EVgo Is ‘Confident’ $1 Billion Conditional DOE Loan Will Close

EVgo is working to close a $1.05 billion conditional loan guarantee from the US Energy Department that will support as many 7,500 fast-charging stalls.

• “We’re now focused on fulfilling the conditions necessary to close the loan. We do not expect a lengthy process,” Chief Executive Officer Badar Khan says on earnings call
  • Co. announced conditional guarantee in October
• Conditional loan guarantee is offered by agency’s Loan Programs Office, which could face reorganization under incoming President Donald Trump
• Executives declined to discuss specific timeline or conditions from DOE, say they’re “confident” loan will close

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