Allego Holding B.V. (“Allego” or the “Company”), a leading
pan-European electric vehicle (“EV”) charging network, which
recently announced its proposed business combination with Spartan
Acquisition Corp. III (NYSE: SPAQ), today announced in conjunction
with Meridiam the closing of the first-of-its-kind special purpose
project finance vehicle for EV charging infrastructure (“AssetCo”).
AssetCo was formed to finance the development of more than 2,000
fast and ultra-fast EV charge points between over 200 charging
locations across France, in partnership with Carrefour, a leading
French retail operator (the “Network”).
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The Network is planned to be powered entirely by green energy
and will be installed across select sites within the Carrefour
hypermarket network in France by 2023. The new network supports and
aligns with the French government's overall goal of stimulating
electromobility within France, and contributes to the Minister of
Ecological Transition’s “Objective of 100,000 Chargers."
The Network is designed to meet various customer needs,
including:
- A "comfort" charging service that runs at 22 kW, which will be
free for the first hour for customers with a Carrefour loyalty
card,
- A fast and ultra-fast charging service ranging from 75 kW to
300 kW, which will allow EV cars to recharge in the short span of
15-45 minutes, and
- A free service dedicated to charging light electric vehicles
such as e-bicycles, kick e-scooters and electric mopeds.
The total investment from all parties for network development
amounts to approximately €138 million. Approximately €55 million of
the total will be financed by senior debt contributions from seven
leading European commercial banks – Santander Corporate &
Investment Banking, Arkéa Banque Entreprises et Institutionnels, La
Banque Postale, Crédit Agricole CIB, BRED Banque Populaire and BBVA
– which are committed to the transition to green energy and
sustainable mobility, while Société Générale acted as financial
advisor. Due to the project’s positive environmental impact, the
financing has obtained the Green Loan label.
Allego is a leading European electric vehicle charging company
founded in 2013 that was instrumental in developing the project.
Allego’s sophisticated proprietary network planning tool Allamo®
enabled AssetCo to secure attractive financing terms without
recourse. In addition to building the Network, Allego will also be
responsible for its operation and maintenance for over 12
years.
Thierry Déau, Chairman, CEO and Founder of Meridiam, said, "This
project aligns with our mission to enhance sustainability and is an
excellent example of the actionable initiatives that we are
implementing to support the energy transition in France. Our joint
commitment with Allego alongside Carrefour will allow us to execute
a massive deployment of charging stations for electric vehicles
throughout France and Europe.”
Mathieu Bonnet, CEO of Allego, said, “I am delighted that we
have been part of the development of this innovative financing with
the support of leading European investors. This is a testament to
our ability to develop projects on a large scale and validates our
technology, especially our network planning tool, Allamo®. We are
very excited to be rolling out this network with a fantastic retail
brand partner, Carrefour. The combination of shopping and charging
has proven to be extremely popular with EV drivers. We are seeing
this pattern in other parts of Europe as well, and we will continue
our active development in this market segment.”
About Meridiam
Meridiam was founded in 2005 by Thierry Déau, with the belief
that the alignment of interests between the public and private
sector can provide critical solutions to the collective needs of
communities. Meridiam is an independent investment Benefit
Corporation under French law and an asset manager. The firm
specializes in the development, financing, and long-term management
of sustainable public infrastructure in three core sectors:
sustainable mobility, critical public services, and innovative low
carbon solutions. With offices in Addis Ababa, Amman, Dakar,
Istanbul, New York, Luxembourg, Paris, Toronto, Vienna, Libreville,
and Johannesburg, Meridiam currently manages US$18 billion and more
than 100 projects to date. Meridiam is certified ISO 9001: 2015,
Advanced Sustainability Rating by VigeoEiris (Moody’s) and applies
a proprietary methodology in relation to ESG and impact based on
United Nations’ Sustainable Development Goals (SDGs).
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.
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
facilities at certain REWE Nord locations is delayed or does not
occur at all and (vi) 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.
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For Meridiam Antoine Lenoir a.lenoir@meridiam.com +33 6
07 50 75 85
For Allego Investors investors@allego.eu Media
allegoPR@icrinc.com
For Spartan Acquisition Corp. III Investors
info@spartanspacIII.com Media Communciations@apollo.com
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