EVgo Gets First Disbursement From $1.25B Loan Guaranteed by DOE
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EVgo has received its first $75 million disbursement from a $1.25 billion loan guaranteed by the U.S. Department of Energy. This funding will be used to expand EV charging infrastructure.
January 09, 2025 | 5:00 pm
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EVgo has received its first $75 million from a $1.25 billion DOE-backed loan to expand its EV charging infrastructure. This funding is crucial for EVgo's growth and market position.
The disbursement of $75 million from a $1.25 billion DOE-backed loan is a significant financial boost for EVgo. It enables the company to expand its EV charging infrastructure, which is critical for its growth and competitiveness in the EV market. This development is likely to positively impact EVgo's stock price in the short term as it enhances the company's capacity to meet increasing demand for EV charging solutions.
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