Governor Kathy Hochul today announced a $60 million transaction to accelerate electric vehicle (EV) charging infrastructure deployment across New York City. The loan provided by NY Green Bank (NYGB), the State’s clean energy investment fund and a division of the New York State Energy Research and Development Authority (NYSERDA), to Revel, the largest provider of public EV fast-charging in New York City, will enable Revel to more than triple its current New York City public fast charging network this year. This represents NYGB’s first EV charging infrastructure transaction and supports the expansion of investments in clean transportation to reduce greenhouse gas emissions while increasing access to critical charging infrastructure necessary for the wider adoption of EVs. 
 
“In support of the transition to a clean energy economy, it is critical that we continue to build electric vehicle infrastructure to ease the shift to EV ownership for more New Yorkers, especially those in urban areas,” Governor Hochul said. “This significant investment addresses the key need of providing electric vehicle users in New York City with much needed public charging options while reducing local emissions.” 
 
This funding will enable the construction of 267 new charging stalls across nine sites and supports the intricate construction activities involved in designing and building EV charging stations. Revel will complete construction of the below new sites in the next 12 months, with the remainder to be completed by 2027: 

• 60 charging stalls in Maspeth, Queens, that will be the largest fast-charging station in the Northeast U.S. 
• 44 charging stalls near LaGuardia Airport, making it the largest fast-charging station near an airport in the country. * 
• 24 charging stalls at John F. Kennedy International Airport (JFK); making it the largest charging station at the airport. * 
• 30 charging stalls in Greenpoint, Brooklyn. 
• 20 charging stalls in the Port Morris section of the Bronx. * 

* Located in a Disadvantaged Community (DAC) 
 
New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “NY Green Bank’s financing support for critical infrastructure that is advancing clean transportation complements NYSERDA’s efforts to drive the transition to electrification of this sector. Increasing the state’s charging capabilities is a step forward in ensuring New Yorkers can plug in and drive clean and we commend Revel’s leadership in this regard in a major hub and in high-impact locations such as major airports.” 
 
NY Green Bank President Andrew Kessler said, “NY Green Bank is pleased to share this exciting transaction that is demonstrating the viability of financing EV charging infrastructure to support the adoption of electric vehicles. The Revel transaction is an important and replicable precedent we expect will help accelerate investment in this fast-growing sector and expand access to EV charging for more New York drivers.” 
 
Revel Co-Founder and CEO Frank Reig said, “For the past few years, Revel has been preparing a strategic portfolio of the most lucrative fast-charging locations in New York City. These sites are now shovel-ready. With the critical support from NY Green Bank, we are ready to take New York’s EV economy to the next level with a fast-charging network rivaling any other top tier city.” 
 
Revel broke ground in November at JFK Airport, adjacent to the main rideshare vehicle waiting area, with support from the Port Authority of New York and New Jersey. With funding from NYGB, Revel will now be able to complete construction of the aforementioned 24 charging stalls. That site will open in Q1 2025 and is expected to be one of the most utilized charging stations in the country. 
 
State Senator Kevin Parker said, “Our goal is to leave New York State in a better condition than when we found it. If we are going to move forward with our CLCPA goals, we must transition our transportation sector to clean vehicles. We also must invest in the infrastructure needed to provide confidence, reliability, and convenience for New Yorkers. I applaud Governor Hochul, Revel, and NYSERDA for continuing to provide these opportunities with financing support through New York Green Bank.” 
 
State Senator Jeremy Cooney said, “The future of transportation is electric. Today’s investment by the NY Green Bank and NYSERDA represents our state’s continued commitment to new and emerging transportation technologies and a greener, cleaner future for New Yorkers.” 
 
Assemblymember William Magnarelli said, “I am encouraged by this announcement. Expanding our charging infrastructure is essential if New York is going to reach its zero-emission transportation goals. These additional chargers will make transitioning to an EV more convenient and reliable.” 
 
Revel charging stations are open to the public on a 24/7 basis for any make and model EV. All chargers installed at future locations will have speeds of at least 320 kilowatts (kW), which can charge an EV in as little as 15 minutes. 
 
Last year, NYGB completed another groundbreaking transaction with Inspiration Mobility—which partners with Revel—to support the deployment of nearly 400 EVs in New York City that are increasing access to clean ridesharing transportation. Over three-quarters of Revel’s pipeline projects being supported by NYGB financing are located in DACs, advancing NYGB's goal to commit a minimum of 35 percent, with a target of 40 percent, of its capital to projects benefiting DAC. 
 
As the largest state green bank in the nation, NYGB has committed more than $2.4 billion to advancing New York State’s clean energy economy for all New Yorkers. Since inception, its investments have mobilized up to $8.8 billion in project costs across technologies, with $383 million mobilized in the clean transportation sector alone. NYGB's transactions are designed for replication and adoption by the private sector, helping to animate the market and mobilize capital into underserved green sectors with a special focus on clean transportation, energy storage, and building decarbonization. 
 
More information about the Revel deal can be found in NYGB’s transaction profiles on its portfolio page. Photos and video are available upon request by contacting Revel at press@gorevel.com. 
 
New York State's Climate Agenda 
New York State's climate agenda calls for an affordable and just transition to a clean energy economy that creates family-sustaining jobs, promotes economic growth through green investments, and directs a minimum of 35 percent of the benefits to disadvantaged communities. New York is advancing a suite of efforts to achieve an emissions-free economy by 2050, including in the energy, buildings, transportation, and waste sectors.