EVgo Selected by California Energy Commission for Proposed Awards of $6.6 Million to Deploy More Than 100 New DC Fast Charging Stalls Across 17 Locations
April 04 2023 - 7:00AM
Business Wire
Public funding leverages private sector
investments to expand the growth of fast charging in central and
eastern California with a focus on equitable placement to support
environmental justice
EVgo Inc. (NASDAQ: EVGO), one of the nation’s largest public
fast charging networks for electric vehicles (EVs), today announced
it has been selected for proposed awards of $6.6 million from the
California Energy Commission’s (CEC) California Electric Vehicle
Infrastructure Project (CALeVIP) 2.0 program. The funding is
designed to aid the deployment of fast charging infrastructure in
the central and eastern regions of California through the Golden
State Priority Project (GSPP), which provides rebates for the
installation of DC fast chargers capable of at least 150kW,
focusing exclusively on disadvantaged community or low-income
community census tracts. With the rebate, EVgo will be deploying
high-power 350kW chargers at each of the locations supported
through this program as part of the company’s ongoing commitment to
delivering a best-in-class charging experience.
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EVgo Fast-Charging Station in Castro
Valley, CA (Photo: Business Wire)
“EVgo recognizes the ongoing importance of public-private
partnerships to enable rapid EV adoption, and the California Energy
Commission is a true leader in incenting market acceleration and
private sector investment through programs like CALeVIP 2.0,” said
Jonathan Levy, Chief Commercial Officer at EVgo. “EVgo and the CEC
share a commitment to Electric for All that includes ensuring fast
charging infrastructure is distributed equitably and installed in
communities across demographics and geographies.”
Launched in January 2023, the GSPP was the first project
available through CALeVIP 2.0 with a focus on equity and swift
charger installation. With the proposed funding, EVgo will build
more than 100 DC fast charging stalls across 17 locations in
central and eastern California, including Fresno, Hayward, Manteca,
El Cerrito, Antioch and San Jose. More than 40% of EVgo’s existing
fast charging network in California is located in disadvantaged
and/or low-income census tracts, and with these 17 fast charging
projects, EVgo can bring more convenient and affordable charging
solutions to neighborhoods that will benefit most from the
electrification of transportation.
In addition to its focus on equity, GSPP incorporates a number
of public funding best practices, including a focus on higher-power
equipment and project readiness, prioritizing projects likely to be
able to deliver near-term results for Californians.
For more information about the EVgo charging network, visit
www.evgo.com.
About EVgo
EVgo (Nasdaq: EVGO) is a leader in charging solutions, building,
and operating the infrastructure and tools needed to expedite the
mass adoption of electric vehicles for individual drivers,
rideshare and commercial fleets, and businesses. Since its founding
in 2010, EVgo has led the way to a cleaner transportation future
and its network has been powered by 100% renewable energy since
2019 through the purchase of renewable energy certificates. As one
of the nation’s largest public fast charging networks, EVgo’s owned
and operated charging network includes around 900 fast charging
locations, 60 metropolitan areas and 30 states. EVgo continues to
add more DC fast charging locations through EVgo eXtend™, its white
label service offering. EVgo is accelerating transportation
electrification through partnerships with automakers, fleet and
rideshare operators, retail hosts such as grocery stores, shopping
centers, and gas stations, policy leaders, and other organizations.
With a rapidly growing network, robust software products and unique
service offerings for drivers and partners including EVgo Optima™,
EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables
world-class charging experience where drivers live, work, travel
and play.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," “proposed,” "forecast," "intend,"
"will," "expect," "anticipate," "believe," "seek," "target" or
other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements are based on management’s current
expectations or beliefs and are subject to numerous assumptions,
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
These forward-looking statements include, but are not limited to,
express or implied statements regarding EVgo’s future financial
performance and the anticipated award of funding and EVgo’s
deployment of chargers in connection with the CALeVIP 2.0 program.
These statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of EVgo’s management and are not predictions of actual performance.
There are a significant number of factors that could cause actual
results to differ materially from the statements made in this press
release. See “Risk Factors” in EVgo’s Annual Report on Form 10-K
filed with the SEC on March 30, 2023, as well as its other filings
with the SEC, copies of which are available on EVgo’s website at
investors.evgo.com, and on the SEC’s website at www.sec.gov. All
forward-looking statements in this press release are based on
information available to EVgo as of the date hereof, and EVgo does
not assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made, except as required by
applicable law.
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