EVgo Services LLC (EVGO)

[GorillaDaddy]

So — no one here talking about this after hours runner and earnings kicking ass…. IHub feels dead and only for the OTC

[WeTheMarket]

EVGO INC. REPORTS RECORD SECOND QUARTER 2023 RESULTS
August, 02, 2023
Link to Press Release https://investors.evgo.com/news/news-details/2023/EVgo-Inc.-Reports-Record-Second-Quarter-2023-Results/default.aspx
Link to Presentation https://s27.q4cdn.com/370825096/files/doc_financials/2023/q2/2023-08-02-EVgo-2023-Q2-Earnings-Presentation.pdf

Summary
- Revenue grew to a record $50.6 million in the second quarter, representing an increase of 457% year-over-year.
- Network throughput reached a record 24.9 gigawatt-hours (“GWh”) in the second quarter, an increase of 147% year-over-year.
- Total network utilization was in the double digits in the second quarter.
- Ended the second quarter with approximately 3,200 stalls in operation or under construction, with 210 new stalls added to the EVgo network during the quarter.
- Added more than 82,000 new customer accounts in the second quarter, reaching approximately 688,000 overall at the end of the quarter.
- Won $13.8 million of Ohio NEVI funding for EVgo owned and EVgo eXtend sites, representing 75% of awarded funds.

LOS ANGELES--(BUSINESS WIRE)-- EVgo Inc. (Nasdaq: EVGO) (“EVgo” or the “Company”) today announced results for the second quarter ended June 30, 2023. Management will host a conference call today at 5:00 p.m. ET / 2:00 p.m. PT to discuss EVgo’s results and other business highlights.

Revenue increased to $50.6 million in the second quarter of 2023, compared to $9.1 million in the second quarter of 2022, representing 457% year-over-year growth. Revenue growth was primarily driven by year-over-year increases in eXtend™ revenue and charging revenues.

Network throughput increased to 24.9 GWh in the second quarter of 2023, compared to 10.1 GWh in the second quarter of 2022, representing 147% year-over-year growth. The Company added approximately 82,000 new customer accounts during the second quarter, bringing the overall number of customer accounts to 688,000 at quarter-end, an increase of 55% year-over-year.

“EVgo had a phenomenal second quarter with significant growth in key areas including stalls, throughput, customer accounts, utilization, and revenue,” said Cathy Zoi, EVgo’s CEO. “We are pleased to report EVgo’s network throughput growth is accelerating, demonstrating the leverage in our business and financial model as the auto sector rapidly electrifies. We continue to energize new stalls across the network and surpassed the double-digit utilization threshold for the quarter network wide. In addition, EVgo won 75% of Ohio’s NEVI awards and will put $13.8 million to work in EVgo-owned and EVgo eXtend sites across the state. Our results demonstrate the depth of our team and experience in developing, constructing, and operating a leading fast charging network.”

Business Highlights

- National Electric Vehicle Infrastructure Program (“NEVI”): EVgo and its eXtend™ partners were selected by DriveOhio, a division of the Ohio Department of Transportation, for proposed awards of $13.8 million in funding to deploy 20 fast charging stations in Ohio.
- GM Partnership: EVgo and General Motors opened the 1,000th stall under the program.
- EVgo eXtendTM: During the second quarter, the Company continued delivering charging equipment and began site mobilization for projects under the Pilot Flying J/GM program. The Company expects to have the first Pilot site operational in the third quarter of 2023.
- Fleet Charging: EVgo’s public fleet charging business continues to scale with growth in rideshare throughput from last quarter, largely driven by collaborative partnerships with Uber and Lyft. EVgo also launched a partnership with a major car sharing company to support their pilot of electric vehicles in San Francisco. In the Hubs sector, the Company operationalized a new dedicated charging hub site and broke ground on another dedicated hub in San Francisco with an existing AV partner.
- North American Charging Standard (“NACS”) Connectors: Announced plans to add NACS connectors to EVgo chargers.
EVgo Autocharge+: Autocharge+ exceeded 13% of total charging sessions initiated.
- PlugShare: PlugShare reached nearly 3.7 million registered users and achieved 6.9 million check-ins since inception. Signed a PlugShare deal with GM to provide comprehensive POI data for GM’s applications for its EV customers in several geographic regions, including North America, and South America for the next three years.
- Equity Issuance: The Company issued approximately 890,000 shares of Class A common stock with $5.7 million raised in net proceeds through its “at-the-market” equity offering program followed by the issuance of approximately 30.1 million shares of Class A common stock with $123.4 million raised in net proceeds through a primary equity offering.

