SAN FRANCISCO, Aug. 3, 2021 /PRNewswire/ -- Volta Industries,
Inc. ("Volta Charging"), an industry leader in commerce-centric
electric vehicle ("EV") charging networks, which has entered into a
definitive agreement for a business combination with Tortoise
Acquisition Corp. II (NYSE: SNPR), announced today that it intends
to expand operations into the European Union with the opening of an
office in Germany.
Founded on the premise that the electrification of mobility is
likely to be a transformational shift, Volta Charging builds and
operates a nationwide EV charging network that is among the best
utilization per station in the EV charging industry for
the United States. Centered around
capturing new spending habits expected to result from the shift to
electric vehicles, Volta Charging seeks to transform the fueling
industry by building open-network charging stations in locations
where drivers already spend their time and money, including grocery
stores, pharmacies and other retail locations.
Volta Charging's unique charging stations – which feature large,
eye-catching digital displays – provide an optimal content viewing
experience for both the drivers who plug their vehicles into the
stations and the customers who shop at nearby retailers. Volta
Charging's media-enabled charging stations offer brands a dynamic
content experience platform, including activation and engagement
opportunities. Brands running campaigns on Volta Charging's
stations report experiencing positive results in brand awareness
and increased purchase intent.
"Our goal is to offer the same convenient, reliable and open
infrastructure for European drivers as we do here in the United States," said Scott Mercer, Founder and CEO of Volta Charging.
"We think the time is right to introduce our model in the EU -
enabling us to develop a forward-thinking charging network across
Europe that is uniquely commerce
aligned. American business partners who have already chosen to
install Volta Charging stations on site report increases in spend,
dwell time and engagement on site."
About Volta Charging
Volta Charging is an industry
leader in commerce-centric EV charging networks. Volta Charging'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 drivers'
daily routines, Volta Charging's goal is to benefit consumers,
brands and real-estate locations while helping to build the
infrastructure of the future. As part of Volta Charging's
unique EV charging offering, its stations allow it to enhance its
site hosts' and strategic partners' core commercial interests,
creating a new means for them to benefit from the transformative
shift to electric mobility. To learn more,
visit www.voltacharging.com.
In February 2021, Volta Charging
and Tortoise Acquisition Corp. II (NYSE: SNPR) ("TortoiseCorp II"),
a publicly traded special purpose acquisition company with a
strategic focus on energy sustainability and decarbonizing
transportation, announced they entered into a business combination
agreement. TortoiseCorp II has announced an extraordinary general
meeting of shareholders to approve the business combination which
will be held on Wednesday, August 25, 2021 at 11:00 AM Eastern time. The extraordinary general
meeting will be held in person at the offices of Vinson &
Elkins L.L.P., located at 1114 Avenue of the Americas, 32nd Floor,
New York, NY 10036 and virtually
via live webcast. Holders of TortoiseCorp II's Class A ordinary
shares and Class B ordinary shares at the close of business on the
record date of July 15, 2021 are
entitled to notice of the extraordinary general meeting and to vote
at the extraordinary general meeting. Upon the closing of the
transaction, which remains subject to customary closing conditions,
the combined entity will be named Volta Inc. and remain on the New
York Stock Exchange under the new ticker symbol "VLTA".
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended (the "Securities Act"), and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other
than statements of present or historical fact included in this
press release, regarding TortoiseCorp II's proposed acquisition of
Volta Charging and TortoiseCorp II's ability to consummate the
transaction are forward-looking statements. When used in this press
release, the words "could," "should," "will," "may," "believe,"
"anticipate," "intend," "estimate," "expect," "project," the
negative of such terms and other similar expressions are intended
to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on management's current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law,
TortoiseCorp II disclaims any duty to update any forward-looking
statements, all of which are expressly qualified by the statements
in this section, to reflect events or circumstances after the date
of this press release. TortoiseCorp II cautions you that these
forward-looking statements are subject to numerous risks and
uncertainties, most of which are difficult to predict and many of
which are beyond the control of TortoiseCorp II. In addition,
TortoiseCorp II cautions you that the forward-looking statements
contained in this press release are subject to the following
factors: (i) the occurrence of any event, change or other
circumstances that could delay the business combination or give
rise to the termination of the agreements related thereto; (ii) the
outcome of any legal proceedings that may be instituted against
TortoiseCorp II or Volta Charging; (iii) the inability to complete
the business combination due to the failure to obtain approval of
the shareholders of TortoiseCorp II, or other conditions to closing
in the transaction agreement; (iv) the risk that the proposed
business combination disrupts TortoiseCorp II's or Volta Charging's
current plans and operations; (v) Volta Charging's ability to
realize the anticipated benefits of the business combination, which
may be affected by, among other things, competition and the ability
of Volta Charging to grow and manage growth profitably following
the business combination; (vi) costs related to the business
combination; (vii) changes in applicable laws or regulations; and
(viii) the possibility that Volta Charging may be adversely
affected by other economic, business, and/or competitive factors.
Should one or more of the risks or uncertainties described in this
press release, or should underlying assumptions prove incorrect,
actual results and plans could different materially from those
expressed in any forward-looking statements. Additional information
concerning these and other factors that may impact the operations
and financial results of TortoiseCorp II and Volta Charging can be
found in TortoiseCorp II's periodic filings with the SEC, including
TortoiseCorp II's Annual Report on Form 10-K/A for the year ended
December 31, 2020 filed with the SEC
on May 6, 2021 and Quarterly Report
on Form 10-Q for the three months ended March 31, 2021 filed with the SEC on May 19, 2021, as well as TortoiseCorp II's
definitive proxy statement/prospectus filed with the SEC on
August 2, 2021. TortoiseCorp II's SEC
filings are available publicly on the SEC's website at
www.sec.gov.
No Offer or Solicitation
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or constitute a
solicitation of any vote or approval.
Important Information for Investors and Shareholders
In connection with the pending business combination,
TortoiseCorp II filed the registration statement on Form S-4 (the
"Registration Statement"), which includes the proxy
statement/prospectus. The Registration Statement has been declared
effective by the SEC and the definitive proxy statement/prospectus
is being mailed to TortoiseCorp II's shareholders. The definitive
proxy statement/prospectus is also available on the Investor
Information section of TortoiseCorp II's website at
www.tortoisespac.com, as well as www.sec.gov. TortoiseCorp II
shareholders are encouraged to read the definitive proxy
statement/prospectus, including, among other things, the reasons
for TortoiseCorp II's Board of Directors' unanimous recommendation
that shareholders vote "FOR" the business combination and the other
shareholder proposals set forth therein as well as the background
of the process that led to the pending business combination with
Volta Charging.
Participants in the Solicitation
TortoiseCorp II and its directors and officers may be deemed
participants in the solicitation of proxies of TortoiseCorp II's
shareholders in connection with the pending business combination.
Security holders may obtain more detailed information regarding the
names, affiliations and interests of certain of TortoiseCorp II's
executive officers and directors in the solicitation by reading
TortoiseCorp II's Annual Report on Form 10-K for the fiscal year
ended December 31, 2020, as amended,
the definitive proxy statement/prospectus and other relevant
materials filed with the SEC in connection with the pending
business combination when they become available. Information
concerning the interests of TortoiseCorp II's participants in the
solicitation, which may, in some cases, be different than those of
their shareholders generally, are set forth in the definitive proxy
statement/prospectus.
View original
content:https://www.prnewswire.com/news-releases/volta-charging-announces-intent-to-expand-in-europe-301346559.html
SOURCE Volta Inc.
