Allego (NYSE: ALLG), a leading pan-European electric vehicle network, announces the grant of a €20 million loan from the European Bank for Reconstruction and Development (EBRD) as part of the CROSS-E project co-funded by the European Union. This financial support will support Allego’s strong development of EV-charging infrastructure inside Poland as part of the company’s ongoing Eastern European expansion project.
Electric vehicle adoption in Poland, which ranks among the lowest in Europe in terms of EV charging penetration, can only be fostered through a robust and fully functional EV charging infrastructure. This initiative promotes the broad availability of efficient and dependable electric mobility throughout the continent as part of the European Union’s efforts to decarbonize road transportation.
Allego is set to deploy more than 200 light and heavy-duty vehicles (LDV /HDV) EV recharging points across over 50 strategic locations in Poland. This effort will include installing and integrating these recharging points into the existing Allego network. Additionally, Allego will provide comprehensive maintenance and operational support for these facilities, enhancing the user experience with smart charging and efficient billing systems. The project in Poland is co-funded by the EU’s Connecting Europe Facility (CEF) program, supporting European transport infrastructure projects along the TEN-T Network and in Urban Nodes.
Gunnar Landfester, Allego Managing Director for Central & Eastern Europe, says, “This financial support will improve greater EV adoption in Europe, specifically in Eastern Europe. Thanks to this, we can expand our network and further our goal of creating highly efficient charging for all EV drivers.”
Vianney Heeren, Director of Structured Finance at Allego, commented, “With this financing, we can go forward with our infrastructure initiatives much more quickly, guaranteeing that Allego will support Poland’s quick transition to electric vehicles. It demonstrates our business strategy’s capacity to expand operations successfully throughout Europe.”
This initiative further demonstrates Allego’s dedication to electric mobility innovation and its role in facilitating Europe’s green transformation.
