- CEO
- Russell Stidolph
- Full Time Employees
- 3
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 600 Lexington Avenue New York City NY United States of America 10022
- IPO Date
- Dec 13, 2021
- Business
- AltEnergy Acquisition Corp (NASDAQ:AEAE) is a blank check company, or special purpose acquisition company, formed in 2021 and headquartered in New York that seeks to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with a focus on alternative energy technologies and infrastructure globally, particularly targets with enterprise values of $400 million to $1 billion; it holds cash in trust for distribution to public stockholders upon such combination or liquidation and operates without significant revenue-generating activities. The company leverages the expertise of its sponsor, AltEnergy LLC, and management team led by CEO and Chairman Russell Stidolph in biofuels, renewable power generation, demand response software, transmission infrastructure and energy storage sectors. In February 2024, it entered a definitive business combination agreement valued at approximately $183 million in enterprise value with Car Tech LLC, a US-based manufacturer of stamped auto-body parts and subsidiary of Korea's Shinyoung Co Ltd that supplies Tier 1 OEMs including BMW and plans EV battery-related components for Ford's BlueOval SK venture; multiple deadline extensions were approved through May 2025 to consummate the deal, including a $50 million PIPE requirement and sponsor share forfeitures, but Car Tech terminated the merger on June 16, 2025, prompting AltEnergy to continue seeking alternative business combinations, with its latest extension pushing the completion deadline to May 2026.