LS Power, a development, investment and operating company focused on the North American power and energy infrastructure sector, has agreed to purchase electric vehicle charging network EVgo from Vision Ridge Partners.
Financial terms were not disclosed.
Founded in 2010, EVgo operates more than 750 sites with 1,250 fast chargers and extends across 34 states. In 2018, Evgo’s public fast charging network powered more than 75 million electric miles and offset 17,000 metric tons of carbon emissions, according to a statement by LS Power. Additional network capacity expansion is currently under way.
In 2019, EVgo became the first EV charging network in the United States to be powered by 100 percent renewable energy.
“This acquisition provides LS Power the opportunity to support the continued expansion of Evgo’s unmatched charging infrastructure platform, already present in 66 metropolitan markets, and invest further in the company’s growth as the market