Allego Enters into Strategic Partnership with Nissan

Rhea-AI Summary

Allego Holding B.V. has announced a strategic partnership with Nissan to enhance Europe's electric vehicle charging infrastructure. This collaboration will cover 16 countries and over 600 locations, focused on installing and maintaining DC fast charging solutions with capacities of 50kW and 24kW. With the aim to support Nissan's electric mobility initiatives, this partnership solidifies Allego's position in the European charging market. The deal includes comprehensive services for charging point operations and maintenance at Nissan locations, contributing to the expansion of sustainable transport solutions.

Positive

• Strategic partnership with Nissan to enhance EV charging infrastructure.
• Coverage in 16 countries and over 600 locations demonstrates significant market reach.
• Long-term commitment to install and maintain fast charging solutions supports growth in the EV market.

Negative

• Risks associated with the timely installation of charging solutions.
• Potential delays in realizing the benefits of the Nissan partnership.

Allego to Strengthen and Expand Nissan and Europe’s Electric Vehicle Charging Networks

PARIS & ARNHEM, the Netherlands & NEW YORK--(BUSINESS WIRE)-- Allego Holding B.V. (“Allego” or “the “Company”), a leading pan-European electric vehicle charging network that recently announced a business combination with Spartan Acquisition Corp. III (“Spartan”) (NYSE: SPAQ), today announced a strategic partnership with Nissan, a leading global vehicle manufacturer responsible for developing, manufacturing, distributing, and selling motor vehicles, including electric vehicles ("EVs"), as well as their related parts and components under the NISSAN trade mark worldwide.

Allego enters into strategic partnership with Nissan in 16 countries and across more than 600 locations to install, operate, and maintain DC fast charging solutions. (Photo: Business Wire)

Allego will enter into a long-term partnership with Nissan in 16 countries and across more than 600 locations to install, operate, and maintain DC fast charging solutions of 50kW and 24kW. Charging locations span across the European continent, including Belgium, The Netherlands, Luxembourg, Norway, Sweden, Finland, Denmark, France, Italy, Spain, Portugal, Switzerland, Austria, Estonia, Lithuania, and Latvia.

“We are thrilled to partner with Nissan to enhance Europe’s existing network of electric charging ports,” commented Mathieu Bonnet, CEO of Allego. “Allego’s partnership with a pioneering auto manufacturer in electric mobility like Nissan is a testament to our leadership position in the European EV charging market and demonstrates that electrification is no longer an abstract concept, but a long-term solution to one the most pressing issues our world faces: climate change.”

“Since launching the world’s first mass-market electric vehicle in 2010, the LEAF, Nissan has continuously strived to make the benefits of electric mobility accessible to drivers every day,” said Jean-Philippe Roux, Deputy Vice President, Network Development & Customer Quality, Nissan AMIEO. The project will fall under the Nissan brand “Electrify the World,” part of Nissan’s ongoing efforts to invest in the development of a quick charging network in Europe. This investment will focus primarily on expanding and developing Nissan’s existing charging network situated at company premises and those of its dealers, repairers and partners.

The deal provides for scope of supply CPO services for Allego, DC charging hardware at Nissan dealer charging networks, and five-year service and maintenance contracts for each charger.

“As we push forwards into a new chapter for Nissan’s all-electric vehicle line-up with the innovative Ariya coupe crossover and versatile, fully electric Townstar light commercial vehicle, our comprehensive charging infrastructure expansion plan in partnership with Allego is further evidence of our continued commitment to electric mobility,” continued Jean-Philippe Roux.

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.

About Spartan Acquisition Corp. III
Spartan Acquisition Corp. III is a special purpose acquisition entity focused on the energy value-chain and was formed for the purpose of entering into a merger, amalgamation, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Spartan is sponsored by Spartan Acquisition Sponsor III LLC, which is owned by a private investment fund managed by an affiliate of Apollo Global Management, Inc. (NYSE: APO). For more information, please visit www.spartanspaciii.com.

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 solutions at Nissan locations is delayed or does not occur at all; (vi) the risk that the benefits to Allego of the Nissan partnership are delayed, are less than anticipated or do not occur at all; and (vii) 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211202005168/en/

For Allego

Investors

investors@allego.eu

Media

allegoPR@icrinc.com

For Spartan Acquisition Corp. III

Investors

info@spartanspacIII.com

Media

Communications@apollo.com

Source: Allego Holding B.V.

FAQ

What is the significance of Allego's partnership with Nissan?

Allego's partnership with Nissan aims to enhance Europe's EV charging infrastructure across 16 countries and over 600 locations, promoting electric mobility.

How will this partnership affect Allego's stock performance?

Partnerships that expand Allego's market presence may positively influence investor sentiment and stock performance, but risks remain regarding implementation timelines.

What are the potential risks associated with the Allego-Nissan partnership?

Risks include possible delays in installation and realization of benefits, which could impact Allego's business strategy.

Why is the installation of DC fast charging solutions important?

Installing DC fast charging solutions is crucial for supporting the growing demand for electric vehicles and enhancing the charging infrastructure across Europe.

How does this partnership align with Nissan's goals?

This partnership aligns with Nissan's commitment to electric mobility and supports their initiative 'Electrify the World' by expanding charging networks.