Voltus raised $225 million in an oversubscribed Series D round to expand its distributed energy resource platform and increase the flexible electricity capacity it can provide to power markets across the U.S. and Canada. Generation Investment Management led the round, with Activate Capital and Vitol serving as co-leads. Broadscale Group, Climate Investment, NGP, Ajax Strategies, and All Aboard Fund also participated.
Voltus plans to use the funding to expand its platform to 20 gigawatts of capacity by 2030. The company will also advance its Bring Your Own Capacity program in the PJM and MISO electricity markets and grow the number of connected batteries and other distributed energy resources on its network.
The financing comes as electricity demand is expected to rise substantially across North America. The North American Electric Reliability Corporation expects peak demand to increase 24% over the next decade, more than double the growth rate it forecast two years earlier.
Voltus connects distributed energy resources such as batteries, building cooling systems, distributed generation, electric vehicles, and flexible industrial processes to electricity markets. The platform lets businesses and households reduce, shift, or supply electricity when needed, potentially generating revenue or lowering energy costs while adding capacity to the power grid.
The company’s strategy centers on using electricity capacity already connected to the grid rather than relying exclusively on new generation infrastructure. Voltus positions this flexibility as a way to address growing power requirements from data centers, AI infrastructure, electrification, and other sources while improving grid reliability.
Its commercial and industrial customers and distributed energy resource partners enable Voltus to manage flexible load, energy storage, distributed generation, energy efficiency, and electric-vehicle resources. Voltus can then aggregate these assets and dispatch them into electricity markets as a virtual power plant.
The Series D investors span energy infrastructure, sustainability, economic development, and technology markets. Voltus said the additional capital will support its efforts to make flexible capacity a larger, more consistent part of the electricity system as demand continues to rise.
KEY QUOTES:
“Electricity is now the constraint behind almost every major ambition we have, but it doesn’t have to be. The question is no longer whether the grid needs flexibility, it’s how quickly we can make it foundational.”
Dana Guernsey, CEO Of Voltus
“As electricity demand rises, the fastest, most cost effective and lowest-carbon source of new capacity is often the one already connected to the grid. Voltus turns the flexibility of businesses, homes and batteries into reliable power, helping the AI buildout meet its growing energy needs while reducing pressure to build new fossil-fuel infrastructure and making it easier to integrate renewables. The co-founders have spent more than a decade focused on this challenge, well before demand from data centers and electrification began to surge. We believe their experience and commitment put Voltus in a strong position to scale a solution that can help the grid meet rising demand more sustainably.”
Dave Easton, Partner, Growth Equity At Generation Investment Management
“Flexibility is the fastest and cheapest capacity the grid can add, and Voltus has spent a decade building the platform and market access to deliver it at scale. We first backed Voltus on that thesis, and demand from data centers and electrification has only strengthened it. Voltus is the best solution we’ve seen to the challenge of interconnecting large loads and decarbonizing our energy system while keeping retail rates affordable.”
Raj Atluru, Managing Partner At Activate Capital
“Economic success is dependent upon a resilient power system, enabled by companies such as Voltus. The demands of weather events and data centers require our power system to be smarter and more efficient. Vitol is one of the largest power traders in the US, giving us a deep understanding of market dynamics. We look forward to working with Voltus to develop its range of innovative product offerings.”
R. Andrew de Pass, Head Of Energy Transition Investments At Vitol Inc.
