EVgo Receives Conditional Commitment For DOE Loan Guarantee Of Up To $1.05B To Accelerate Buildout Of Public Fast Charging Across The U.S.
Portfolio Pulse from Benzinga Newsdesk
EVgo Inc. has received a conditional commitment for a $1.05 billion loan guarantee from the U.S. Department of Energy to expand its fast charging network across the U.S. This financing will support the construction of approximately 7,500 new DC fast charging stalls.
October 03, 2024 | 12:41 pm
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EVgo Inc. has secured a conditional commitment for a $1.05 billion loan guarantee from the DOE to expand its fast charging network, potentially boosting its market position and growth prospects.
The DOE loan guarantee provides EVgo with significant low-cost financing, enabling the company to expand its fast charging infrastructure. This expansion is likely to enhance EVgo's market position and growth prospects, positively impacting its stock price in the short term.
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