As federal funding for electric vehicle (EV) infrastructure faces uncertainty, state-level initiatives are stepping in to bridge the gap. New York-based EV charging company Revel has secured a $60 million loan from NY Green Bank to significantly expand its public fast-charging network. This investment underscores New York’s commitment to sustainable transportation and highlights the growing confidence of debt lenders in EV infrastructure as a viable investment.

A Milestone Investment in EV Charging

The $60 million loan marks a first for NY Green Bank, which has never before financed EV-charging infrastructure. This funding will allow Revel to more than triple its current charging capacity across New York City, supporting the state’s push towards cleaner mobility. The investment signals both public and private sector confidence in the long-term potential of EV infrastructure.

Expanding New York City’s Charging Network

Revel plans to use the funding to develop nine new charging locations throughout New York City. By 2027, these sites will collectively add 267 new fast-charging stalls, addressing the increasing demand for EV charging in urban areas. In the next year alone, the company aims to complete five public charging hubs featuring approximately 158 stalls, including a major site at John F. Kennedy Airport.

Strategic Locations to Serve Urban Drivers

The JFK charging site, where Revel broke ground in November, is expected to be operational in early 2025. Positioned close to ride-hailing waiting areas, it aims to cater to drivers operating within New York’s busy transportation corridors. Another upcoming station at LaGuardia Airport follows a similar strategic placement, ensuring accessibility for commercial and personal EV users.

Queens to Host One of the Nation’s Largest Charging Hubs

Among the planned locations, Revel’s Maspeth, Queens site will stand out as one of the largest public charging stations in the country. With 60 stalls, this station is designed to accommodate a high volume of users, alleviating the scarcity of urban charging options. This development aligns with New York’s broader sustainability goals, reinforcing efforts to ease the transition to electric mobility.

Government Support and Policy Alignment

Governor Kathy Hochul reaffirmed New York’s commitment to advancing EV adoption, emphasizing the importance of expanding public charging options. She noted that investments like these are essential for reducing emissions and making EV ownership more feasible, especially in urban centers. New York’s 2022 mandate requiring all new passenger vehicle sales to be zero-emission by 2035 further supports the urgency of such initiatives.

Revel’s Expansion Beyond New York

While Revel is significantly increasing its footprint in New York, the company is also eyeing new markets. A spokesperson confirmed that Revel is actively raising additional funding, including both equity and debt, to establish charging sites in California. The company plans to launch a site in the Bay Area this year, targeting the region’s growing electric vehicle and autonomous transportation sectors.

Revel’s latest funding milestone represents a crucial step in addressing New York City’s EV charging infrastructure challenges. With financial backing from NY Green Bank, the company is set to provide much-needed public charging stations, particularly in high-traffic areas. As EV adoption accelerates, investments like these will be instrumental in shaping a cleaner, more sustainable urban transportation landscape.