VLTA - VLTA STOCK NEWS

Volta Inc. (NYSE: VLTA) announced an enhancement to its PredictEV® infrastructure planning solution, focusing on optimizing EV charger locations for disadvantaged communities (DACs). This new feature analyzes travel patterns of DAC residents, ensuring effective use of infrastructure funds for the Charging and Fueling Infrastructure Discretionary Grant Program aligned with the federal Justice40 goal. By leveraging local mobility and demographic data, PredictEV® aims to accelerate EV adoption in these underserved areas. The tool has been applied in Alabama and collaborates with various electric utilities to forecast EV charging demand.

Volta Inc. (NYSE: VLTA) announced its collaboration with the City of Irving, Texas, utilizing its PredictEV platform to conduct a comprehensive electric vehicle (EV) charging assessment. This project aims to identify optimal charging infrastructure, particularly in disadvantaged communities, supporting Irving's application for future federal grants, including the $1.25B allocated under the Bipartisan Infrastructure Law. Mayor Rick Stopfer emphasized the importance of a data-driven infrastructure strategy to meet the growing EV demand. Volta's PredictEV is designed to enhance EV infrastructure planning by analyzing mobility and demographic data.

Volta Inc. (NYSE: VLTA) announces its founding partnership with Ad Net Zero for the USA chapter, positioning itself as a leader in decarbonizing digital media. As the sole digital out-of-home media network in this initiative, Volta aims to support advertising leaders in reducing emissions while driving sales. The company's Volta Media Network features over 5,700 large-format digital screens integrated within EV charging stations, promoting sustainable consumer behaviors. With over 150 million electric miles provided and 70 million pounds of CO2 emissions avoided, Volta continues to drive the transition to a clean energy future.

Shell USA Inc. has announced the acquisition of Volta Inc. in an all-cash transaction valued at approximately $169 million. This deal, which represents an 18% premium over Volta's last closing price before the announcement, aims to enhance Shell's capabilities in the electric vehicle (EV) charging sector. Volta's advanced dual charging and media network will complement Shell's established brand, unlocking long-term growth opportunities in the EV market. The transaction is expected to close in the first half of 2023 and is subject to stockholder and regulatory approvals.

Volta Inc. (NYSE: VLTA, VLTA WS) has received notice from the NYSE for non-compliance with listing standards due to its Class A Common Stock averaging below $1.00 for 30 consecutive trading days. The company can regain compliance within six months if the stock closes above $1.00 for a sufficient period. Volta aims to notify the NYSE of its intention to cure this deficiency by December 8, 2022, and may pursue a reverse stock split subject to shareholder approval at the next annual meeting. The stock will remain listed during this correction period.

Volta Inc. (NYSE: VLTA) has secured a grant from the U.S. Department of Energy’s ARPA-E for a collaborative project with Imagen Energy to develop advanced electric vehicle charging technology. This initiative aims to create more affordable and efficient DC Fast Chargers that comply with the Bipartisan Infrastructure Law. With a focus on scalable, powerful, and flexible charging solutions, Volta’s PredictEV software will enhance site selection for optimal deployment.

Volta reported a strong third quarter, with revenue increasing 69% year-over-year to $14.4 million. Notably, media revenue reached a record $12.2 million, reflecting a 66% year-over-year increase. The network of installed charging stalls grew by 173 to 3,093 stalls, marking a 45% rise year-over-year. Volta significantly reduced SG&A expenses by 43%, with a 54% cut in U.S. headcount. The company continues to align with federal initiatives to deploy EV infrastructure and expand its digital advertising business, leveraging its extensive media network.

Volta Inc. (NYSE: VLTA) has released its second annual Climate Conscious Consumer study, revealing that 55% of Americans now identify as climate-conscious, up 15% from 2021. This shift indicates a growing demand for EV charging infrastructure, particularly in urban areas. Key findings show that climate-conscious consumers are more tech-savvy and expect personalized advertising. Volta's charging stations, equipped with digital displays, provide brands with a platform to effectively reach this demographic. The study emphasizes the importance of accessible EV charging in densely populated regions to support the next wave of EV ownership.

Volta Inc. (NYSE: VLTA) will host its third quarter 2022 earnings conference call on November 14, 2022, at 5:00 p.m. ET. Investors can listen to the live call via the Company's Investor Relations webpage. The call will also be accessible via phone, with a replay available shortly after its conclusion.

Volta specializes in electric vehicle charging solutions, integrating digital advertising with charging stations located in high-traffic commercial areas, enhancing engagement for retailers and brands while supporting the clean energy movement.