Revel, the Brooklyn-based electric mobility startup, has secured a $60 million loan from New York State to expand its electric vehicle charging infrastructure. This funding will enable Revel to build 267 EV chargers across nine sites, including locations near John F. Kennedy and LaGuardia Airports, as well as a large 60-stall site in Queens.
The investment from New York State comes at a crucial time as the federal government’s support for EV infrastructure has faced challenges. With the Trump administration’s attempts to limit funding for EV charging programs, states like New York are stepping up to support the transition to electric vehicles.
Revel’s CEO, Frank Reig, highlighted the importance of local and state-level support in driving the adoption of electric vehicles. He emphasized that despite uncertainties at the federal level, Revel’s focus remains on areas with favorable conditions for electrification.
The $60 million loan from the New York Green Bank marks a significant milestone for Revel, as it is the Green Bank’s first investment in EV charging infrastructure. This funding will go a long way in improving access to public DC fast chargers in New York City, with plans to activate 178 of the 267 charging stalls within the next 12 months.
Revel has positioned itself as a leader in EV charging in New York City, where owning an electric car can be challenging due to limited access to charging infrastructure. The company’s expansion plans include opening several sites in the San Francisco Bay Area this year, further solidifying its presence in the electric mobility space.
Overall, Revel’s partnership with New York State demonstrates a commitment to sustainable transportation and the transition to electric vehicles. By investing in EV charging infrastructure, Revel is not only expanding its business but also contributing to the growth of electric mobility in urban environments.