The United States on Thursday offered EVgo a conditional loan guarantee of up to $1.05 billion to expand public electric vehicle-charging infrastructure across the country, some of which in marginalized urban communities.

Since the federal government is already spending billions on a network of DC fast chargers along highway corridors, EVgo is instead focusing on creating community charging stations, particularly in areas with a high density of multifamily developments and other communities where EV drivers have to rely on public chargers.

EVgo Inc. has received a conditional commitment for a loan guarantee of up to $1.05 billion of debt financing, from the U.S. Department of Energy (DOE)

EVgo has received a conditional commitment from the Department of Energy for a $1.05 billion loan. The low-cost financing would enable the company to build approximately 7,500 new charging stalls across the country.

Financial assistance to help utility giant Constellation Energy restart a nuclear unit at Three Mile Island is also under consideration, according to The Washington Post.

EVgo got a $1.1 billion loan commitment from the DOE. Here's what the Los Angeles EV-charging company will use the money for.