- 20 Jan
Shell acquires EV charger network
company Volta Inc.
As reported in CStoreDecisions here, Shell has acquired Volta Inc. The transaction is for $169 million in cash.
In a Convenience Store News article about this transaction found here, Volta’s assets include an existing public EV charging network of more than 3,000 charge points at destination sites — such as shopping centers, grocery stores and pharmacies — across 31 U.S. states and territories, as well as a development pipeline of more than 3,400 additional charge points and capabilities to continue developing, operating and monetizing EV charging infrastructure. Beyond providing a charging service, Volta also specializes in generating advertising revenues from screens embedded into the charge point.
On Volta’s website is a press release from June 2022 where Volta announced a collaboration with The Kroger Co. to bring a mix of DC Fast and Level 2 Volta charging stations to Kroger customers nationwide. According to their website “Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop, and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into people’s daily routines, Volta’s goal is to benefit consumers, brands, and real-estate locations while helping to build the infrastructure of the future.”