Financial & Operational Highlights

The below represent summary financial and operational figures for the second quarter of 2023.

- Revenue of $50.6 million
- Network Throughput of 24.9 gigawatt-hours
- Customer Account Additions of approximately 82,000 accounts
- Gross Profit of $5.5 million
- Net Loss of $21.5 million
- Adjusted Gross Profit of $12.9 million1
- Adjusted EBITDA of ($10.6) million1
- Cash Flows Used in Operating Activities of $3.2 million
- Gross Capital Expenditures of $34.8 million

1 Adjusted Gross Profit and Adjusted EBITDA are non-GAAP measures and have not been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”). For a definition of these non-GAAP measures and a reconciliation to the most directly comparable GAAP measure, please see “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures” included elsewhere in this release.

2023 Financial & Operating Guidance

EVgo is updating full year 2023 guidance as follows:

- Total revenue of $120 – $150 million
- Adjusted EBITDA of ($78) – ($68) million*

Additionally, at year-end 2023, EVgo continues to expect to have a total of 3,400 – 4,000 DC fast charging stalls in operation or under construction.

*A reconciliation of projected Adjusted EBITDA (non-GAAP) to net income (loss), the most directly comparable GAAP measure, is not provided because certain measures, including share-based compensation expense, which is excluded from Adjusted EBITDA, cannot be reasonably calculated or predicted at this time without unreasonable efforts. For a definition of Adjusted EBITDA and a reconciliation to the most directly comparable GAAP measure for historical periods presented in this release, please see “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures” included elsewhere in this release.

Conference Call Information

A live audio webcast and conference call for EVgo’s second quarter 2023 earnings release will be held today at 5:00 p.m. ET / 2:00 p.m. PT. The webcast will be available at investors.evgo.com, and the dial-in information for those wishing to access via phone is:

Toll Free: [phone] (for U.S. callers)
Toll/International: [phone] (for callers outside the U.S.)
Conference ID: 6304708

This press release, along with other investor materials, including a slide presentation and reconciliations of certain non-GAAP measures to their nearest GAAP measures, will also be available on that site.

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since 2019, EVgo has purchased renewable energy certificates to match the electricity that powers its network. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network includes around 900 fast charging locations, 60 metropolitan areas and 30 states. EVgo continues to add more DC fast charging locations across the U.S., including stations built through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.

[WeTheMarket]

EVGO ANNOUNCES LEADERSHIP SUCCESSION PLAN
August, 02, 2023
https://investors.evgo.com/news/news-details/2023/EVgo-Announces-Leadership-Succession-Plan/default.aspx

Cathy Zoi to Retire as CEO and from the Board of Directors, Effective in November 2023

Industry Veteran and Lead Independent Director, Badar Khan, to Become CEO

LOS ANGELES--(BUSINESS WIRE)-- EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (“EVs”), today announced that its Board of Directors has appointed Badar Khan to succeed Cathy Zoi as Chief Executive Officer, effective on or about November 9, 2023. Zoi will retire as CEO and from the Board following an impactful career with EVgo where she oversaw a 957% increase in quarterly revenue since the Company went public in 2021. To promote a smooth transition, Zoi will serve as an advisor to the Company and work closely with Khan through the end of 2023.

“Leading EVgo from a 50-person, private enterprise focused on a nascent EV sector, to a leader in charging solutions serving nearly 700,000 customers has been a highlight of my career,” said Zoi. “I set out to build a strong business yielding robust growth in charger deployments, network utilization, and company revenues, and as a team we have accomplished that. With the focus now being to build on that foundation to further scale EVgo to meet evolving fast charging demand, I believe that it is the right time to implement this leadership transition. I have been fortunate to know and work with Badar in his capacity as Lead Independent Director, and I’ve seen firsthand the breadth of his talents. I believe that Badar’s experience overseeing large, dynamic customer facing energy organizations aligns perfectly with the opportunity ahead of EVgo and that he is the right person to be our next CEO. I am delighted to continue working closely with Badar and my colleagues on the management team to promote a smooth transition. I am excited to see what is yet to come for EVgo.”

