alternus.htm:0]** **[1883984_0001213900-25-096559_ea0260438-8k_alternus.htm:1]** **[1883984_0001213900-25-096559_ea0260438-8k_alternus.htm:3]** **[1883984_0001213900-25-096559_ea0260438-8k_alternus.htm:5]** 
- This issuance included **20,000 shares** in exchange for a **49% interest** in ALCE's subsidiary, EverOn Energy LLC, and **1,150 shares** as part of a **$5,150,000** settlement for the termination of a Strategic Alliance Agreement.  **[1883984_0001213900-25-096559_ea026043801ex10-3_alternus.htm:0]** **[1883984_0001213900-25-096559_ea0260438-8k_alternus.htm:1]** 
- The Series B Convertible Preferred Stock is convertible into common stock at a price of **$1.00 per share**, grants full voting rights on an "as-converted" basis, but does not entitle holders to dividend payments.  **[1883984_0001213900-25-096559_ea026043801ex3-1_alternus.htm:0]** **[1883984_0001213900-25-096559_ea026043801ex3-1_alternus.htm:1]** **[1883984_0001213900-25-096559_ea0260438-8k_alternus.htm:3]** **[1883984_0001213900-25-096559_ea0260438-8k_alternus.htm:4]** 
- The joint venture is expected to bring in a significant pipeline of Wind Powered Microgrid projects, with future revenue streams and income initially valued at over **$50 million**.  **[1883984_0001213900-25-096559_ea0260438-8k_alternus.htm:1]**

Alternus Clean Energy (ALCE)