The United States on Thursday offered EVgo a conditional loan guarantee of up to $1.05 billion to expand public electric vehicle-charging infrastructure across the country, some of which in marginalized urban communities.

EVgo Inc. announced it has received a conditional commitment for a loan guarantee of up to $1.05 billion of debt financing from the U.S. DOE.

Shares of EVgo Inc. (NASDAQ:EVGO) soared 24% on Wednesday, driven by a bullish upgrade from JPMorgan and news of a $1 billion loan guarantee from the U.S. Department of Energy (DOE). The stock initially rose 9% following the

Financial assistance to help utility giant Constellation Energy restart a nuclear unit at Three Mile Island is also under consideration, according to The Washington Post.

Shares of EVgo Inc. surged the most in more than three years after the electric vehicle charging company received a conditional loan guarantee of up to $1.05 billion from the US Department of Energy to expand its network.

EVgo will focus on underserved communities where people can't charge at home. The electric vehicle charging company EVgo has secured conditional approval for a $1.05 billion loan from the US Department of Energy,

EVgo has received a conditional commitment from the Department of Energy for a $1.05 billion loan. The low-cost financing would enable the company to build approximately 7,500 new charging stalls across the country.

EVgo got a $1.1 billion loan commitment from the DOE. Here's what the Los Angeles EV-charging company will use the money for.