David Nanus, Chair of the Board of Directors of EVgo, stated, “Badar’s impressive accomplishments have established him as a respected leader who is well-suited to build upon Cathy’s successes. Having worked closely with Badar on the EVgo Board, I know that he possesses a holistic understanding of the dynamics of our business and knows what it takes to win in the marketplace. He has more than 25 years of experience in the energy sector, including overseeing the development of one of the largest EV infrastructure programs for utilities in the U.S., servicing more than 20 million customers and executing critical partnerships and acquisitions. With Badar at the helm of EVgo’s stellar leadership team and deep bench of executive talent, I am confident that this will be a smooth transition that will ultimately take EVgo to the next level.”

Nanus continued, “On behalf of the Board, I want to thank Cathy for her remarkable service and commitment, leading EVgo through its incredible transformation and rapid growth during the last half-decade. Throughout her accomplished tenure as CEO, EVgo has grown to become one of the nation’s largest public fast charging networks for electric vehicles. EVgo would not be the impressive company it is today without Cathy’s vision, dedication and stewardship. I speak on behalf of the Board and all of EVgo’s talented employees in wishing Cathy only the best.”

Khan commented, “I will be honored to succeed Cathy and take on the role of CEO and lead EVgo at this exciting time for our business and the industry. I greatly appreciate the work Cathy and our talented team have done. They have honed the elements of the flywheel that we believe will enable rapid electrification and sustained commercial success. Building on these achievements, I share Cathy’s excitement for EVgo’s future. As the sector continues to revolutionize the world at a rapid pace, I see tremendous opportunities ahead and believe we will continue to be a leader in the EV revolution. I am excited to work closely with EVgo’s talented management team and our incredible employees in an effort to capture those opportunities, drive growth, deliver for our customers and enhance shareholder value.”

Second Quarter 2023 Results

In a separate press release issued today, EVgo reported strong second quarter 2023 financial results. Management will host a conference call today at 5:00 p.m. ET / 2:00 p.m. PT to discuss EVgo’s results and other business highlights.

That press release, along with other investor materials, including a slide presentation and reconciliations of certain non-GAAP measures to their nearest GAAP measures, will also be available on investors.evgo.com.

About Badar Khan

A more than 25-year veteran of the energy sector, Badar Khan has served on the EVgo Board of Directors since 2022. He has also served as the Board’s Lead Independent Director, as Chair of the Board’s Compensation Committee and as a member of the Board’s Audit Committee and Nominating & Governance Committee. From 2017 to 2022, Khan worked for National Grid, one of the largest investor-owned utilities in the world. Most recently, he served as President of National Grid USA, overseeing the provision of energy and clean energy solutions to more than 20 million people across Massachusetts, New York and Rhode Island, and previously as President of National Grid Ventures. During his time at National Grid, Khan oversaw the regulatory approval for one of the largest “make ready” electric vehicle infrastructure programs for utilities in the U.S., the acquisition of an onshore solar and wind renewables development company, and the launch of one of the largest utility corporate venture capital funds in the U.S., with over 40 investments and partnerships in the energy and clean tech space. Prior to that, Khan spent 14 years at Centrica plc, where he was a member of the leadership team of its North American subsidiary, Direct Energy, including serving as CEO for four years. Under his leadership, Direct Energy experienced significant growth reaching revenue of more than $15 billion USD, serving over five million customers and becoming one of the largest and most innovative retail energy and services companies in North America through multiple acquisitions and more than a dozen partnerships with large and small technology companies. Earlier in his career, Khan was an officer of SmartEnergy, a private retail energy company in the U.S. and worked in management consulting with Deloitte Consulting in Boston and KPMG in London. Khan began his career with Jaguar Cars in the UK.

In addition to his role on the EVgo Board of Directors, Khan currently serves on the Board of Directors of CRH plc, a leading building materials business, on the advisory board of Zero Infinity Partners, an early-stage venture capital firm, and as Senior Advisor to Global Infrastructure Partners, one of the world’s largest independent infrastructure investors. Khan received a degree in engineering from Brunel University in London and an MBA from the Wharton School of the University of Pennsylvania.

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since 2019, EVgo has purchased renewable energy certificates to match the electricity that powers its network. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network includes around 900 fast charging locations, 60 metropolitan areas and 30 states. EVgo continues to add more DC fast charging locations across the U.S., including stations built through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.

[WeTheMarket]

The 2023 EV Charging Station Report: State-by-State Breakdown
by Zutobi · Updated Aug 02, 2023
https://zutobi.com/us/driver-guides/the-us-electric-vehicle-charging-point-report

Summary
- The number of EVs in the US has increased by 42% since the last edition of the report, increasing from 1,019,260 to 1,454,580.
- However, the growth in public charging outlets hasn’t quite matched that, growing from 128,549 to 143,771 over the same period, an increase of around 12%.

