Alternus Energy Completes and Files Audit for 2018

Advances its Process to Become SEC Reporting

New York, NY, July 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Alternus Energy Inc. ALTN (the "Company" or "Alternus"), a global renewable energy company, today announced that its 2018 annual financial audit has been completed. Marcum LLP issued an opinion on Alternus Energy's audited financial statements, which have now been filed with the OTC Markets.

The filings and disclosures are available here: 

https://www.otcmarkets.com/stock/ALTN/disclosure

Joseph Duey, Alternus Energy's Chief Financial Officer, commented, "We are pleased to report this progress in advancing our process to become an SEC reporting company in the U.S. It's an important milestone in achieving our capital markets goal of up-listing to a U.S. National Exchange at the earliest opportunity. Such a move will make the Company more accessible to a wider investor audience."

Vincent Browne, Alternus Energy's Chief Executive Officer, President and Chairman, added, "While we continue to grow our business by acquiring additional PV solar parks across Europe to further enhance our long term government counterparty income streams, it is just as important for us to advance our capital markets activities. With our 2018 annual financial statements complete and audited, we anticipate filing a Form 10 with the U.S. Securities and Exchange Commission in the coming weeks. We look forward to elevating our capital markets efforts in parallel to building our business, as we continue our mission to create long-term shareholder value at the lowest possible risk."

About Alternus Energy Inc.

Alternus Energy Inc. is a global renewable energy company that owns and operates Utility Scale Solar parks internationally. Each solar park generates clean energy every day that is sold to national power grids under long term, government counterparty, fixed price contracts.  The Company currently has operational solar parks in Germany, Italy and Romania with contracts in place to add additional solar parks in the Netherlands. For further information please go to: www.AlternusEnergy.com

Forward-looking Statements 

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential" and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the OTC Markets. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.

Contact:

p212-220-7434

contact@alternusenergy.com