EVgo has secured a $1.25-billion guaranteed loan facility from the U.S. Department of Energy's Loan Programs Office, advancing their mission to expand electric vehicle charging infrastructure across the United States.

The funding, provided through the Title 17 Clean Energy Financing Program, will support EVgo's ambitious expansion plan to construct 7,500 new fast charging stalls nationwide. This significant development will more than triple EVgo's network footprint by 2029, bringing their total owned and operated network to at least 10,000 fast charging stalls.

This strategic investment represents a major step forward in developing convenient and reliable public charging infrastructure, addressing one of the key barriers to widespread electric vehicle adoption in the United States.

The expansion will help meet the growing demand for EV charging stations while supporting the nation's transition to sustainable transportation solutions.

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