EVgo Inc. (NASDAQ:EVGO) announced that the company and its eXtend partners were selected by the Ohio Department of Transportation for proposed awards of $13.8M in funding to deploy 20 fast charging stations.
The company said fourteen of the 20 locations are owned by EVgo eXtend partner Pilot Company, and all EVgo and EVgo eXtend stations deployed through the new awards will feature 350kW high-power fast charging.
Of the more than $18M awarded by the DriveOhio program in its first tranche of National Electric Vehicle Infrastructure funds to be released, EVgo (EVGO) and its eXtend partners received more than 75%.
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.
“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,” noted EVgo (EVGO) Cathy Zoi.
Shares of EVgo (EVGO) fell 0.25% in premarket trading on Monday to $4.02.
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