SAN FRANCISCO, CA / ACCESSWIRE / May 13, 2021 / Voltus, Inc. today announces the closing of a $31 million Series C financing. The round was led by Activate Capital and included existing investors NGP Energy Technology Partners III, Prelude Ventures, and Ajax Strategies, bringing Voltus's total equity financing to date to over $65 million.
Raj Atluru, Co-founder and Managing Director at Activate Capital joins Voltus's Board of Directors alongside fellow investors Philip Deutch, Veery Maxwell, and Tim Woodward. "The serviceable addressable market for DERs is extraordinary, amounting to hundreds of thousands of megawatts of potential opportunity," says Atluru. "Voltus has built a predictable, proven, and systematic growth model anchored by a superior technology platform and an extraordinary team of experts in energy markets. We're thrilled to partner with Voltus as they help modernize and democratize our electric grid."
Voltus's cloud-based Distributed Energy Resources (DER) platform, VoltApp, helps to unlock the full potential of DERs. "VoltApp is designed to identify every dollar our customers and partners can earn from every type of DER available in every market in North America and then connects the machines to the meters to the markets to the money on a single financial transaction platform that is designed to maximize their earnings," says Gregg Dixon, Voltus CEO. With nearly 1,700 megawatts of DERs under management, Voltus's portfolio today supports energy efficiency, distributed generation, demand response, energy storage, and electric vehicle charging.
"We intend to use this round of funding to help monetize additional megawatts of DERs in wholesale markets through product partnerships in sectors with long-term electrification potential, including electric vehicles, microgrids, smart thermostats, and solar plus storage," explains Dixon. "We believe Voltus is helping to accelerate one of the biggest industry paradigm shifts in history, as the estimated $3.2 trillion of global electricity spend moves toward distributed and intelligent energy. We believe DERs are poised to deliver superior economic, reliability, and sustainability benefits, transforming the grid, and our lives, for the better."
About Voltus, Inc.
Voltus aims to be the distributed energy platform that fulfills the promise of the energy transition. Voltus represents the "potential of us" to better manage energy through simple, cost and risk-free programs for distributed energy resources. Our customers and partners generate cash by allowing us to maximize the value of these assets in wholesale energy markets. To learn more, visit www.voltus.co.
About Activate Capital
Activate Capital is a leading growth equity partner to companies building smart, sustainable systems across the energy, transportation, and industrial technology markets. The firm aims to generate best-in-class financial returns while contributing to this vision of the future by investing in entrepreneurial management teams in high growth companies using technology to make the world more efficient, intelligent, and sustainable. The partners have collectively invested over $1 billion across their target sectors, resulting in 30 successful exits through IPO and M&A.
Voltus Media Relations
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SOURCE: Voltus, Inc.