Yahoo Finance VoltaGrid Closes USD $100 Million Equity Raise
HOUSTON, Dec. 20, 2021 (GLOBE NEWSWIRE) -- VoltaGrid LLC (“VoltaGrid” or the “Company”) today announced the closing of an equity raise of $100 million USD ($127.2 million CAD) that includes strategic, follow-on investments from Canada Pension Plan Investment Board (“CPP Investments”), Longbow Capital, Pilot Company, and Walter Ventures.
VoltaGrid was founded in 2020 by a seasoned energy-service team to provide innovative electric power solutions that increase reliability and reduce emissions for pressure pumping, remote mining, utility and distributed generation applications. The Company’s proven platform continues to make a meaningful contribution to decarbonization while providing turnkey micro-grids that consist of high-efficiency natural gas engines, large scale portable energy storage, natural gas processing solutions and grid power connectivity.
“We continue to be excited about partnering with these leading ESG-focused capital providers while executing our mandate across multiple sectors,” said Nathan Ough, VoltaGrid’s Chief Executive Officer. “By capitalizing on our proven technology, we will continue to provide pressure pumping companies a more efficient electrification solution to deliver improved ESG performance for operators.”
“Longbow continues to be a long-term supporter of the VoltaGrid team and the work that the company has completed to engineer, develop and execute their next generation low carbon, industrial scale, remote power generation strategy. VoltaGrid’s strong customer relationships, track record of execution and commitment to providing decarbonization solutions to multiple end users enables their customers to make profitable business decisions while also meeting their ESG goals,” said Tyson Birchall, Managing Director, Longbow Capital.
VoltaGrid is currently executing on a significant growth plan across North America including the launch of its grid reinforcement business in the ERCOT market and gas services business. The company continues to foster long term partnerships with key organizations that are focused on reducing their carbon footprint and future capital requirements.
Pilot Company Vice President of Business Development and Strategy John Tully said, “VoltaGrid is a partner to Pilot that aligns with our efforts to serve the energy, fuel and trucking industries. The Company’s focus on providing best in class environmental solutions through new technology and engineering while putting safety first aligns with Pilot’s corporate goals of benefiting our team members, stakeholders and customers.”
About VoltaGrid
VoltaGrid is an advanced energy management and generation company that has developed an innovative platform to provide power, energy storage and emissions reductions for the pressure pumping, remote mining, utility, and distributed generation industries. VoltaGrid’s fully integrated artificial intelligence platform provides live emissions tracking, asset carbon intensity, automated back-office management and ESG reporting on a centralized database.
For more information contact:
Nathan Ough
President & CEO
VoltaGrid LLC
E: Nathan.Ough@VoltaGrid.com
Robert Norris
Chief Financial Officer
VoltaGrid LLC
E: Robert.Norris@VoltaGrid.com
