hauling in cash
Houston microgrid tech company announces $150 investment
VoltaGrid, a Bellaire-based startup that specializes in distributed power generation via microgrids, has hauled in $150 million in equity funding.
Founded in 2020, VoltaGrid provides small-scale, self-contained microgrids that can operate independently of major power grids or in tandem with other microgrids. VoltaGrid’s product consists of natural gas engines, portable energy storage, natural gas processing and grid power connectivity.
Investors in the $150 million round include the Canada Pension Plan Investment Board (CPP Investments), Longbow Capital, Walter Ventures, and Pilot Company (operator of more than 800 retail and fueling locations in the U.S. and Canada). The $150 million round comes less than a year after VoltaGrid announced a $100 million round featuring the same investors.
VoltaGrid says it will spend the fresh cash to grow its power generation portfolio, along with its low-carbon fuel program in partnership with Pilot. The low-carbon platform features hydrogen and compressed natural gas.
“VoltaGrid continues to set new milestones across multiple sectors and business lines as we execute on our proven strategy with key partners,” Nathan Ough, president and CEO of VoltaGrid, says in a news release.
“Our strategy to establish one of the largest asset bases of portable generation, uniquely paired with our low-carbon fueling solutions, has significantly decreased the complexity for our partners to electrify their operations. I am thankful to our team members for the tremendous amount of work that has been contributed to create one of the largest portfolios of contracted low carbon fuels in the industry.”