ImpactAlpha, December 7 – It wasn’t so long ago that billion-dollar deals, mergers and valuations in the low-carbon transition were rare.
Voltus, which helps large companies and property owners manage their energy consumption in line with grid demands, is looking to raise $445 million through its merger with the special purpose acquisition company, or SPAC, Broadscale Acquisition Corp. The deal would value the company at $1.3 billion.
As a software play, Voltus stands out in a spate of energy-transition SPACs dominated by hardware such as batteries, electric vehicles and EV-charging companies.
Voltus’ cloud software manages electrical loads from large customers; reducing consumption in response to high demand is the virtual equivalent of bringing a power plant online.
