09:24 AM EDT, 10/03/2024 (MT Newswires) -- EVgo ( EVGO ) said Thursday it has received a conditional commitment for a loan guarantee of up to $1.05 billion from the US Department of Energy to expand its fast charging network.

The financing will facilitate the build out of about 7,500 additional fast charging stalls across the US, the company said. If finalized, the deployment of the new stations is expected to be completed by 2030, the company said.

EVgo ( EVGO ) shares rose 33% in recent Thursday premarket activity.

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