New York, October 03, 2024 - PRISM MarketView - PRISM Emerging EV Index company EVgo, Inc. (EVGO) has announced it received a conditional commitment loan guarantee from the US Department of Energy (DOE) for up to $1.05Bn of debt financing to accelerate its fast charging network across the country. This is expected to support about 7,500 new DC fast charging stalls in US communities.
Once completed EVgo’s charging stations will be in top state markets such as Arizona, California, Florida, Georgia, Illinois, Michigan, New Jersey, New York, Pennsylvania and Texas by 2030. EVgo estimates that the project buildout will create more than 1,000 jobs with over 700 being contracted resources engaged by the company through various roles such as construction, engineering, development, and operations and maintenance. EVgo expects to begin rolling out this new infrastructure in the second half of 2026.
EVgo fast charging station installed near multifamily housing
Shares of EVGO have risen ~60% on the announcement.
About PRISM MarketView:
Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at prismmarketview.com and follow us on X.
Disclaimer:
PRISM MarketView is not a registered or licensed broker-dealer or investment adviser and does not offer investment advice. The information provided in this communication is not intended to constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any security.
Contact:
Prism MarketView | Stock Market News & Investment Opportunities