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    ALLG   NL0015000TA9

ALLEGO N.V.

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Allego and REWE Nord Expand Partnership to Build Hundreds of Fast Charging Locations

11/16/2021 | 03:02am EDT

Allego Holding B.V. (“Allego” or the “Company”), a leading pan-European electric vehicle (“EV”) charging network, which recently announced its proposed business combination with Spartan Acquisition Corp. III (NYSE: SPAQ), today announced that it is expanding its partnership with REWE Nord to build hundreds of new charging locations across Germany. Allego and REWE Nord first partnered in 2018 to build 14 fast charging locations across the REWE Nord network in Northern Germany. Given the uptick in electric vehicle use associated with retail shopping, Allego and REWE Nord are expanding their partnership to pursue a more ambitious goal.

“We are very pleased to expand our current partnership with REWE Nord and to further build out the network of fast chargers with this fantastic retail brand,” said Ulf Schulte, Managing Director of Allego Germany/DACH. “Combining shopping and charging is proving to be extremely popular with EV drivers. We are seeing this pattern in other parts of Europe as well, and we have a lot of confidence in this market segment.”

The new locations will employ fast charging technology, the 150 kW Hypercharger, which charges most vehicles in 20 to 40 minutes. The companies aim to have 100 new locations operational by the end of 2022. The 14 original locations built at REWE Nord in 2018 may also be upgraded to include fast charging technology. All energy used will come from renewable energy sources to achieve a minimal environmental impact associated with vehicle charging. Within the next few years, REWE Nord plans to offer fast charging at 600 additional locations.

“At REWE Nord we are equally pleased to partner with Allego. Back in 2018, we were one of the first major retail chains in Europe to provide EV charging services on our premises. Now we are excited to expand this service within the next 12 months to over 100 REWE markets in our network,” commented Jochen Vogel, Chairman of the Board of REWE Nord.

“Just as REWE Nord is accessible to every consumer, so are Allego’s charging stations universally accessible to all electric vehicles,” added Stefan Griepenstroh, Team Lead Energy Management at REWE Nord.

The project is expected to commence construction by the end of 2021, with 100 locations expected to be completed by the end of 2022.

About Allego

Allego delivers charging solutions for electric cars, motors, buses and trucks, for consumers, businesses and cities. Allego’s end-to-end charging solutions make it easier for businesses and cities to deliver the infrastructure drivers need, while the scalability of our solutions makes us the partner of the future. Founded in 2013, Allego is a leader in charging solutions, with an international charging network comprised of more than 26,000 charge points operational throughout Europe – and growing rapidly. Our charging solutions are connected to our proprietary platform, EV-Cloud, which gives us and our customers a full portfolio of features and services to meet and exceed market demands. We are committed to providing independent, reliable and safe charging solutions, agnostic of vehicle model or network affiliation. At Allego, we strive every day to make EV charging easier, more convenient and more enjoyable for all.

Forward-Looking Statements.
All statements other than statements of historical facts contained in this press release (“Press Release”) are forward-looking statements. Forward-looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,”, “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this Press Release, and on the current expectations of Allego’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of Allego. These forward-looking statements are subject to a number of risks and uncertainties, including (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) risks related to the rollout of Allego’s business strategy and the timing of expected business milestones; (iii) risks related to the consummation of the proposed business combination with Spartan Acquisition Corp. III being delayed or not occurring at all; (iv) risks related to political and macroeconomic uncertainty; (v) the risk that the installation of the charging facilities at certain REWE Nord locations is delayed or does not occur at all and (vi) the impact of the global COVID-19 pandemic, including its impact on any of the foregoing risks. If any of these risks materialize or Allego’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Allego does not presently know or that Allego currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Allego’s expectations, plans or forecasts of future events and views as of the date of this Press Release. Allego anticipates that subsequent events and developments will cause Allego’s assessments to change. However, while Allego may elect to update these forward-looking statements at some point in the future, Allego specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Allego’s assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements.


© Business Wire 2021
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Financials (USD)
Sales 2022 164 M - -
Net income 2022 - - -
Net Debt 2022 1,30 M - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 1 352 M 1 352 M -
EV / Sales 2022 8,24x
EV / Sales 2023 6,34x
Nbr of Employees 146
Free-Float 100%
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Number of Analysts 4
Last Close Price 5,06 $
Average target price 13,25 $
Spread / Average Target 162%
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Managers and Directors
Mathieu Bonnet Chief Executive Officer & Director
Ton Louwers Chief Operating & Financial Officer
Jane C. Garvey Chairman
Alexis Galley Chief Technical Officer
Christian Vollmann Director
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