Benzinga | Jul 14, 2021 06:31AM EDT

EVgo Acquires Recargo For $25M

EVgo Inc. (NASDAQ:EVGO), the nation's largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced that it has acquired Recargo, a leading e-mobility software company and one of the industry's most utilized sources of driver-contributed EV industry data, for $25 million in an all-cash transaction (including $3mm loan repayment). The transaction brings together two trusted EV leaders and first movers with deep technical expertise and broad customer bases, combining EVgo's national public fast charging infrastructure and Recargo's leadership in EV innovation on app development, market research, data licensing, reporting, and advertising.