Volta Partners With Floor & Decor to Provide Electric Vehicle Charging

Rhea-AI Summary

Volta Inc. (NYSE: VLTA) has partnered with Floor & Decor to provide exclusive electric vehicle (EV) charging stations at select locations across the U.S. The initiative will see charging stations installed at eight Floor & Decor stores by the end of 2021, with plans for further expansion in 2022. This collaboration aims to enhance customer experience and promote environmental sustainability. Volta focuses on strategically placing charging stations where consumers spend time, driving the shift towards electric mobility.

Positive

• Exclusive partnership with Floor & Decor increases EV charging accessibility for customers.
• Charging stations to be installed at eight locations by the end of 2021, with more planned for 2022.

Negative

• None.

Volta to be the exclusive EV charging partner for select Floor & Decor locations

SAN FRANCISCO--(BUSINESS WIRE)-- Volta Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, is partnering with Floor & Decor, a leading specialty retailer of hard-surface flooring, to make EV charging accessible to its customers at their warehouse stores across the United States. The charging stations are slated to be in place for customers at 8 Floor & Decor locations by the end of 2021, with more stations nationwide in 2022.

Volta Partners With Floor & Decor to Provide Electric Vehicle Charging (Photo: Business Wire)

Floor & Decor offers homeowners and professionals the industry’s broadest in-stock selection of tile, natural wood, natural stone, laminate, and luxury vinyl plank under one roof. The addition of Volta stations will provide Floor & Decor customers with an additional, high-value service as they shop.

“Floor & Decor strives to make a positive impact in the communities where we live and work, and the addition of Volta charging stations provides both convenience and the ability for our customers to lower their environmental impact,” said Brandon Shah, Senior Manager, Real Estate Consolidated Systems of Floor & Decor.

Founded on the premise that the electrification of mobility is likely to be a transformational shift, Volta builds and operates a nationwide EV charging network that has among the best utilization per station in the EV charging industry for the United States. Centered around capturing new spending habits expected to result from the shift to electric vehicles, Volta seeks to transform the fueling industry by building charging stations in locations where drivers already spend their time and money, including grocery stores, pharmacies and other retail locations.

“Volta’s mission is to offer convenient, reliable electric vehicle charging at the places people go, by showing that people can fuel up where they drive, not drive to fuel,” said Scott Mercer, Founder and CEO of Volta. “EV charging is an ideal service for businesses, such as Floor & Decor, who want to show that they care about creating a superior shopper experience as well as environmental impact.”

About Volta

Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.

Forward-Looking Statements

This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the electric vehicle (“EV”) charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those factors discussed in Volta’s Annual Report on Form 10-K, as amended, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

About Floor & Decor

Founded in 2000, Atlanta-based Floor & Decor is a leading high growth specialty retailer of hard-surface flooring, operating 147 warehouse stores and two design studios in 33 states at the end of the second quarter of fiscal 2021. The stores offer homeowners and professionals the industry’s broadest in-stock selection of tile, natural wood, natural stone, laminate, and luxury vinyl plank, under one roof. In addition, Floor & Decor stocks the necessary tools, decorative materials, wall tile, and related accessories for hard-surface flooring projects. Stores carry over 1 million square feet of in-stock flooring and offer free design services, as well as a dedicated pro sales team. The company directly sources products from manufacturers around the globe, which enables it to bring the world’s best and most innovative flooring trends to its customers, at everyday low prices. Floor & Decor has locations nationwide, but each store is bolstered by a local focus that creates a store experience and mix of products that meet the needs of each market served. Additional company information can be found at www.flooranddecor.com and on Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005229/en/

Sabrina Strauss

Goodman Media International, Inc.

VoltaPR@goodmanmedia.com

Source: Volta Inc.

FAQ

What is Volta's partnership with Floor & Decor?

Volta Inc. has partnered with Floor & Decor to provide exclusive electric vehicle charging stations at selected retail locations across the U.S.

When will the Volta charging stations be installed?

The charging stations are expected to be installed at eight Floor & Decor locations by the end of 2021, with further installations planned in 2022.

What stock symbol represents Volta Inc.?

Volta Inc. is represented by the stock symbol VLTA on the New York Stock Exchange.

How does Volta's mission relate to the EV market?

Volta's mission aims to provide convenient EV charging solutions at locations where consumers already shop, thereby facilitating the transition to electric vehicles.