Volta Charging, LLC
NYSE: VLTA
IndustryElectric vehicle infrastructure
Founded2010 (2010) in Hawaii
Founders
  • Scott Mercer
  • Chris Wendel
Headquarters155 de Haro Street,
San Francisco, California
,
United States
Key people
Vince Cubbage
(Interim CEO)
Brandt Hastings
(Chief Commercial Officer)
Drew Lipsher
(Chief Development Officer)
Francois Chadwick
(Chief Financial Officer)
Parent
  • Independent (2010–23)
  • Shell (2023–present)
Websitevoltacharging.com

Volta Charging is an American electric vehicle infrastructure company. As of September 2021, the company had installed more than 2,000 charging stations in twenty-three U.S. states.[1]

Volta charging stations are compatible with all major plug-in hybrid and battery electric vehicle types in the United States and have a digital screen featuring advertisements. Generally, charging a vehicle at a Volta station is free, because Volta is supported by advertisements.[2]

On March 31, 2023, Shell USA acquired the company for approximately $169 million.[3]

History

Volta Charging was founded in Hawaii in 2010 by Scott Mercer and Chris Wendel.[1][4][5] Leonardo DiCaprio was an early investor in the company.[6][7][8]

Volta charging station in Boca Raton, Florida

In February 2021, it announced a special-purpose acquisition company merger with Tortoise Acquisition Company II.[9] After completing the merger, Volta went public on the New York Stock Exchange on August 27, 2021.[9][10]

By September 2021, the company had installed more than 2,000 charging stations in twenty-three U.S. states.[1] In November, Volta partnered with Topgolf to install charging stations at Topgolf entertainment centers across the United States.[11]

In the third financial quarter of 2021, Volta's revenues increased 77 percent year-over-year to $8.5 million.[7] In March 2023 the company was acquired by Shell USA in an all-cash deal.[12]

See also

References

  1. 1 2 3 McInnis, Brian (September 3, 2021). "Former Hawaii startup Volta Charging goes public". Pacific Business News. Retrieved 11 January 2022.
  2. ↑ Kolodny, Lora (August 18, 2021). "Tesla, Volta are EV owners' top picks for charging away from home, JD Power finds". CNBC. Retrieved 6 January 2022.
  3. ↑ "Shell USA, Inc. Finalizes Acquisition of Volta Inc., Scaling up its U.S. Public Electric Vehicle Charging Network". Shell. Retrieved 2023-07-26.
  4. ↑ "Volta founder on strategies for electric vehicle charging stations". Yahoo! News. August 9, 2021. Retrieved 11 January 2022.
  5. ↑ "Scott Mercer Chairman/CEO, Volta Inc". Bloomberg. Retrieved 11 January 2022.
  6. ↑ Strauss, Sabrina (October 28, 2021). "Volta Delivers 100 Million Electric Miles to Drivers". Business Wire. Retrieved 11 January 2022.
  7. 1 2 Moadel, David (December 5, 2021). "Speculators can Charge Up their Portfolios with Volta Stock". Nasdaq. Retrieved 11 January 2022.
  8. ↑ Leonardo DiCaprio [@LeoDiCaprio] (October 28, 2021). "We must move beyond a carbon based economy to prevent irreversible climate change. Pleased to work with @VoltaCharging who has delivered 100 million electric miles to EV drivers across the U.S. #VoltaPartner" (Tweet) – via Twitter.
  9. 1 2 Jasinski, Nicholas (August 27, 2021). "EV Charging Firm Volta Is Going Public But Raising Less Money Than Expected". Barron's. Retrieved 6 January 2022.
  10. ↑ "Volta Charging to List on NYSE Under the Ticker "VLTA" Following Closing of Business Combination With Tortoise Acquisition Corp. II". Business Wire. August 26, 2021. Retrieved 11 January 2022.
  11. ↑ Strauss, Sabrina (November 2, 2021). "Topgolf Partners With Volta to Add Electric Vehicle Charging Stations to Select Properties". Yahoo! News. Retrieved 11 January 2022.
  12. ↑ "Shell Dramatically Expands Its Network of EV Charging Stations". Car and Driver. April 1, 2023.
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