EVgo and Partners Selected by Ohio Department of Transportation for Proposed Awards of $13.8M in NEVI Funding for 20 Fast Charging Stations Along Interstate Corridors
July 17 2023 - 7:00AM
Business Wire
Public funding supports the development of both
EVgo-owned fast charging stations at retail locations, as well as
those built through EVgo eXtend partnerships
EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the
nation’s largest public fast charging networks for electric
vehicles (EVs), today announced that the company and its eXtend
partners were selected by DriveOhio, a division of the Ohio
Department of Transportation, for proposed awards of $13.8M in
funding to deploy 20 fast charging stations. Fourteen of the 20
locations are owned by EVgo eXtend partner Pilot Company, and all
EVgo and EVgo eXtend stations deployed through these awards will
feature 350kW high-power fast charging. Of the more than $18M
awarded by DriveOhio in its first tranche of National Electric
Vehicle Infrastructure (NEVI) program funds to be released, EVgo
and its eXtend partners received more than 75%.
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EVgo's Kroger Brewers Yard fast charging
station in Columbus, OH. (Photo: Business Wire)
“Fast charging deployments are poised to scale at unprecedented
rates thanks to the public-private partnerships strengthened by
NEVI, and states like Ohio are leading the way,” said Cathy Zoi,
CEO at EVgo. “Thanks to our long operational history and our blue
ribbon partnerships on both our owned and operated network and
through our eXtend business, we are well-positioned to deliver the
fast charging infrastructure needed by states like Ohio. We thank
the state for selecting us and our eXtend partners as we continue
to expand our network to meet the growing demand for charging in
the Buckeye State.”
Ohio is one of the first states to announce awards from the NEVI
program, which was established following the passage of the
Bipartisan Infrastructure Law and includes over $5B in formula
funding that applicants will be able to unlock to build EV charging
infrastructure nationwide. Over the next five years, DriveOhio will
release over $100 million in NEVI funds to further support EV
charging infrastructure deployment across the state. In this first
tranche, DriveOhio awarded more than $18 million in NEVI funds for
27 new EV charging stations along key corridors, including I-70,
I-71, I-74, I-75, I-76, I-77, and I-90.
Today, Ohio has 130 publicly available fast chargers.1 EVgo’s
most recently opened station in the state in Beachwood—just outside
Cleveland—offers EV drivers four fast charging stalls with speeds
up to 350kW. In total, EVgo currently operates 37 fast charging
stalls across 10 locations in Ohio, including key metro markets
such as Cleveland, Columbus and Cincinnati.
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 2019, EVgo
has purchased renewable energy certificates to match the
electricity that powers its network. 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 across the U.S., including stations built
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 a 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 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 NEVI program and associated state
programs. These statements are subject to numerous assumptions,
risks and uncertainties and on the current expectations of EVgo’s
management, and are not predictions of actual performance. 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.
____________________
1
https://drive.ohio.gov/programs/electric/infrastructure/nevi/nevi
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