Apollo Power Secures Entry Into U.S. Gas Station Market With Strategic Deal Estimated at $53 Million
The Israeli energy company will partner with Arko Corp. in an estimated $53 million deal
Apollo Power is expanding its footprint in the United States through a strategic collaboration with GPM, a U.S. based company wholly owned by Arko Corp., a Nasdaq listed Fortune 500 company and one of the largest operators of gas stations and convenience stores in the United States.
The collaboration will focus on evaluating, developing and deploying solar solutions at GPM sites across the country. In the initial phase, feasibility studies are expected to be conducted at no fewer than 300 locations. The initiative is designed to assess the applicability of Apollo Power’s solar technology across large scale commercial properties in the U.S. market.
The agreement is expected to provide Apollo Power with a meaningful entry point into the U.S. gas station sector, a market comprising tens of thousands of sites nationwide. The ARKO network alone operates more than 3,500 gas stations and convenience stores across approximately 30 states and is considered one of the most established and influential players in the industry.
In recent years, Apollo Power has been working to deepen its presence in the U.S. market. The company focuses on proprietary solutions for lightweight roofs and commercial structures, enabling solar energy generation in locations where conventional solar panels cannot be installed. This capability has positioned the company to address previously inaccessible segments within the solar energy market.
Apollo Power CEO Oded Rosenberg said the collaboration with GPM aligns with the company’s broader strategy to strengthen its U.S. operations. According to Rosenberg, working with a large scale retail network allows Apollo Power to leverage its technological advantage and convert underutilized lightweight roofs into income generating assets producing clean energy. He added that the scope of the feasibility studies and the underlying economic potential support expectations that the collaboration could create significant value for both parties over the medium and long term.
The partnership with ARKO follows a series of strategic initiatives undertaken by Apollo Power as part of its expansion in Israel and international markets. Among these, the company has advanced an expanded collaboration with the Volkswagen Group, renewing engagements totaling approximately €14.5 million. In addition, Apollo Power has signed a distribution agreement with ZF for aftermarket solutions in the European truck and bus market, as well as an exclusivity agreement with Volta Solar for the marketing of lightweight and flexible solar panels for residential installations in Israel.