[WeTheMarket]

EVgo and General Motors Open 1,000th DC Fast Charging Stall as Part of Metropolitan Charging Collaboration
August 01 2023
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/91701214/evgo-and-general-motors-open-1-000th-dc-fast-charg

Key quote "To date, EVgo and GM have opened fast charging stalls across nearly 230 locations in 39 markets covering 27 states, with the majority featuring high-power 350kW fast charging. EVgo and GM are working together to broaden access to public charging where EV drivers already spend time, such as grocery stores, retail centers and city centers, while also serving the need for customers who are unable to charge at home or work, such as renters and those living in multifamily dwellings."

[WeTheMarket]

EVgo Introduces “Charge Talk” Video Series to Answer Current and Future EV Drivers’ Biggest Questions on EV Charging
July 27 2023
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/91662108/evgo-introduces-charge-talk-video-series-to-an

[WeTheMarket]

EVgo to Report Second Quarter 2023 Results on August 2, 2023
July 25 2023
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/91644147/evgo-to-report-second-quarter-2023-results-on-augu

EVgo Inc. (Nasdaq: EVGO), (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced that it will release its second quarter 2023 financial results on Wednesday, August 2, 2023. This release will be followed by a webcast hosted by members of the EVgo management team at 2:00 p.m. PT (5:00 p.m. ET).

EVgo Second Quarter 2023 Webcast
When: Wednesday, August 2, 2023
Time: 2:00 p.m. PT (5:00 p.m. ET)
Live Webcast: https://investors.evgo.com/events-and-presentations

The call can also be accessed live over the telephone by dialing:
Toll Free: [phone] (for U.S. callers)
Toll/International: [phone] (for callers outside the U.S.)
Conference ID: 6304708

An archive of the webcast will be available for a period of time shortly after the call on the Events & Presentations page in the Investor Relations section of EVgo’s website.

[Dutch4]

Thanks.

[Monksdream]

EVGO a bottom play

[WeTheMarket]

EVgo and Partners Selected by Ohio Department of Transportation for Proposed Awards of $13.8M in NEVI Funding for 20 Fast Charging Stations Along Interstate Corridors
July 17 2023
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/91582944/evgo-and-partners-selected-by-ohio-department-of-t

[sharky]

Wall Street is positive on Evgo Inc (EVGO). On average, analysts give EVGO a Buy rating. The average price target is $7.9, which means analysts expect the stock to increase by 85.45% over the next twelve months. That average ranking earns EVGO an Analyst Rating of 33, which is better than 33% of stocks based on data compiled by InvestorsObserver.

https://www.google.com/amp/s/www.investorsobserver.com/news/stock-update/amp/evgo-inc-evgo-stock-do-analysts-think-you-should-sell


$EVGO

[Dutch4]

Anyone think this will get back to $10?

[WeTheMarket]

EVgo charging stations featured prominently in this video posted a week ago.

[Scotttrader80]

Its quite possible, EVgo popped to $18.00 with much less

[GorillaDaddy]

Anyone else pumped? Hoping we go in a rampage to 8-12 here in a few months

[Scotttrader80]

Today, companies including Tesla, General Motors, EVgo, Pilot, Hertz and bp, among others, are announcing new commitments to expand their networks by thousands of public charging ports in the next two years,

https://www.whitehouse.gov/briefing-room/statements-releases/2023/02/15/fact-sheet-biden-harris-administration-announces-new-standards-and-major-progress-for-a-made-in-america-national-network-of-electric-vehicle-chargers/

[GorillaDaddy]

Just give this a gander —

We are so freaking early

https://www.pwc.com/us/en/industries/industrial-products/library/electric-vehicle-charging-market-growth.html

[GorillaDaddy]

Oof, 800 shares $4.00 average come on baby! Stay afloat!

[sharky]

Expert Ratings for EVgo: https://www.google.com/amp/s/www.benzinga.com/amp/content/32932277


$EVGO $EV

[WeTheMarket]

Posted 10 days ago.

[WeTheMarket]

Tesla May Have Accidentally Created a Potential $5 Billion EV Charging Business
BY JUSTIN WORLAND
JUNE 15, 2023
https://time.com/6287589/tesla-ev-charging-business-model/

[GorillaDaddy]

And here we are — up and up. Hope someone caught this AM sub $4 — may be the last

[GorillaDaddy]

Ekkkkk and it continues….

