By Stephen Nakrosis
Shares of electric-vehicle charging company EVgo were trading higher in the after-hours market following news it closed a $1.25 billion loan facility from the U.S. Energy Department.
After the bell Thursday, the company's shares had risen about 11% to trade at $6.90. Volume in the late session topped 2.2 million shares.
The company's stock finished the day's regular session with a 3.8% loss, closing at $6.22.
The company said the loan, made under the department's Title 17 Clean Energy Financing Program, will support nationwide deployment of about 7,500 high-power fast charging stalls. The buildout will bring EVgo's total owned and operated network to at least 10,000 fast charging stalls, the company said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 12, 2024 17:27 ET (22:27 GMT)
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