Arnhem, Netherlands, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Allego and DIY store chain HORNBACH are joining forces to create 20 fast-charging hubs across the Netherlands. This will create at least 160 charging stations with charging speeds of up to 150 kW in the parking lots of the DIY stores. Both parties are responding to the growing demand for charging options, particularly as electric cars and commercial vehicles are rapidly gaining traction and grid congestion is hindering the development of new charging l ...

Core Insights - Allego N.V. is launching a Mobility Service Provider (MSP) platform to enhance the electric vehicle (EV) charging experience for European customers [1][2] - The partnership with Deftpower aims to create a seamless, customer-focused charging experience, improving convenience and transparency for users [2][3] - Allego's long-term vision includes making EV charging easy, reliable, and powered by renewable energy, catering to individuals, SMEs, and large fleets [3][4] Company Overview - Allego is a leading provider of electric vehicle charging infrastructure, operating over 35,000 charging points across more than 16 countries in Europe [5] - The company is committed to accelerating the transition to electric mobility using 100% renewable energy [5] - Allego's recent initiatives include the introduction of Plug & Charge (PnC) and a Summer Pass discount to enhance customer experience [2] Partner Overview - Deftpower, founded in 2020, specializes in scalable and cost-efficient MSP solutions, connecting charging networks, car manufacturers, and energy companies [6] - The company has over 40 MSP customers in ten countries and provides access to all major charging networks in Europe [6]

Core Insights - Allego N.V. has signed a framework agreement with Kempower to enhance its electric vehicle charging solutions across Europe, focusing on high-power charging capabilities [1][3] - The collaboration aims to introduce a new split system that offers flexibility and efficiency in charging solutions, catering to various installation needs [2][8] - The initial pilot sites for the new system are operational in the Netherlands, Belgium, and Sweden, with further expansions planned in Sweden and Denmark [3][4] Company Overview - Allego is a leading provider of electric vehicle charging infrastructure, operating over 35,000 charging points in more than 16 countries, emphasizing the use of 100% renewable energy [6] - The company is committed to making EV charging seamless and accessible, aligning with the growing demand for electric mobility [2][4] Partnership Details - The partnership with Kempower is expected to accelerate the transition to electric mobility by providing enhanced power, flexibility, and convenience for EV drivers [3][5] - Kempower's technology, combined with Allego's extensive network expertise, aims to deliver robust and reliable charging solutions, starting with key sites in Denmark [5][9] Technical Innovations - The split system architecture allows for flexible installation tailored to specific site requirements, optimizing energy efficiency and charging speeds [8] - The dynamic power modules are designed for intelligent power distribution, ensuring high performance and adaptability across diverse environments [8]

Company Overview - Allego N.V. is a leading provider of electric vehicle charging solutions, dedicated to accelerating the transition to electric mobility using 100% renewable energy [5] - The company operates a network of over 35,000 charging points across more than 16 countries in Europe, offering sustainable and reliable charging solutions to EV drivers [5] Leadership Appointment - Allego has appointed Holger Riemenschneider as the new Chief Technology Officer, bringing extensive experience in the e-mobility and automotive sectors [1][4] - Holger holds a degree in Mechatronic Engineering and an MBA, enhancing his qualifications for the role [2] Professional Background - Holger's career in e-mobility began at RWE, focusing on intelligent AC infrastructure, before moving to IONITY in 2021 to concentrate on DC infrastructure and IT systems [3] - He has over a decade of experience in technology leadership and large-scale international project execution, positioning him to advance Allego's technology strategy [4] Strategic Vision - The appointment of Holger is seen as a strategic move to reinforce Allego's commitment to innovation and sustainable growth in the electric mobility sector [1][4] - Allego's Executive Officer, Steven Salo, expressed optimism about the collaboration and innovation that Holger will bring to the company [4]

Core Insights - Allego N.V. has launched the Allego Summer Pass 2025, aimed at making summer travel more affordable for electric vehicle (EV) drivers with a 30% discount on local ad-hoc charging prices [1][6]. Group 1: Allego Summer Pass 2025 Details - The Allego Summer Pass 2025 is valid from June 24 to September 30, providing access to over 5,000 fast and ultra-fast charging points across Europe, including France, Germany, the Nordics, and Benelux [2]. - The subscription offers a transparent monthly fee structure with no hidden costs, priced at €11.99 for eligible Eurozone countries, 49 PLN for Poland, 89 DKK for Denmark, 129 SEK for Sweden, and £9.99 for the United Kingdom [3]. Group 2: Benefits and Features - Subscribers can enjoy seamless charging access without the need for apps or special devices, as they can use their browser for instant access to charging [2][4]. - The charging network supports ultra-fast speeds of up to 400kW, minimizing downtime for users [6]. - The subscription allows users to track their charging sessions and savings through their account [7]. Group 3: Company Overview - Allego is a leading provider of electric vehicle charging infrastructure, committed to accelerating the transition to electric mobility using 100% renewable energy [5]. - The company operates a network of over 35,000 charging points across more than 16 countries, offering reliable and safe charging solutions for all EV drivers [5].

