LS Power Acquires EVgo

Climate Change Crisis Real Impact I (CLII) Business Combination with EVgo Inc.

July 1, 2021

Energy

EVgo, the nation’s largest public fast charging network for electric vehicles, completed a business combination with Climate Change Crisis Real Impact I Acquisition Corporation (CLII) and concurrently listed on Nasdaq as EVGO. The transaction included approximately $230 million from CLII’s trust and a $400 million PIPE anchored by institutional investors (including PIMCO-affiliated funds, BlackRock, Wellington Management, Neuberger Berman and VanEck) to fund expansion of EVgo’s charging network and accelerate growth.

SK E&S Acquires EverCharge, U.S. EV Charging Solutions Provider

March 23, 2022

Energy

South Korean energy company SK E&S has acquired EverCharge, a San Francisco Bay Area–based manufacturer and operator of EV charging stations focused on multi-family, workplace and fleet deployments. The deal gives SK E&S a foothold in the U.S. EV charging market and complements its broader U.S. energy solutions investments and capabilities.

LS Power Acquires Algonquin Power & Utilities' Renewable Energy Business

January 8, 2025

Energy

LS Power completed the acquisition of Algonquin Power & Utilities Corp.’s large-scale renewable energy business on January 8, 2025. LS Power created Clearlight Energy to operate the acquired ~3,000+ MW of operating wind, solar, battery and RNG assets, while its REV Renewables unit will acquire the remaining ~6,200 MW of development projects, expanding LS Power’s utility-scale renewables and storage footprint across the United States and Canada.

EVgo Acquires Recargo (PlugShare)

July 14, 2021

Data & Analytics

EVgo Inc. (Nasdaq: EVGO) has acquired Recargo, the developer of the PlugShare app and a leading e-mobility data and software provider, for $25 million in an all-cash transaction (including $3 million loan repayment). The deal brings Recargo’s app, data services and payment capabilities into EVgo to enhance driver experience, data licensing and interoperability across charging networks and automakers.

LS Power Acquires ENGIE Services U.S. (rebranded as OPTERRA Energy Services)

June 12, 2025

Renewable Energy

LS Power has completed its acquisition of ENGIE Services U.S., which will operate under its legacy name OPTERRA Energy Services. The acquisition adds OPTERRA's energy-efficiency, renewables, storage, microgrid and operations capabilities — and nearly 300 staff — to LS Power's portfolio to expand its low-carbon and customer-facing energy solutions.

Shell USA, Inc. Acquires Volta Inc.

March 31, 2023

Energy

Shell USA, Inc., a subsidiary of Shell plc, has completed the all-cash acquisition of Volta Inc., adding Volta’s EV charging and digital out-of-home media network to Shell’s mobility business. The deal, approved by Volta stockholders and cleared by regulators, transfers Volta’s charging-and-media operations into Shell’s U.S. mobility organization.