EVgo Gets First Disbursement From $1.25B Loan Guaranteed by DOE

EVgo, Inc. (EVGO) has secured its first $75 million disbursement from a $1.25 billion guaranteed loan provided by the U.S. Department of Energy’s (DOE) Loan Programs Office under the Title 17 Clean Energy Financing Program. The financial close for the loan was achieved in December 2024 after an extensive 18-month process.This initial funding, along with future drawdowns over a five-year deployment period, will support EVgo's efforts to expand its nationwide charging infrastructure. The company has already i ...