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The grant is related 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-network interaction and driver interface
NEW YORK, November 23, 2022—(BUSINESS WIRE)–Volta Inc. (NYSE: VLTA) (“Volta”), a leading electric vehicle (EV) charging company and media company, today announced that a project application on which it has collaborated with Imagen Energi, LLC (“Imagen”), a manufacturer of compact chargers for high-powered electric vehicles, received a grant from the US Department of Energy’s Advanced Research Projects Agency (ARPA-E). The project seeks to develop and commercialize the next generation of domestic DC fast charging (DCFC) technology in support of the federal government’s clean energy and climate priorities.
This press release contains multimedia. See the full press release here: https://vvv.businessvire.com/nevs/home/20221123005149/en/
Volta Collaboration awarded ARPA-E funding to commercialize next-generation fast charging technology aligned with bipartisan infrastructure bill (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 in the country. Selected SCALEUPs demonstrate a viable path to commercial implementation and the ability to attract private sector investment.
Through this project, Imagen and Volta aim to develop and commercialize chargers that are more flexible, powerful and affordable by focusing on:
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Scalable chargers: The project will use Imagen’s flexible, high-efficiency silicon carbide (SiC)-based power conversion platform to manufacture compact charging cabinets that enable affordable, easier-to-install and highly reliable high-power fast chargers that can simultaneously charge multiple electric vehicles and they are quickly implemented in the market. The flexible platform is expected to facilitate optional, practical integration with energy storage and renewable energy, and supports vehicle grid integration.
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Compliance with BIL: The equipment is designed to deliver at least 150 kV and manufactured in the United States to comply with Bipartisan Infrastructure Act (BIL) requirements. The technology will also meet network connectivity requirements, including Plug and Charge capabilities and communication via the Open Charge Point Protocol (OCPP) and Open Charge Point Interface protocol (OCPI), building on existing Volta software implementations to enable flexible integration with roaming partners for charging.
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Visibility and access: Volta will use its patented, award-winning PredictEV infrastructure planning software to identify optimal locations 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 in disadvantaged communities, and numerous existing relationships with leading retail and commercial establishments, Volta’s EV charging network will enable rapid feedback during the testing phase.
“Imagen relies on commercialization partners like Volta to accelerate the deployment of our silicon carbide-based high power density energy conversion platforms,” said Ezanna Mekonnen, Chief Technology Officer at Imagen. “The combination of Volta’s advanced planning tool PredictEV and the company’s existing charging network creates an ideal environment for the rapid development of 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 capital we are currently raising, it is a testament to Volta’s ability to align our business with the federal government’s priorities,” said Vince Cubbage, Volta’s interim CEO. “Volta’s collaboration with Imagen on this winning ARPA-E application demonstrates our commitment to supporting solutions that comply with the bipartisan infrastructure bill, ensuring that implementation can be done in a capital-efficient manner.”
About Volta
Volta Inc. (NISE: VLTA) is a leading electric vehicle (“EV”) charging company and media company. Volta’s unique network of charging stations powers vehicles and fuels business growth while accelerating a clean energy future. Volta provides value to location partners, brands and consumers by installing charging stations that feature large-format digital advertising displays located steps from the entrance to popular commercial locations. Retailers can attract and influence traffic, advertisers can precisely target audiences, and electric vehicle drivers can seamlessly charge their vehicles while going about their daily routines. Volta’s extensive network uses its proprietary PredictEV® platform, which uses sophisticated behavioral science and machine learning technology to help commercial real estate owners, cities and utilities plan EV infrastructure intelligently, efficiently and fairly. 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 are generally 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-K, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (“SEC”), available at 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 place undue reliance on forward-looking statements, and, except as required by law, we undertake 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. .
See the original version on businesswire.com: https://www.businessvire.com/nevs/home/20221123005149/en/
Contacts
Jette Speights
jette@voltacharging.com
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