Voltus raises $225M to turn homes and batteries into power for data centres
Voltus has raised $225 million in a Series D round. The San Francisco company pays businesses and homes to cut, shift or supply power when the grid needs it. Generation Investment Management led the round, with Activate Capital and the energy trader Vitol as co-leads.
Broadscale Group, Climate Investment, NGP, Ajax Strategies and All Aboard Fund also invested. Voltus called the round oversubscribed. It did not disclose its valuation.
“Electricity is now the constraint behind almost every major ambition we have, but it doesn’t have to be,” said Dana Guernsey, Voltus’s chief executive.
A power plant made of batteries and air conditioning
Voltus runs what the industry calls a virtual power plant. It draws on batteries, cooling systems and industrial processes at thousands of businesses and homes. It then sells that flexible capacity into electricity markets every day. Participants earn money and can lower their energy bills.
Its website...
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