Volta Collaboration Awarded ARPA-E Funding to Commercialize Next Generation Fast Charging Technology Aligned With Bipartisan Infrastructure Law
November 23 2022 - 8:00AM
Business Wire
Grant tied to the development and
commercialization of advanced technology for more affordable and
efficient EV chargers to support the rapid transition to EVs
Volta’s PredictEV® infrastructure planning tool
and other proprietary software will optimize charging site
selection, vehicle-grid interaction, and driver interface
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.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20221123005149/en/
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:
- Scalable Chargers: The project will utilize Imagen’s
flexible, high-efficiency silicon carbide-based (SiC) power
conversion platform to produce compact charging cabinets that
enable affordable, easier-to-install, and highly reliable
high-power fast chargers capable of charging multiple EVs
simultaneously and being deployed in a market quickly. The flexible
platform is expected to facilitate optional, convenient integration
with energy storage and renewable energy, and supports
vehicle-to-grid integration.
- BIL-compliance: Equipment is being engineered to deliver
at least 150kW and be manufactured in the United States to comply
with the Bipartisan Infrastructure Law’s (BIL) requirements. The
technology will also fulfill network connectivity requirements,
including Plug and Charge capabilities and communication through
the Open Charge Point Protocol (OCPP) and Open Charge Point
Interface protocol (OCPI), building upon Volta’s existing software
implementation to allow flexible integration with roaming charging
partners.
- Visibility & Access: Volta will leverage its
patented, award-winning PredictEV infrastructure planning software
to identify optimal sites for effective piloting and initial
deployment based on local EV ownership, mobility trends,
demographics, and income levels. With more than 3,000 stalls
currently installed, many within disadvantaged communities, and
numerous existing relationships with leading retail and commercial
properties, Volta’s EV charging network will enable quick feedback
loops during the testing phase.
“Imagen relies on commercialization partners like Volta to
accelerate the deployment of our high power density, silicon
carbide-based power conversion platforms,” said Ezana Mekonnen,
Chief Technology Officer at Imagen. “The combination of Volta’s
advanced PredictEV planning tool and the company’s existing
charging network creates the ideal environment for quickly
developing reliable, affordable, and efficient charging solutions
that will support the rapid transition to electric mobility.”
“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.”
About Volta
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.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of federal securities laws. These
forward-looking statements generally are identified by words such
as “anticipate,” “believe,” “estimate,” “expect,” “future,”
“intend,” “may,” “opportunity,” “plan,” “potential,” “project,”
“should,” “strategy,” “will,” “would,” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to the factors, risks and
uncertainties included in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2021 and our subsequent Quarterly
Reports on Form 10-Q, as such factors may be updated from time to
time in our other filings with the Securities and Exchange
Commission (the "SEC"), accessible on the SEC’s website at
www.sec.gov and the Investor Relations section of our website at
www.voltacharging.com. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and, except as
required by law, we assume no obligation and do not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221123005149/en/
Jette Speights jette@voltacharging.com
Volta (NYSE:VLTA)
Historical Stock Chart
From Jul 2024 to Aug 2024
Volta (NYSE:VLTA)
Historical Stock Chart
From Aug 2023 to Aug 2024