[GorillaDaddy]

How we doing? Gonna load a little more for a big round number here.

[WeTheMarket]

EVgo Announces Plans to Expand NACS Deployments
June 12 2023
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/91305142/evgo-announces-plans-to-expand-nacs-deployments

Recent Announcements by Tesla, GM, and Ford Underscore Acceleration of Deployments That Can Help to Spur Faster EV Sales, Throughput Growth on EVgo and Other Networks

EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced that the company will be adding North American Charging Standard (NACS) connectors to its fast charging network across the country following the recent announcements by Ford and General Motors (GM) that they will be leveraging NACS starting some time in 2025.

"EVgo first deployed integrated Tesla connectors in 2020, and with the recently announced expansion of the number of automakers using the NACS connector, we are excited to announce that we will also be integrating NACS connectors on the EVgo network in future deployments as well as on some existing chargers,” said Cathy Zoi, CEO of EVgo. “As a first mover in EV charging, EVgo has a history of delivering for all EV drivers, evolving from CHAdeMO only to CHAdeMO and CCS, and now CHAdeMO, CCS, and NACS through both integrated connectors and Tesla to CCS adapters. We believe these developments will help to accelerate EV adoption rates and sales, which in turn will spur throughput growth on EVgo's network.

“With the shift to EV ubiquity underway, growing demand for charging means there will need to be hundreds of thousands of new fast chargers deployed in the US over the next decade, and we know that customers select chargers based on location, convenience, and ease of use. That is why EVgo prioritizes the deployment of technology like Autocharge+, EVgo Rewards™ and Reservations, and more, so that EV drivers can quickly, reliably, and conveniently charge their vehicles no matter which plug they use. With EVgo Renew™ underway and ongoing, we will also assess which future upgrades or replacements can include a NACS connector as well.

“EVgo's long-term success is directly tied to EV adoption at scale, our fantastic partnerships, and our continued technology leadership. All of our automaker partnerships continue apace, and the dozens of new electric vehicle models coming to market in combination with the expansion of access to charging for NACS and CCS vehicles will help take us even closer to making our vision of Electric for All a reality. "

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since 2019, EVgo has purchased renewable energy certificates to match the electricity that powers its network. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network includes around 900 fast charging locations, 60 metropolitan areas and 30 states. EVgo continues to add more DC fast charging locations across the U.S., including stations built through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.

[WeTheMarket]

Quote: "EVgo fast chargers are compatible with all fast charge capable EV models currently on the market, including Tesla Models S/3/X/Y (with a CHAdeMO adapter), Nissan LEAF, Chevrolet Bolt, BMW i3, Jaguar iPace, Kia Niro EV, Hyundai Kona, Audi e-Tron, Porsche Taycan, Honda Clarity, and many others."
Source: https://www.evgo.com/ev-drivers/

[DBS]

Great buy! Agreed. Missed those 3.60's. :(

[WeTheMarket]

Repost from Stocktwits.

[GorillaDaddy]

bought 3.65 They really want to short this damn thing. I'll be here. 3.84 showed a little relief for me.

[DBS]

GM will be using Tesla's network of superchargers. Chargepoint, Blink and EVGO are all down because of it.

[Scotttrader80]

so Tesla GM merger has EVGO tanking today? How does that make any sense

[GorillaDaddy]

Snagged 3.92 this AM - I have more powered but would like to see where this goes now -- Did not expect a drop like that at all. TSLA can lead but it wont be the only charging station coin the industry. If EVGO can get the NACS in place on good throughput, we're golden pony boy! EVGO

[Scotttrader80]

nah, that was last week,

[GorillaDaddy]

How we doing gents? Going to try to pad sub $4 today.

[DBS]

Nice! :)

[DBS]

I hear ya with the OTC. Goodness, it's been brutal for a lot of tickers over there. I'm down myself with a few Uranium tickers even though Spot Uranium is up nicely. Go figure...

You're right though, I think this will make a strong recovery in time.

