Revel Secures $60M in NY State Funding to Expand Electric Vehicle Charger Network

As the conversation around electric vehicles (EVs) intensifies, recent developments in EV charging infrastructure are crucial for supporting the transition to cleaner transportation. In a bold move, Revel, an EV charging infrastructure startup, has secured funding to expand its network significantly in New York City.

Revel’s $60 Million Loan from NY Green Bank

On Monday, Revel announced it has obtained a $60 million loan from NY Green Bank, marking the first investment by this clean energy fund into EV charging infrastructure. This funding is a clear indication of New York’s commitment to electric vehicles and signals that lenders view EV charging as a viable investment opportunity.

Expansion Plans for New York City

The funds will enable Revel to expand its public fast-charging network across nine sites in New York City, ultimately adding 267 new fast-charging stalls by 2027. Over the next year, the company plans to complete five charging locations, featuring approximately 158 stalls. This includes a notable site at John F. Kennedy Airport and additional locations in Queens, Brooklyn, and the Bronx.

Key Features of the Upcoming Charging Stations

• JFK Charging Station: Groundbreaking occurred in November, with an expected opening in the first quarter of 2025.
• Location: Positioned near areas where ride-hail drivers congregate.
• Maspeth, Queens: This site will feature 60 stalls, potentially making it one of the largest public charging stations in the country.

New York Governor Kathy Hochul emphasized the importance of expanding electric vehicle infrastructure, stating, “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.”

New York’s Commitment to Zero Emissions

In line with its environmental goals, New York state has mandated that all new sales or leases of light-duty passenger vehicles must be zero-emission by 2035. This legislation underscores the urgency to develop robust EV infrastructure.

Revel’s Expansion Beyond New York

Beyond New York, Revel is also targeting growth in California. A company spokesperson revealed plans to raise additional equity and debt for expanding its charging stations in the region. The goal is to launch multiple sites in the Bay Area this year, aiming to cater to the emerging electric robotaxi industry.

Upcoming California Charging Stations

• First Charging Station: A 12-stall site in the Mission District of San Francisco is set to open in March.
• Active Developments: Revel is working on eight active lease sites across the Bay Area, totaling 125 stalls, with target openings in 2025.
• Los Angeles Plans: The company has signed leases for two sites featuring 50 stalls, currently in the design phase.

For more insights on EV infrastructure and the latest trends in sustainable energy, visit Energy.gov.

This article has been updated to provide further details about Revel’s ambitious plans in California.