Core Points - Allego has launched the world's most secure Plug & Charge technology based on the OCPP 2.0.1 protocol, marking a significant advancement in electric vehicle charging solutions [1][5] - The new technology simplifies the charging process by allowing drivers to charge their vehicles without the need for apps, RFID cards, or manual interventions, enhancing user convenience [2][4] - Allego's network includes over 5,000 Fast and Ultra-fast charging points across Europe, supporting a seamless charging experience for all compatible electric vehicle models [2][7] Technology Overview - Plug & Charge utilizes ISO 15118-based authentication and payment methods, ensuring secure communication between the vehicle and charger [2][3] - The technology employs Mutual Transport Layer Security (TLS) and certificate-based authentication to protect against unauthorized access and billing errors [4][7] - OCPP 2.0.1 allows for future-proofing through remote firmware updates and secure certificate management, ensuring compatibility with new vehicle models and charging technologies [5] Company Positioning - Allego is positioned as a leader in the e-mobility industry, committed to accelerating the transition to electric mobility using 100% renewable energy [7][8] - The rollout of Plug & Charge technology is part of Allego's ongoing efforts to innovate and enhance the electric vehicle charging experience, collaborating with industry leaders such as Alpitronic, Hubject, and Ford [5][6]

Financial Performance - Allego reported a net loss of €110.3 million for the year ended December 31, 2023, and €44.6 million for 2024, with total negative equity of approximately €97.9 million as of December 31, 2024[49]. - Revenue increased from €145.5 million in 2023 to €190.1 million in 2024, indicating significant growth[50]. - The company anticipates continued operating losses in the near term, with profitability dependent on the adoption rate of electric vehicles in Europe[49]. - Allego has incurred significant net losses since inception and is expected to continue incurring losses in the foreseeable future[153]. - Allego's financial condition and results of operations are likely to fluctuate in future periods, which could cause results to fall below expectations[143]. - Allego's effective income tax rate could be adversely affected by changes in tax laws, valuation of deferred tax assets, and outcomes of tax audits[146]. - Allego's tax obligations may become more complex and subject to greater risk of examination as it expands operations into jurisdictions with less favorable tax laws[150]. Market and Growth Potential - Allego's future revenue growth will depend on increasing the number and size of its charging sites and traffic, as well as expanding its customer base[62]. - Allego's future growth is highly dependent on the rapid adoption of electric vehicles (EVs) by consumers, with the market for EVs characterized by rapidly changing technologies and competitive pricing[92]. - The European EV market benefits from government incentives such as rebates and tax credits, which significantly lower the effective price of EVs and charging stations[96]. - Allego's future growth relies on the successful rollout of public charging sites with ultra-fast charging capabilities, which is crucial for profitability[127]. - Allego's growth strategy includes expanding its public charging network and developing complementary services to increase traffic and secure long-term B2B relationships[228][231]. Operational Challenges - Allego faces risks related to the price of electricity, which could impact profitability and growth due to potential fluctuations and global increases in electricity prices[54]. - Allego's operational growth may strain employee retention and management, necessitating improvements in operational and financial controls[50]. - Allego's business is vulnerable to adverse macroeconomic conditions, which could negatively affect demand for its charging network and services[68]. - Allego's business is significantly impacted by macroeconomic conditions, including inflation and interest rate fluctuations, which could lead to reduced demand for EV infrastructure[69]. - Allego's operations are subject to risks associated with construction delays and cost overruns, which could impact revenue recognition and customer relationships[79]. - Allego's reliance on a limited number of suppliers for hardware and equipment increases risks related to supply chain disruptions and manufacturing issues[73]. - Increased demand for charging stations may not be met if Allego cannot find suitable suppliers or manufacturers, potentially hindering growth[74]. - Allego's operations depend on reliable telecom networks, and disruptions in these networks could lead to reduced demand for its charging stations and services[110]. Competition and Market Position - The EV charging market is competitive, with Allego facing challenges from various competitors, including utilities and automotive manufacturers[58]. - Allego's ability to raise additional funds may be limited due to its recent filing to terminate the registration of its shares under the Exchange Act, impacting future capital raising efforts[66]. - Allego's strategic partnerships may not materialize into long-term contracts, which could limit its ability to develop new arrangements with other partners[90]. - Allego competes with localized providers of EV charging station networks and aims to provide seamless end-to-end solutions[240][241]. Technology and Innovation - Allego's ability to develop new innovations in its software platform and keep up with hardware technologies is crucial for market adoption and financial results[97]. - Allego's proprietary software, Allamo, analyzes over 100 factors to forecast EV charging demand and optimize site selection for higher utilization rates[205]. - Allego's charging solutions are designed to be hardware agnostic, allowing flexibility in selecting optimal equipment and reducing procurement costs[213][234]. - Allego's software platform may contain defects or errors that could lead to inadequate performance and service disruptions, adversely affecting its business[118]. - Allego's technology may have undetected defects that could reduce market adoption and expose the company to product liability claims[116]. Regulatory and Compliance Risks - Allego faces risks related to compliance with privacy laws and regulations, which could limit service offerings and increase costs[162]. - The GDPR imposes penalties for non-compliance of up to €20 million or 4% of worldwide revenue, impacting Allego's business operations[164]. - Allego's reliance on third parties for compliance with environmental laws may expose the company to liabilities and increased costs[172]. - Increasing attention to ESG matters may adversely impact Allego's business and access to capital[175]. - Allego is currently assessing the impact of new ESG-related regulations, which may lead to increased compliance costs[176]. Internal Controls and Governance - Allego has identified material weaknesses in its internal control over financial reporting, which could result in material misstatements if not remediated[156]. - Allego made significant improvements in internal control over financial reporting, resolving certain previously reported Material Weaknesses[157]. - As of December 31, 2024, Allego identified one material weakness in its internal control over financial reporting, which could lead to material misstatements[158]. - Allego's management noted deficiencies in maintaining initiation controls and accuracy of reports used in the financial statement close process[159]. - The company plans to remediate the remaining material weakness throughout 2025, which may be time-consuming and resource-intensive[161]. - The company does not comply with all best practice provisions of the Dutch Corporate Governance Code, potentially affecting shareholder rights[177]. Employee and Organizational Structure - As of December 31, 2024, Allego had 292 employees, with 257 being regular full-time employees[243]. - Allego's research and development expenses were €5.3 million in 2024, €4.6 million in 2023, and €4.0 million in 2022, indicating a consistent investment in innovation[125]. - Allego's research and development team consisted of more than 8 full-time employees[236]. - The company plans to continue expanding its development team, which is essential for increasing revenue through new customer contracts[130]. Infrastructure and Operations - Allego operates more than 33,500 charging ports across over 13,600 locations in 16 countries, a decrease of more than 1,500 ports since December 31, 2023[202]. - The number of Allego's own charging ports increased from 25,600 to 26,780, reflecting a strategic shift towards prioritizing its own infrastructure[202]. - Allego's charging network includes fast, ultra-fast, and slow charging equipment, with energy sourced from renewable sources[204]. - Allego's facilities include rented locations in Belgium, Germany, Sweden, Austria, France, Denmark, and sales offices in England and Poland[242]. - The company designs the layout and specifications of its charging stations in-house, ensuring control over its product offerings[239].