GL

[GorillaDaddy]

Couldn’t swing that much the last few days as I’m in some badly beaten OTCs — BUT I am full. I will ya’ll at $8-9 and unload have for free shares — would love fast momentum to 10-12 but that will take time

$EVGO

[DBS]

I only have 3k shares, but love the article just the same! :)

[Scotttrader80]

Insiders Pour Millions Into These 2 Beaten-Down Stocks, Analysts Say They Could Be Ready to Bounce Back — Here’s Why You Should Pay Attention

https://finance.yahoo.com/news/insiders-pour-millions-2-beaten-223955131.html

[sharky]

3 EV Charging Stocks to Buy for Explosive Growth
Not all EV charging stocks are created equal

https://investorplace.com/2023/05/3-ev-charging-stocks-to-buy-for-explosive-growth/


$EVGO

[GorillaDaddy]

Snagged 130 shares today.

Thinking of another 100 but I probably should wait so I don’t over trade.

We are sub the 4.25 price too so that’s great!

[WeTheMarket]

EVgo Announces Addition of Two New Board Members, Paul Segal and Jonathan Seelig
May 22 2023
https://www.businesswire.com/news/home/20230522005696/en/

Additions of seasoned executives with finance and technology backgrounds further strengthens Board of Directors with deep sector expertise

EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced the election of Paul Segal and Jonathan Seelig as Class II directors at the Company’s 2023 annual meeting of stockholders. Both directors’ terms expire at the 2026 annual meeting of stockholders.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230522005696/en/


Paul Segal and Jonathan Seelig (Photo: Business Wire)

Paul Segal has served as Chief Executive Officer of LS Power since 2011. He is also a member of LS Power’s Management Committee, overseeing one of the largest independent power and transmission developers in the U.S. Prior to his appointment as Chief Executive Officer, Mr. Segal oversaw LS Power’s asset management and renewables development activities. Before joining LS Power, in 2002 Mr. Segal founded Luminus Management, a hedge fund that invested across the capital structure of publicly traded power, energy, utility and related companies, and served as its President and Portfolio Manager until 2011. Mr. Segal began his career at Smith Barney as a generalist in the Mergers and Acquisitions Investment Banking group. He graduated with highest honors from the Rutgers College of Engineering with a B.S. in Biochemical Engineering. Mr. Segal currently serves as a member of the Mount Sinai Department of Medicine Advisory Board, the Weill Cornell Medicine Dean’s Council, the board of the Digestive Disease Research Foundation, and the Advisory Board of the NYU Law School’s Institute for Policy Integrity.

Jonathan Seelig has been a technology industry founder, operator and investor for over 25 years. He co-founded Ridge, a cloud computing platform, in October 2018 and served as its CEO from October 2018 to October 2021 and as its Chairman from October 2021 to the present. Mr. Seelig co-founded Akamai Technologies, Inc., a content delivery network, cybersecurity and cloud service company, in 1997, and has held leadership or investment roles in dozens of early-stage companies in the technology and transportation sectors. These roles have included director of Zipcar, a car sharing company, from 2001 to 2010 (Chairman from 2003-2010), director of Zagster, a designer, builder and operator of bike sharing programs, from January 2017 to September 2019, and director of Zoom Telephonics, a creator of cable modems and other internet access products, from May 2019 until December 2020. Mr. Seelig received a Bachelor of Science from Stanford University. In addition to serving on EVgo’s Board of Directors (the “Board”), Mr. Seelig will also serve as Chair of the Board’s Nominating and Governance Committee and as a member of both the Audit Committee and Compensation Committee.

“We are thrilled to welcome Paul and Jonathan to the EVgo Board,” said Cathy Zoi, CEO of EVgo. “Their leadership, industry and finance experience will be invaluable to EVgo during this period of tremendous growth for the EV industry and for EVgo.”

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since 2019 EVgo has purchased renewable energy certificates to match the electricity that powers its network. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network includes around 900 fast charging locations, 60 metropolitan areas and 30 states. EVgo continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.

For Investors:
[e-mail]

For Media:
[e-mail]

[DBS]

Agreed

[Scotttrader80]

EVGO is the only charging company with fast chargers getting someone in and out in 2 hours. I think we have 1100 units out there, barely a smidgeon as the EV wars begin

[DBS]

Agreed brother!

[GorillaDaddy]

Soaking these up with you. When EV makes its way, we will be sitting nicely.

[DBS]

And... Qtr Revenue of $25.3M is +228.6% Y/Y. I couldn't help myself so I added another 2k at $3.88. I think it's a no-brainer at these levels.

[sharky]

As of early 2023, EVgo operates more than 850 charging stations in over 60 metropolitan areas across more than 30 states.



$EVGO

[DBS]

Agreed! Took a starter at 3.98 just now. :)

[sharky]

25.12 RSI oversold


$EVGO