NY Green Bank, a New York State Energy Research and Development Authority division and the state’s clean energy investment fund, recently provided Revel, the largest provider of public electric vehicle (EV) fast-charging in New York City, with a $60 million loan to accelerate EV charging infrastructure deployment.
The loan will enable the company to more than triple the size of its current public fast charging network this year.
“For the past few years, Revel has been preparing a strategic portfolio of the most lucrative fast-charging locations in New York City,” Frank Reig, Revel co-founder and CEO, said. “These sites are now shovel-ready. With the critical support from NY Green Bank, we are ready to take New York’s EV economy to the next level with a fast-charging network rivaling any other top tier city.”
Revel will build 267 new charging stalls at nine sites. The company expects to complete 178 installations over the next 12 months. The remainder is expected to be completed next year.
This year’s installations include 20 charging stalls in the Port Morris section of the Bronx; 24 charging stalls at John F. Kennedy International Airport; 30 charging stalls in Greenpoint, Brooklyn; 44 charging stalls near LaGuardia Airport; and 60 charging stalls in Maspeth, Queens – the largest fast-charging station in the Northeast.