[Photo above: Apollo Power CEO Oded Rozenberg at the company’s plant in Mevo Carmel. Photo: Ilan Safra]

Apollo Power announced on Sunday that it has signed a non-binding Memorandum of Understanding (MOU) with GPM Investments, the wholly owned subsidiary of ARKO Corp — one of the largest fuel-station and convenience-store networks in the United States. Under the MOU, the companies will work over the next 60 days to finalize binding agreements, during which Apollo will hold full exclusivity for the development of solar projects across ARKO sites. Following the announcement, Apollo’s share price surged more than 8% on the Tel Aviv Stock Exchange as of noon.

As part of the agreement, GPM will evaluate deploying Apollo’s technology at at least 300 sites across the U.S. These are large-scale turnkey projects — including design, engineering, construction, installation, and grid connection — with an estimated cumulative value of $53 million, expected to roll out over several years.

ARKO Corp is a major American operator listed in the Fortune 500 and the full owner of GPM Investments. The company oversees an extensive network of more than 3,500 fuel stations and convenience stores across roughly 30 U.S. states. Its operations span four main segments: retail at company-operated stations and stores; wholesale fuel sales to independent dealers; fleet-fueling services via dedicated fueling sites and fuel cards; and GPM Petroleum, which supplies fuel to both retail and wholesale locations.

As a large and long-established player, ARKO has in recent years been looking for new ways to generate additional value from its real-estate footprint — including the adoption of renewable-energy systems.

Apollo develops and manufactures lightweight, flexible solar sheets that can be installed even on rooftops and structures unable to support traditional solar panels. The company’s proprietary technology enables factories, logistics centers, and commercial facilities to turn nearly any sun-exposed surface into a power-generating asset.

The collaboration with ARKO could become one of Apollo’s most significant projects to date, strengthening its position as a leading technology provider in the U.S. distributed-energy market. For ARKO, the partnership represents an opportunity to monetize thousands of rooftops and forecourt structures through solar generation. For Apollo, it marks a meaningful entry point into the vast American market, backed by a partner with nationwide scale and visibility.

“Apollo’s ability to generate solar energy from rooftops that cannot carry standard panels offers a major advantage,” said Apollo CEO Oded Rozenberg. “It enables fuel-station owners to turn their real estate into an additional income stream.”