EVgo has successfully secured a $1.25 billion guaranteed loan facility from the U.S. Department of Energy. This funding is intended to support the company's initiative to build 7,500 DC fast chargers across the country. The announcement has led to a positive market response, with EVgo's stock rising by 10.9% in pre-market trading. The loan comes amid the Biden administration's efforts to accelerate clean energy investments, which has positioned EVgo favorably on JPMorgan's top pick list for investments in the sector.