EVgo Inc. (Nasdaq:EVGO), the U.S. fast-charging network for electric vehicles (EVs), has acquired Recargo, a leading e-mobility software company for $25 million. The transaction combines EVgo’s public charging infrastructure and Recargo’s leadership in EV innovation on app development, market research, data licensing, reporting, and advertising.
Founded in 2009, Recargo has established itself as a EV first mover, including building PlugShare, the world’s largest EV community, with an estimated 3 million unique driver app downloads worldwide.
By crowdsourcing data and insights, PlugShare has created a census of public charging through over 52,000 public charging locations and over 133,000 chargers covered in the U.S. alone.
Nick Wild, CEO of Recargo, will continue to serve as President and CEO of the wholly-owned subsidiary under EVgo.
Cathy Zoi, CEO of EVgo, says: “At EVgo, we have a relentless commitment to growing the EV driver base and enhancing the customer experience. The Recargo team shares that same commitment, developing innovative software to improve the charging experience. Recargo’s PlugShare platform has become the go-to mobile app for EV drivers. EVgo and Recargo’s combined software expertise will make driving an EV and charging it even easier — and more delightful. Together, we will extend and accelerate the reach of our business while continuing to shape the future of EV charging.”
Nick Wild, President and CEO of Recargo, adds: “EVgo and Recargo have a long history of partnering to enhance the driver experience. The entire Recargo team is excited to have the opportunity to further accelerate our growth as part of the EVgo family. PlugShare has been the first and most trusted choice for EV drivers looking for information on public charging, and we are thrilled that the EVgo team is committed to the continued independence of our PlugScore system, increasing transparency and supporting broad interoperability and neutrality.”
With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 65 metropolitan areas across 34 states and more than 250,000 customers.