EVgo Secures $1.25B Loan to Build Fast-Charging Stalls Across US

EVgo, Inc. (EVGO) has finalized a $1.25 billion guaranteed loan from the U.S. Department of Energy (“DOE”) Loan Programs Office under the Title 17 Clean Energy Financing Program. The loan features a 17-year term with capitalized interest during a five-year deployment period starting in 2025. This funding will support the construction of 7,500 new fast-charging stalls across the country, significantly expanding EVgo’s public charging network. By 2029, this expansion will bring EVGO’s owned and operated fast ...