by Volta Inc. (NYSE: VLTA) is a San Francisco-based electric vehicle charging company with a network of over 2900 charging stalls and over 4900 media screens across 28 states.
Dual Media and Charging network
What makes Volta really unique is being the only dual Media and Charging network. Partnerships include Krogers, Walgreens, Tanger Outlets, Cinemark, Topgolf, Six Flags, and many more.
With an appealing modern look, Volta strategically positions itself within places of establishments where consumers can benefit from the free 30-minute charging model on DC Fast Chargers. After the free 30-minute consumers have the option to leave or pay for additional charging time. L2 Chargers are still free to use according to Volta.
The digital advertising revenue generated and the partnerships help cover the cost of the free 30-minute DC Fast Chargers. Leveraging Volta’s free charging model, places of establishment could attract customers while their car is being charged. Digital advertising revenue is projected to reach over $1 Trillion in 2031 according to Altus Market Research.
“With high-impact, large-format digital screens located near the entrances of popular commercial properties and retail locations, Volta stations simultaneously serve as a demand-pull for EV adoption, attract loyal customers to sites, and allow brands to reach shoppers seconds before they enter a store to make a purchase.” stated Volta
European Expansion
On December 6th, 2021 Volta announced its expansion into the European Market. With an initial focus on Germany, Austria, Switzerland, and France.
“Volta continues to anticipate and guide the rapidly-evolving changes in consumer behavior around fueling and commerce – proving businesses can thrive while building a more sustainable future,” said Vincent Grena, Head of Volta Europe.
Europe remains to be a top priority in their expansion strategy as stated by Co-Founder Chris Wendel. On February 8th, 2022 Volta continues its expansion into Europe.
Biden’s Bipartisan Infrastructure
The Biden Administration recently announced the approval of the first 35 state plans to build out EV Charging Infrastructures. The infrastructure investment includes $7.5 billion in dedicated funding for EV infrastructure over the next 5 years. The state of Michigan is one of the first 35 states with plans approved.
Volta recently partnered with the State of Michigan and DTE Energy to use Volta’s PredictEV® software which uses machine learning to predict current and future EV charging needs.
Having state and utility provider partnerships may help Volta receive part of the $7.5 billion infrastructure investment.
“Along with DTE, Volta’s utility partners include SCE, Southern Company (which operates Georgia Power, Alabama Power, and Mississippi Power), and Tucson Electric Power. These utilities collectively serve an estimated 32 million Americans” according to Volta.
Volta is certainly an interesting company worth keeping an eye on. With strategic partnerships, a digital advertisement model, and an appealing free 30-minute fast charge; Volta could position itself to be a true competitor within the EV race.
