Allego Enters Into Partnership with Burger King France to Enable Its Restaurants to Provide Ultra-Fast Charging, Reinforcing Allego’s Leading Position in France

Rhea-AI Summary

Allego and Burger King France have formed an exclusive partnership to install ultra-fast charging stations at Burger King locations across France. The first sites are set to be operational by Q3 2024. Allego aims to become a major destination charging provider in the French market, with a network of chargers at supermarkets, restaurants, cinemas, and shopping centers.

Insights

Market Research Analyst

From a market expansion perspective, the collaboration between Allego and Burger King France is a strategic move that taps into the growing electric vehicle (EV) market. The installation of ultra-fast charging stations at Burger King locations caters to the increasing consumer demand for EV infrastructure, potentially driving more traffic to Burger King outlets. This could result in a symbiotic relationship where EV drivers are drawn to Burger King for convenience, while Burger King benefits from an increase in customer dwell time.

The partnership aligns with broader market trends where businesses are leveraging EV charging as a value-added service to attract customers. By becoming a destination for EV charging, Burger King could differentiate itself from competitors, potentially impacting consumer choice and loyalty. For Allego, expanding its charging network to include fast-food chains enhances its visibility and accessibility, which is crucial in the competitive EV charging landscape.

Financial Analyst

Analyzing the financial implications, the partnership between Allego and Burger King France could lead to capital-intensive investments initially, given the costs associated with installing ultra-fast charging infrastructure. However, the long-term benefits might outweigh the initial outlay, as increased EV adoption could lead to higher utilization rates of charging stations, thus generating additional revenue streams for Allego.

For Burger King France, the investment in EV charging stations may be justified by the potential increase in sales due to higher foot traffic. It is important to monitor the execution of this rollout and its impact on both companies' financials, particularly in relation to the return on investment and how it compares to industry benchmarks for similar infrastructural projects.

Sustainability Analyst

The partnership is indicative of a shift towards sustainability in business operations, reflecting a growing corporate responsibility towards environmental concerns. By facilitating the expansion of EV infrastructure, Allego and Burger King France are contributing to the reduction of carbon emissions, aligning with global efforts to combat climate change.

However, it's critical to consider the source of electricity for these charging stations. If the energy is derived from renewable sources, the environmental impact is significantly positive. Conversely, if the electricity comes from fossil fuels, the benefits are less clear-cut. The sustainability of this initiative depends on the broader energy mix in France and the companies' commitment to green energy use in their EV charging infrastructure.

• Allego and Burger King France are establishing an exclusive partnership following a call for tenders launched by the restaurant chain to install ultra-fast charging stations at locations throughout the country.
• The first sites are expected to be operational by Q3 2024.
• With a network of chargers spanning strategic locations at supermarkets, restaurants, cinemas, and shopping centers, Allego is positioned to be one of the largest destination charging providers across the French market.

ARNHEM, Netherlands--(BUSINESS WIRE)-- Allego N.V. (“Allego” or the “Company”) (NYSE: ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, and Burger King France, today announced the establishment of a long-term partnership to proliferate electric vehicle (EV) charging in France through the rollout of ultra-fast chargers across Burger King France drive-through and dine-in locations that are not in co-ownership.

Following Burger King France’s call for tenders, Allego has been chosen as the partner of choice to enable the installation of ultra-fast charging stations at existing and future Burger King France locations over the next three years; the deployment of charging stations will also depend on the agreement of the various landowners. The partnership has the potential to enable the deployment of a large number ultra-fast charge points across the restaurant’s locations in France. The first sites are expected to be operational by Q3 2024 and for easy recognition for the drivers, the chargers will be fitted with both Allego and Burger King branding.

This new partnership is expected to be a significant addition to Allego’s network in France where it currently operates a network of 190 ultra-fast charging locations. The Company is also rolling out a network of 4,000 charging points across 400 Carrefour hypermarket locations, Pathé cinemas, Klepierre shopping center and more throughout the country, which positions Allego to be one of the largest destination charging providers across the French market.

Mathieu Bonnet, Chief Executive Officer of Allego, said, “To meet the demand of the ever growing EV market in Europe, we must swiftly roll out high power chargers in locations that are most convenient for drivers. This sort of growth cannot be achieved alone, so we must work with like-minded partners to support the considerable change brought by e-mobility. Through this partnership, we can make charging more accessible and enjoyable so drivers can travel with ever greater ease. Allego is reinforcing its position as one of the leading ultra-fast charging networks in France.”

About Allego

Allego is a leading provider of electric vehicle charging solutions, dedicated to accelerating the transition to electric mobility with 100% renewable energy. Allego has developed a comprehensive portfolio of innovative charging infrastructure and proprietary software, including its Allamo and EV Cloud software platforms. With a network of over 35,000 charging points (and counting) spanning 16 countries, Allego delivers independent, reliable, and safe charging solutions, agnostic of vehicle model or network affiliation. Founded in 2013 and publicly listed on the NYSE in 2022, Allego now employs a team of 200 people striving every day to make charging accessible, sustainable, and enjoyable for all.

For more information, please visit www.allego.eu.

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are forward-looking statements. Allego intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. 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, without limitation, Allego’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. Most of these factors are outside Allego’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) changes adversely affecting Allego’s business, (ii) the price and availability of electricity and other energy sources, (iii) the risks associated with vulnerability to industry downturns and regional or national downturns, (iv) fluctuations in Allego’s revenue and operating results, (v) unfavorable conditions or further disruptions in the capital and credit markets, (vi) Allego’s ability to generate cash, service indebtedness and incur additional indebtedness, (vii) competition from existing and new competitors, (viii) the growth of the electric vehicle market, (ix) Allego’s ability to integrate any businesses it may acquire, (x) the agreement of various landowners to deployment of Allego charging stations, (xi) Allego’s ability to recruit and retain experienced personnel, (xii) risks related to legal proceedings or claims, including liability claims, (xiii) Allego’s dependence on third-party contractors to provide various services, (xiv) data security breaches or other network outage, (xv) Allego’s ability to obtain additional capital on commercially reasonable terms, (xvi) Allego’s ability to remediate its material weaknesses in internal control over financial reporting, (xvii) the impact of COVID-19, including COVID-19 related supply chain disruptions and expense increases, (xviii) general economic or political conditions, including the Russia/Ukraine and Israel/Hamas conflicts or increased trade restrictions between the United States, Russia, China and other countries, and (xix) other factors detailed under the section entitled “Risk Factors” in Allego’s filings with the Securities and Exchange Commission. The foregoing list of factors is not exclusive. 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 presently does not 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240227908488/en/

Investors

investors@allego.eu

Media

press@allego.eu

Source: Allego N.V.

FAQ

What is the partnership between Allego and Burger King France about?

Allego and Burger King France have partnered to install ultra-fast charging stations at Burger King locations across France.

When are the first sites expected to be operational?

The first sites are expected to be operational by Q3 2024.

Where will Allego install the ultra-fast charging stations?

Allego will install the ultra-fast charging stations at strategic locations such as supermarkets, restaurants, cinemas, and shopping centers.

How many ultra-fast charging locations does Allego currently operate in France?

Allego currently operates a network of 190 ultra-fast charging locations in France.

What other locations will Allego be installing charging points at in France?

Allego is rolling out a network of 4,000 charging points across Carrefour hypermarkets, Pathé cinemas, Klepierre shopping centers, and more in France.