AleAnna, Inc. Reports Fiscal Year 2024 Results

A Series of Milestones, Including Public Listing, Were Achieved in 2024; Longanesi First Gas Production Has Been Achieved

Fiscal Year 2024 and Recent Company Highlights:

   -- Gas production at Longanesi has commenced as of March 13, 2025 
 
   -- Between March 2024 and July 2024, AleAnna successfully completed three 
      separate strategic acquisitions of renewable natural gas ("RNG") plant 
      projects in Italy for aggregate consideration of approximately $9.7 
      million, which generated $1.4 million in electricity production revenue 
      in 2024 
 
   -- On December 13, 2024, AleAnna completed its de-SPAC transaction and 
      became publicly traded on Nasdaq under the ticker symbol "ANNA" 
 
   -- AleAnna ended fiscal year 2024 with approximately $28.3 million in cash 
      and cash equivalents 

DALLAS, March 31, 2025 (GLOBE NEWSWIRE) -- AleAnna, Inc. ("AleAnna" or the "Company") $(ANNA)$ today reported results for fiscal year 2024. Fiscal year 2024 was a transformative year for the Company, highlighted by the successful completion of our de-SPAC public listing transaction. AleAnna also launched its RNG asset acquisition program to expand the Company's renewable energy portfolio. At year-end, AleAnna had $28.3 million in cash and cash equivalents, providing a solid foundation to advance its strategic initiatives.

More recently, in March 2025, AleAnna and its operating partner Padana reached a major milestone with the commencement of production at the Longanesi field, marking a significant step forward for the Company.

Management Commentary

Marco Brun, Chief Executive Officer, reflected on AleAnna's milestone year and recent achievements: "2024 was a pivotal year for AleAnna as we successfully completed our de-SPAC transaction and became a publicly traded company. We also strengthened our position in Italy's renewable natural gas sector with strategic acquisitions and secured a long-term gas sales agreement with Shell Energy Europe.

"As we enter 2025, we are proud to have achieved first production and sales from Longanesi, marking a major milestone in our growth strategy. We remain committed to driving sustainable energy development while delivering value to our shareholders."

About AleAnna

AleAnna is a technology-driven energy company focused on bringing sustainability and new supplies of low-carbon natural gas and RNG to Italy, aligning traditional energy operations with renewable solutions, with developments like the Longanesi field leading the way in supporting a responsible energy transition. With three conventional gas discoveries in Italy already made and fourteen new natural gas exploration projects planned this decade, AleAnna plays a pivotal role in Italy's energy transition. Italy's extensive infrastructure, featuring 33,000 kilometers of gas pipelines, three major gas storage facilities, and a strong base of existing RNG facilities, aligns with AleAnna's commitment to sustainability. AleAnna's RNG projects' portfolio includes three plants under development and almost 100 projects representing approximately EUR1.1 billion potential investment in the next few years. AleAnna operates regional headquarters in Dallas, Texas, and Rome, Italy.

Forward-Looking Statements

The information included herein 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. Certain statements, other than statements of present or historical fact included herein regarding AleAnna's future operations, financial position, plans and objectives are forward-looking statements. When used herein, including any statements made in connection herewith, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," and other similar expressions are forward-looking statements. However, not all forward-looking statements contain such identifying words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on AleAnna's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of AleAnna's control. AleAnna's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements, which speak only as of the date made. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to, those under "Risk Factors" in AleAnna's definitive proxy statement/prospectus filed by AleAnna with the SEC on November 21, 2024, as well as general economic conditions; AleAnna's need for additional capital; risks associated with the growth of AleAnna's business; and changes in the regulatory environment in which AleAnna operates. Additional information concerning these and other factors that may impact AleAnna's expectations and projections can be found in filings it makes with the SEC, and other documents filed or to be filed with the SEC by AleAnna. SEC filings are available on the SEC's website at www.sec.gov. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof.

Investor Relations Contact

Bill Dirks

wkdirks@aleannagroup.com

Website

https://www.aleannainc.com/

ALEANNA, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

 
                                    For the Year Ended December 31, 
                                         2024               2023 
                                  ------------------   -------------- 
 
Revenues                           $       1,420,030   $            - 
 
Operating expenses: 
  Cost of revenues                 $       1,043,174   $            - 
  General and administrative               6,264,087        5,634,150 
  Depreciation                               133,516                - 
  Accretion of asset retirement 
   obligation                                133,239          133,239 
  Business Combination 
   transaction expenses                    8,398,653                - 
   Total operating expenses               15,972,669        5,767,389 
                                      --------------    ------------- 
 
   Operating loss                        (14,552,639)      (5,767,389) 
                                      --------------    ------------- 
 
Other income (expense): 
  Interest and other income 
   (expense)                               1,948,281         (102,041) 
  Change in fair value of 
   derivative liability                      173,177          708,869 
   Total other income (expense)            2,121,458          606,828 
                                      --------------    ------------- 
   Net loss                        $     (12,431,181)  $   (5,160,561) 
   Deemed dividend to Class 1 
    Preferred Units redemption 
    value                               (155,423,177)     (53,219,200) 
   Net loss attributable to 
    noncontrolling interests                  87,511                - 
                                      --------------    ------------- 
   Net loss attributable to 
    Class A Common stockholders 
    or holders of Common Member 
    Units                          $    (167,766,847)  $  (58,379,761) 
 
Other comprehensive income 
(loss) 
   Currency translation 
    adjustment                            (1,548,154)         218,908 
                                      --------------    ------------- 
   Comprehensive loss                    (13,979,335)      (4,941,653) 
   Comprehensive loss 
    attributable to 
    noncontrolling interests                  87,511                - 
                                      --------------    ------------- 
Total comprehensive loss 
 attributable to Class A Common 
 stockholders                      $     (13,891,824)  $   (4,941,653) 
                                      ==============    ============= 
 
  Weighted average shares of 
   Class A Common Stock 
   outstanding, basic and 
   diluted                                38,286,170       31,643,646 
  Net loss per share of Class A 
   Common Stock, basic and 
   diluted                         $           (4.38)  $        (1.84) 
 

ALEANNA, INC.

CONSOLIDATED BALANCE SHEETS

AS OF DECEMBER 31, 2024 AND 2023

 
                               December 31, 2024     December 31, 2023 
                              -------------------   ------------------- 
ASSETS 
Current Assets: 
  Cash and cash equivalents    $       28,330,159    $        6,759,265 
  Accounts receivable                   1,225,297                     - 
  Prepaid expenses and other 
   assets                               1,666,155                27,485 
                                  ---------------       --------------- 
    Total Current Assets               31,221,611             6,786,750 
 
Non-current assets: 
  Natural gas and other 
   properties, successful 
   efforts method                      33,979,014            22,480,830 
  Renewable natural gas 
   properties, net of 
   accumulated depreciation 
   of $132,094                          9,296,039                     - 
  Value-added tax refund 
   receivable                           6,845,030             4,425,353 
  Operating lease 
   right-of-use assets                  1,744,897                     - 

(MORE TO FOLLOW) Dow Jones Newswires

March 31, 2025 16:15 ET (20:15 GMT)