Allego Partners with Fueling Company Go’on to Make Electric Charging More Accessible for Drivers in Denmark; 168 Charging Ports are Confirmed with Exclusive Access to Go’on’s 185 Locations Throughout the Country

Rhea-AI Summary

Allego partners with Go'on to install 168 fast charging ports at fueling stations in Denmark

Positive

• Allego will install 168 fast charging ports with exclusive access to all 185 of Go'on's existing stations in Denmark
• Partnership aims to provide EV drivers with convenient charging options in regions with limited charging infrastructure
• Collaboration helps alleviate 'range anxiety' and accelerate the transition to electric mobility

Negative

• None.

• The first seven stations are expected to be commissioned between Q4 2023 and Q2 2024, and 60 additional stations are planned through Q4 2024
• 48 fast and ultra-fast charging ports are currently slated for the first batch and 120 fast and ultra-fast charging ports will be installed in the second batch
• Allego will have exclusive access to all of Go’on’s stations throughout the country to expand its ultra-fast charging network

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, today announced its partnership with Go’on Gruppen A/S (“Go’on”), one of Denmark’s largest fueling companies, under which Allego will install 168 fast charging ports with exclusive access to all 185 of Go’on’s currently existing stations across the country. Allego views this partnership as another step in the strategic growth and optimization of its network and charging availability for electric vehicle (“EV”) drivers.

Go’on has positioned its fueling stations in smaller cities throughout Denmark where gasoline fueling stations are less ubiquitous and electric charging infrastructure is limited or even non-existent. Consequently, in these regions, EV drivers may need to drive long distances or plan their routes around charger availability. Allego strives to make charging accessible for all EV drivers to ensure the successful transition to e-mobility. Through this partnership, Allego and Go’on aims to provide EV drivers with the same convenience that they would have as if driving a combustion engine.

Mick Kjær, CEO of Go’on said, “Today, there is a clear challenge for EV drivers who live or visit outlying areas in Denmark in terms of finding a charging station. Therefore, we are delighted with the new collaboration. Together with Allego, we can accelerate the spread of Allego's advanced fast charging solutions by establishing them at Go'on stations across the country."

Steven Lau, Allego’s Nordic region Managing Director says, "The collaboration with Go'on marks an important step towards promoting electric mobility in Denmark. Together, we will build on Allego’s solid charging network and give EV owners in Denmark access to our latest and most reliable charging solutions. As the industry transitions to electric, drivers of all vehicle types still require amenities for powering their cars. Therefore, it makes perfect sense to accommodate options for electricity, gasoline, and diesel in one place. Go'on has a far-reaching network, and by collaborating with Allego on the installation of fast and ultra-fast charging solutions at their gas stations, Go'on is demonstrating its dedication to meeting the growing demand for charging infrastructure and supporting sustainable transportation in Denmark."

So called “range anxiety” is one of the primary hesitations for drivers to switch to electric vehicles, making charging infrastructure a cornerstone for EV adoption. Accordingly, partnerships such as this one provide the perfect opportunity for Allego to expand its footprint and help accelerate the transition to electric mobility.

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 almost 35,000 charging ports (and counting) spanning 15 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 220 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) Allego’s ability to recruit and retain experienced personnel, (xi) risks related to legal proceedings or claims, including liability claims, (xii) Allego’s dependence on third-party contractors to provide various services, (xiii) data security breaches or other network outage, (xiv) Allego’s ability to obtain additional capital on commercially reasonable terms, (xv) Allego’s ability to remediate its material weaknesses in internal control over financial reporting, (xvi) the impact of COVID-19, including COVID-19 related supply chain disruptions and expense increases, (xvii) general economic or political conditions, including the Russia/Ukraine conflict or increased trade restrictions between the United States, Russia, China and other countries, and (xviii) 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/20231020954047/en/

Allego contacts:



Investors

investors@allego.eu



Media

allegoPR@icrinc.com

Source: Allego N.V.

FAQ

What is the partnership between Allego and Go'on about?

Allego is partnering with Go'on to install 168 fast charging ports at Go'on's existing fueling stations in Denmark.

What is the goal of the partnership?

The goal is to provide EV drivers with convenient charging options in regions with limited charging infrastructure.

How many charging ports will be installed?

A total of 168 fast charging ports will be installed across Go'on's 185 existing stations.

What problem does this partnership aim to solve?

The partnership aims to alleviate 'range anxiety' and accelerate the transition to electric mobility by expanding the charging infrastructure.

When will the first batch of stations be commissioned?

The first seven stations are expected to be commissioned between Q4 2023 and Q2 2024.