EVgo (EVGO) announced it has received its first drawdown of $75M from its $1.25B guaranteed loan from the U.S. Department of Energy Loan Programs Office under its Title 17 Clean Energy Financing Program, which reached financial close in December 2024 after a thorough 18-month process. This and subsequent drawdowns over the five-year deployment period will support the company’s ongoing buildout efforts to deploy nationwide charging infrastructure. EVgo has already built the first new stalls financed by the loan and will continue to prioritize installations in amenity-rich locations offering retail, dining, shopping and service options across the United States.
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