EVgo Leads Electric Car Charging Network Investment-Fueled Expansion

May 31st, 2016 by Fiedler Group

Two national electric-car charging networks recently announced separate investments that will help both companies expand operations.

ChargePoint announced the securement of an additional $50 million in a funding round; EVgo also announced a significant investment from Vision Ridge Partners.

The EVgo deal effectively separates the EVgo brand from the NRG utility company brand, which previously owned and operated EVgo.

With this new investment, EVgo becomes its own company, with its own serving board of directors.

Coupled with the continued funding from NRG, EVgo indicates it has $100 million available to expand its charging infrastructure.

The company’s current charging network consists of 665 DC fast-charging stations in 50 metropolitan markets throughout the United States.

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