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On Monday, EV charging startup Revel announced a $60 million loan from NY Green Bank, marking the clean energy investment fund’s first-ever backing of an EV charging infrastructure project. The move underscores New York’s growing commitment to electrifying transportation and signals that debt lenders increasingly view public EV charging networks as bankable assets.
Revel’s ambitious expansion plan will more than triple its public fast-charging network across New York City. The funding injection will facilitate the construction of nine new sites, adding a staggering 267 high-speed charging stalls by 2027. In the next 12 months alone, Revel aims to roll out five public charging hubs featuring 158 stalls strategically positioned across JFK Airport, Queens, Brooklyn, and the Bronx.
Having already broken ground at JFK in November 2024, Revel expects that site to go live in early 2025. Notably, the JFK and LaGuardia locations will be situated near ride-hailing driver waiting areas, reinforcing the company's mission to support EV adoption among gig workers. Meanwhile, the Maspeth, Queens station is set to be a game-changer, housing 60 charging stalls—positioning it as one of the U.S.'s most extensive public EV charging sites.
“In support of the transition to a clean energy economy, it is critical that we continue to build electric vehicle infrastructure to ease the shift to EV ownership for more New Yorkers, especially those in urban areas,” New York governor Kathy Hochul said in a statement. “This significant investment addresses the key need of providing electric vehicle users in New York City with much-needed public charging options while reducing local emissions.”
While New York remains a priority, Revel isn’t stopping there. The company is aggressively fundraising—both equity and debt rounds—to fuel expansion into California’s rapidly growing EV market.
Slated for a March 2025 debut, Revel’s first West Coast station—a 12-stall fast-charging hub in San Francisco’s Mission District—will serve as a critical testing ground. But that’s just the beginning. The company has already secured eight lease sites in the Bay Area, representing 125 stalls, all set for completion in 2025. Additionally, Revel has locked in two Los Angeles locations with a planned 50-stall capacity, both currently in the design phase.
Revel’s aggressive charging rollout aligns with New York State’s ambitious mandate: by 2035, all new light-duty vehicle sales and leases must be zero-emission. As demand for EV infrastructure intensifies, the company's debt-backed expansion could serve as a blueprint for public-private investment in clean energy solutions.
With federal funding at risk, states like New York are proving that bold local initiatives and forward-thinking lenders can still advance the clean energy transition.
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