ARKO Corp. and Apollo Power Enter Strategic Partnership in the U.S. to Deploy Solar Systems Across ARKO’s Network Sites

Rhea-AI Summary

ARKO Corp. (Nasdaq: ARKO) and Apollo Power signed a non-binding MOU on Nov 17, 2025 to evaluate deployment of Apollo’s flexible solar systems at no fewer than 300 ARKO/GPM sites across the U.S., with exclusivity for Apollo during a 60-day period to finalize binding agreements. The multi-year turnkey program (EPC: design, engineering, installation, grid connection) carries an estimated cumulative value of approximately $53 million. ARKO’s network serves or supplies fuel to more than 3,500 stations in 30+ states.

Positive

• 300 sites committed for evaluation under MOU
• Estimated $53 million cumulative project value
• Turnkey EPC scope includes design-to-grid connection
• Access to 3,500+ station network across 30+ states

Negative

• Agreement is a non-binding MOU, not a contract
• Exclusivity period limited to 60 days to finalize deals
• Project timeline spans several years, delaying revenue recognition

Insights

Energy Partnerships Analyst

Non‑binding MOU for a ~$53 million multi‑site solar rollout is a constructive commercial step but remains conditional.

GPM/ARKO and Apollo Power agreed to an exclusive development period and aim to finalize binding agreements within 60 days. The plan covers deployment at no fewer than 300 sites with full EPC scope and an estimated cumulative value near $53 million, spread over few years. That structure converts Apollo’s technology and factory readiness into a clearly defined commercial opportunity tied to ARKO’s 3,500+ site network.

Primary dependencies include executing the binding contracts, site‑by‑site feasibility, and successful EPC delivery across multiple states. The announcement is supportive for Apollo’s U.S. entry and for ARKO’s operating economics, but the non‑binding nature and multi‑year roll‑out mean material upside is not yet realized. Monitor the 60 days milestone for signed agreements, early pilot site performance, and the first tranche of contracted sites as near‑term readouts.

RICHMOND, Va., Nov. 17, 2025 (GLOBE NEWSWIRE) -- GPM Investments, LLC (GPM), a U.S.-based company wholly owned by ARKO Corp. (Nasdaq: ARKO), one of the largest operators and distributors in the gas station and convenience store sector in the United States, and a Fortune 500 company, announced today the signing of a non-binding Memorandum of Understanding (MOU) with Apollo Power.

The parties expect to finalize binding agreements within 60 days. During this period, Apollo has been granted exclusivity for developing solar projects at designated sites. Under the agreements, GPM will evaluate the deployment of Apollo Power’s flexible solar energy solutions at no fewer than 300 sites across the U.S. This large-scale turnkey project would include engineering, procurement, and construction (EPC) services - design, engineering, installation, and grid connection - with an estimated cumulative value of approximately $53 million, expected to span roughly a few years.

This initiative marks a significant entry for Apollo Power into the vast U.S. gas station market, in collaboration with a major player with extensive reach. The ARKO network operates or distributes fuel to more than 3,500 gas stations and convenience stores and fleet fueling locations, with strong geographic coverage in more than 30 U.S. states.

The MOU represents a major milestone for Apollo Power, reinforcing its position as a leading technology player in the global renewable energy arena. The partnership with ARKO is expected to serve as a strategic springboard for further expansion in the U.S. market, which holds tremendous potential for adopting innovative solar solutions.

Oded Rozenberg, CEO of Apollo Power: “Today marks a significant milestone for Apollo Power. Our entry into the U.S. gas station market, together with a local strong partner operating thousands of stations across the country, clearly demonstrates our unique technological advantage - the ability to generate solar energy even from rooftops that cannot support traditional panels. This capability enables gas station operators to turn their real estate into an additional revenue stream by producing and selling solar electricity. The market is vast, our product is ready, and our factory is ready. We thank ARKO for their trust and for the months of preparation we have done together - and today, we begin.”

Arie Kotler, CEO of ARKO: “Apollo Power’s technology gives us an opportunity to reduce electricity expenses at many of our locations and enhance the overall performance of our assets. This collaboration is about making our properties stronger, more efficient, and better positioned for the future.”

About ARKO Corp.

ARKO Corp. (Nasdaq: ARKO) is a Fortune 500 company that owns 100% of GPM Investments, LLC and is one of the largest operators of convenience stores and wholesalers of fuel in the United States. Based in Richmond, VA, our highly recognizable Family of Community Brands offers delicious, prepared foods, beer, snacks, candy, hot and cold beverages, and multiple popular quick serve restaurant brands. We operate in four reportable segments: retail, which includes convenience stores selling merchandise and fuel products to retail customers; wholesale, which supplies fuel to independent dealers and consignment agents; fleet fueling, which includes the operation of proprietary and third-party cardlock locations, and issuance of proprietary fuel cards that provide customers access to a nationwide network of fueling sites; and GPM Petroleum, which sells and supplies fuel to our retail and wholesale sites and charges a fixed fee, primarily to our fleet fueling sites. To learn more about GPM stores, visit: www.gpminvestments.com. To learn more about ARKO, visit: www.arkocorp.com.

Forward-Looking Statements

This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, the Company’s expected financial and operational results and the related assumptions underlying its expected results. These forward-looking statements are distinguished by use of words such as “accretive,” “anticipate,” “aim,” “believe,” “continue,” “could,” “estimate,” “expect,” “guidance,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and the negative of these terms, and similar references to future periods. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to, among other things, changes in economic, business and market conditions; the Company’s ability to maintain the listing of its common stock and warrants on the Nasdaq Stock Market; changes in its strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; expansion plans and opportunities; changes in the markets in which it competes; changes in applicable laws or regulations, including those relating to environmental matters; market conditions and global and economic factors beyond its control; the success of the Company's transformation plan, including the dealerization of retail stores; and the outcome of any known or unknown litigation and regulatory proceedings.

Detailed information about these factors and additional important factors can be found in the documents that the Company files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date the statements were made. The Company does not undertake an obligation to update forward-looking information, except to the extent required by applicable law.

ARKO Corp. Media Contact
Jordan Mann ARKO Corp.
investors@gpminvestments.com

ARKO Corp. Investor Contact
Sean Mansouri, CFA Elevate IR
(720) 330-2829
ARKO@elevate-ir.com

FAQ

What did ARKO (ARKO) and Apollo Power announce on November 17, 2025?

They signed a non-binding MOU to evaluate Apollo’s flexible solar systems at a minimum of 300 ARKO/GPM sites, with exclusivity to finalize binding agreements within 60 days.

How large is the ARKO-Apollo Power opportunity in dollar terms for ARKO (ARKO)?

The MOU cites an estimated cumulative turnkey program value of approximately $53 million over a multi-year rollout.

How many ARKO sites could potentially receive Apollo Power systems under the MOU?

The parties expect to evaluate deployment at no fewer than 300 sites as part of the initial program.

Does the ARKO-Apollo MOU create a binding obligation for ARKO (ARKO) to buy solar systems?

No, the document is described as a non-binding MOU; binding agreements are expected to be negotiated within 60 days.

What services are included in the ARKO-Apollo partnership scope for ARKO (ARKO)?

The program is described as a turnkey EPC engagement covering design, engineering, installation, and grid connection.

How significant is ARKO’s footprint that Apollo Power gains access to from this deal?

ARKO’s network operates or distributes fuel to more than 3,500 gas stations and convenience stores across 30+ states, providing broad U.S. coverage.