HAllego Holding B.V., a leading pan-European electric vehicle charging network that announced a business combination with Spartan Acquisition Corp. III (“Spartan”) (NYSE: SPAQ), is providing an operational update for the two months ended February 28, 2022. The Company previously offered a business update for the year ended December 31, 2021, on February 7, 2022, providing an update on recent strategic milestones and meeting or exceeding 2021 expectations.
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Selected Operational Highlights for January and February 2022
- Allego’s network delivered an average of 10.25GWh per month clean 100% renewable energy to EV drivers in the first two months of 2022, double the level from the comparable prior year two-month period.
- Total charging sessions in the two-month period ended February 28, 2022 increased 83% from the prior-year period to 1,345,000, as the Company’s proprietary Allamo and EV Cloud platforms position Allego for continued growth. The average number of public charging ports rose 24% compared to the same period in 2021.
- Utilization rate1, a key performance metric, remains strong with the average two-month utilization rate increasing to 7.6% from 4.3% in the prior-year period, and in line with December’s forecast, despite the effects of seasonality and a 17% price increase implemented on January 1, 2022. The utilization trends remain resilient in March, even with the escalation of geopolitical events. The strong performance is due to accelerating EV adoption in Europe, far exceeding sales in the U.S., and increasing reliance on public charging infrastructure.
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- Total unique users on Allego’s network reached nearly 730,000 at the end of February 2022, increasing 63% year-over-year and almost 10% from year-end 2021. Allego’s network continued to have an approximate 80% recurring rate per month, as the Company benefits from its leading presence across 14 countries and more than 28,000 charging ports.
Mathieu Bonnet, CEO of Allego, commented, “I am pleased with the Company’s operating performance through the first two months of this year as we continue to execute in line with our expectations. Our use of 100% renewable energy, combined with the strong visibility of our secured backlog, positions us well for the balance of 2022. More importantly, as economies diversify their energy sources and EV penetration increases, we are well-positioned to capitalize on our existing scale and blue-chip partnerships.”
The Company is providing this special operational update leading up to the close of its business combination before establishing a more traditional quarterly reporting cadence.
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