Volta Collaboration Awarded ARPA-E Funding to Commercialize Next Generation Fast Charging Technology Aligned With Bipartisan Infrastructure Law
Volta Inc. (NYSE: VLTA) ("Volta"), an industry-leading electric vehicle (EV) charging and media company, today announced that a project application it collaborated on with Imagen Energy, LLC ("Imagen"), a developer of compact high-power EV chargers, was awarded a grant from the U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E). The project seeks to develop and commercialize the next generation of domestically manufactured DC Fast Charging (DCFC) technology in support of the federal government's clean energy and climate priorities.
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Volta Collaboration Awarded ARPA-E Funding To Commercialize Next Generation Fast Charging Technology Aligned With Bipartisan Infrastructure Law (Photo: Business Wire)
The grant is part of the ARPA-E Seeding Critical Advances for Leading Energy technologies with Untapped Potential (SCALEUP) program, which provides further funding to previous ARPA-E teams that have been determined to be feasible for widespread deployment and commercialization domestically. SCALEUP selectees demonstrate a viable path to commercial deployment and the ability to attract private sector investments.
Through this project, Imagen and Volta seek to develop and commercialize chargers that are more flexible, more powerful, and more affordable by focusing on:
"While this is a modest initial government grant that does not replace the need for the capital we are currently raising, it is proof of Volta's ability to align our business with the federal government's priorities," said Vince Cubbage, Interim Chief Executive Officer at Volta. "Volta's collaboration with Imagen on this winning ARPA-E application demonstrates our commitment to supporting solutions that are compliant with the Bipartisan Infrastructure Law, ensuring implementation can be done in a capital-efficient manner."
Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle ("EV") charging and media company. Volta's unique network of charging stations powers vehicles and drives business growth while accelerating a clean energy future. Volta delivers value to site partners, brands, and consumers by installing charging stations that feature large-format digital advertising screens located steps away from the entrances of popular commercial locations. Retailers can attract and influence foot traffic, advertisers can precisely target audiences, and EV drivers can charge their vehicles seamlessly as they go about their daily routines. Volta's extensive network leverages its proprietary PredictEV® platform, which uses sophisticated behavioral science and machine learning technology to help commercial property owners, cities, and electric utilities plan EV infrastructure intelligently, efficiently, and equitably. To learn more, visit www.voltacharging.com.
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