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

July 1, 2021

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.

Buyers
Climate Change Crisis Real Impact I Acquisition Corporation (CLII), Private funds affiliated with Pacific Investment Management Company LLC (PIMCO), Funds and accounts managed by BlackRock, Inc., Wellington Management, Neuberger Berman Funds, VanEck Associates Corporation
Targets
EVgo Services, LLC (EVgo)
Industry
Energy
Location
California, United States
Transaction Type
Buyout

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