VLTA - VLTA STOCK NEWS

Volta Inc. (NYSE: VLTA) has partnered with the City of Hoboken to install 25 public EV charging stalls over 18 months, doubling the city’s current capacity. This collaboration aims to enhance urban EV charging accessibility without impacting the municipal budget. The initiative supports Hoboken's Climate Action Plan, projected to eliminate 2,250 tons of carbon pollution by 2024 and save residents $1.2 million annually on gas. Additionally, Volta Media Network’s digital advertising screens will boost local business visibility while generating revenue to offset installation costs.

Volta Inc. partners with Michelin North America to boost awareness of Michelin's EV-specific tires through the 'Motion For Life' campaign. The initiative increased awareness by 70% and improved Michelin's environmentally friendly perception by 38%. Volta's charging stations, located strategically, delivered over 470,000 electric miles to EV drivers, preventing an estimated 113 tons of CO2 emissions. This collaboration highlights Michelin's commitment to EV performance and environmental sustainability while positioning Volta as a leader in EV charging solutions.

Volta Inc. (NYSE: VLTA) has strengthened its executive team with the appointment of Michelle Kley as Chief Legal Officer and William Cooper as Deputy General Counsel. Kley, previously with Virgin Galactic, brings extensive legal and compliance experience. Cooper, joining from Sidley Austin LLP, has a strong background in capital markets and governance. These appointments are expected to help Volta enhance its leadership in the EV charging market and advance its strategic goals.

Volta Inc. (NYSE: VLTA) has appointed Yifan Tang as the new Chief Technology Officer, effective immediately. Tang is an established leader in the electric vehicle sector, previously serving at SERES EV and co-founding TeraWatt Technology. With a PhD in Electrical Engineering and numerous patents, his expertise is expected to enhance Volta's technological capabilities and market position. Interim CEO Vince Cubbage highlighted Tang's credentials as crucial for Volta's goals in the evolving EV marketplace.

Volta Inc. (NYSE: VLTA) announced a collaboration with The Kroger Co. to introduce DC Fast and Level 2 charging stations at 16 locations in Atlanta and Indianapolis, with plans for expansion to cities including Columbus, Cincinnati, and Southern California. This initiative not only enhances EV charging access for consumers but also allows Kroger to leverage Volta's advertising capabilities to drive sales and environmental impact. The partnership aligns with Kroger's goals of sustainable retailing and expanding EV infrastructure nationwide.

Volta Inc. (NYSE: VLTA) has appointed Vince Cubbage as Interim Chief Executive Officer, with Stephen Pilatzke becoming the Chief Accounting Officer. Brandt Hastings has been promoted to Chief Commercial Officer, and Drew Lipsher to Chief Development Officer. These leadership changes aim to enhance operational success and capitalize on growth opportunities in the electric vehicle charging sector. Cubbage brings over 25 years of experience, while Pilatzke joins with extensive financial reporting expertise. The Board also seeks a successor for the outgoing CFO, Francois Chadwick.

Catalina has formed a strategic partnership with Volta Inc. (NYSE: VLTA) to enhance its place-based media offering using Volta's EV charging network. The collaboration aims to leverage Catalina's measurement services to demonstrate the effectiveness of campaigns at driving sales for retailers such as Dole. Initial results from campaigns show an 8% sales lift for Dole and a 15% lift for a fast-casual restaurant, highlighting the partnership's potential to influence consumer spending. Volta's network currently generates over 900 million monthly impressions across 4,600+ screens nationwide.

Volta Inc. (NYSE: VLTA, VLTA WS) reported a 77% year-over-year revenue increase to $8.4 million for Q1 2022. Media revenue rose by 73% to $6.1 million, while total installed charging stalls grew 39% to 2,548. The company expanded partnerships with notable brands like Tanger Outlets and Six Flags, enhancing its position in the EV charging market. Despite a net loss of $48.1 million, cash reserves stood at $205.4 million. Volta maintains a revenue guidance of $70-$80 million for FY 2022, with Q2 expectations between $13-$14 million.

Volta Inc. (NYSE: VLTA) is set to release its first quarter 2022 results on Friday, May 13, 2022, before market open. This announcement will be followed by a conference call at 8:00 a.m. Eastern Time. Investors can listen to the call through the Investor Relations section of Volta's website or via telephone. A replay of the call will be available approximately three hours after it concludes, lasting until May 27, 2022. Volta is a leading provider of commerce-centric EV charging networks, aiming to support the transition to electric mobility.