NewQ1 2026 Clean Energy Deal Intelligence Report is live
M&AClosedAugust 26, 2021

Volta Inc. — commerce-centric EV charging network (1,700+ chargers, 24 territories)

Volta completed business combination with Tortoise Acquisition Corp. II; trading on NYSE as VLTA Aug 27, 2021. 70% redemption rate at the SPAC closing — early sign of cooling SPAC market. ~$600M anticipated net proceeds incl. $300M PIPE. Volta later sold to Shell (March 2023) for ~1/10 of original valuation.

$1.40B

Deal Value

EV

Technology

CA

Location

Deal Details

Deal Type
SPAC Merger
Seller / Sponsor
Volta Industries Inc.
Deal Value
$1.4B (pro forma EV)
Stage
Operating
ISO/RTO
CAISO

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