Welcome to our dedicated page for Allego N.V. news (Ticker: ALLG), a resource for investors and traders seeking the latest updates and insights on Allego N.V. stock.
Allego N.V. (NYSE: ALLG) is a prominent provider of electric vehicle charging solutions, passionately committed to accelerating the global transition to electric mobility using 100% renewable energy. Established in 2013 and publicly listed on the NYSE in 2022, Allego has developed an expansive portfolio of innovative charging infrastructure and proprietary software platforms, including Allamo and EV Cloud. With an extensive network of over 35,000 charging points across 16 countries, Allego delivers reliable and safe charging solutions, independent of vehicle model or network affiliation.
Allego's latest achievements include a significant 28.2% increase in revenue during the third quarter of 2023, reaching €28.6 million. Charging revenue saw a substantial 53% rise to €22.0 million, driven by increased utilization rates and premium pricing on ultra-fast chargers. The company's gross profit turned positive, increasing to €5.4 million, showcasing improved operational efficiencies.
In recent developments, Allego has signed two major power purchase agreements (PPAs) with Energy Solutions Group, securing 100 GWh per year from solar and wind farms expected to be operational by 2024 and 2025, respectively. The company also achieved a milestone of over one million sessions per month across its network in October 2023. Additionally, Allego is expanding its ultra-fast charging infrastructure in partnership with notable entities like Go’on Gruppen and Burger King France.
Allego remains at the forefront of the electric mobility revolution, continually enhancing its network and technology to meet the growing demand for EV charging. With a steadfast focus on sustainability and customer satisfaction, Allego is positioned to be a key player in the EV market for years to come.
Allego and Enedis have successfully deployed 107 public EV charging hubs across
Allego has launched its first ultra-fast EV-charging hub at Stadium MK in Milton Keynes, UK. The hub features 3 dual-socket 300kW chargers, allowing 6 ultra-fast charge points. This state-of-the-art facility will cater to local residents, visitors, and passing traffic, providing fast charging in just 10-15 minutes. Allego plans to expand its EV-charging network significantly across the UK and Ireland, responding to the growing electric vehicle market, which saw EV sales surpass diesel vehicles in 2022. The charging hub also emphasizes accessibility with features for wheelchair users.
Allego (NYSE:ALLG) is set to establish 32 public fast charging stations for electric vehicles across Sweden in partnership with Trophi. The first stations will become operational in September 2023. This initiative aims to enhance the EV charging infrastructure at strategic locations, including hypermarkets and city grocery stores, benefitting EV users. Allego continues to lead the charge in Europe with nearly 40,000 public charge points across 16 countries, promoting convenient EV charging solutions. This collaboration marks a significant step for both companies in supporting the transition to sustainable energy.
Allego (NYSE:ALLG) has partnered with VINCI Autoroutes to open four new ultra-fast EV charging hubs in France. Located in Brouzils, Chavagnes, Rouillé Pamproux, and Toulouse Sud Nord, these hubs are equipped with 16 chargers offering up to 300 kW, allowing EVs to recharge 300 km in just 10 to 15 minutes. The initiative aims to enhance the electric mobility infrastructure, with a goal of equipping 100% of VINCI's service areas by the end of 2023. Allego also accepts over 280 payment methods, ensuring accessibility for all EV drivers. This move reflects both companies' commitment to low-carbon mobility and expanding electric vehicle services across Europe.
Allego N.V. (NYSE: ALLG), a premier European electric vehicle charging network, announced participation in the Citi 2023 Global Industrial Tech and Mobility Conference in Miami, FL, from February 21-23, 2023. The management team will engage in a fireside chat on February 23, 2023, at 2:40 PM ET, which will be webcast live. Allego operates nearly 40,000 public charging points across 16 European countries and is dedicated to providing independent and reliable charging solutions, utilizing 100% renewable energy. This commitment enabled over 260 million green miles in 2021, showcasing its leadership in the EV charging sector.
Allego N.V. (NYSE: ALLG), a leader in Europe's electric vehicle charging network, has increased its credit facility by €230 million, reaching a total of €400 million. This facility, expiring in December 2027, will finance green investments compliant with Green Loan Principles. Allego has significantly raised its backlog of signed contracts to 1,270 premium sites, translating to approximately 8,400 ultrafast charging ports. CFO Ton Louwers stated that this milestone strengthens Allego's growth strategy to enhance Europe's EV charging infrastructure.
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