Core Insights - Ascencio and Allego have formed a partnership to install 212 electric vehicle charging points across 45 sites in Belgium, enhancing Ascencio's ESG strategy and addressing local community needs [1][3] - The charging stations will feature super chargers with a power rating of up to 400 kW, allowing for quick charging in 15 to 30 minutes, thereby improving customer experience [2] - The partnership is cost-effective for Ascencio, requiring no investment from the company while adding value to its real estate portfolio [2] Company Strategies - Ascencio aims to achieve carbon neutrality in ground transportation through this partnership, making its commercial sites more attractive to customers and local residents [3] - Allego, as a leading charge point operator, has a significant presence in Belgium and Europe, leveraging partnerships with landowners like Ascencio to expand its charging network [4] Market Demand - The installation of charging points responds to the increasing demand for charging zones in strategic locations frequented by consumers, enhancing accessibility for both shoppers and passing motorists [2][4] - Retail locations on the outskirts of urban areas are identified as strategic for both drivers and retailers, facilitating increased foot traffic and shopping opportunities [4]

Core Viewpoint - Allego (NYSE: ALLG) is under investigation by Ademi LLP for potential legal violations related to its transaction with majority shareholder Meridiam, particularly concerning the tender offer and the board's conduct [1][2]. Group 1: Transaction Details - Allego shareholders will receive $1.70 in cash for each outstanding share of Allego common stock prior to the closing of the tender offer [2]. - Shareholders who do not tender their shares will remain investors in Allego after it is delisted, with Meridiam providing liquidity opportunities post-delisting [2]. - Meridiam has committed to organizing liquidity events for shareholders within 18 months after the delisting and again before December 31, 2027 [2]. Group 2: Board Conduct Investigation - The investigation focuses on whether Allego's board of directors is fulfilling their duties to all shareholders and conducting the tender offer appropriately [2]. - Allego insiders are expected to receive substantial benefits as part of the change of control arrangements [2].

Group 1 - Allego has confirmed a deal with Meridiam to acquire all outstanding shares of its stock for $1.70 each, representing a 131% premium over the previous closing price of 74 cents per share [1] - Following the tender offer, Allego will delist its shares from the New York Stock Exchange, and investors who do not tender their shares will remain investors in the delisted company [1] - Meridiam's director, Emmanuel Rotat, expressed confidence that operating as a private entity with Meridiam as the majority shareholder will position Allego for its next phase of growth [1] Group 2 - The tender offer from Meridiam is expected to close in the third quarter of the year, with no minimum shareholder or regulatory approval required [2] - As of Monday morning, ALLG stock has increased by 127.9%, with approximately 7.6 million shares traded, significantly higher than the daily average trading volume of about 447,000 shares [2]