We’re delighted to participate in Voltus’s oversubscribed $225M Series D. The round was led by our frequent co-investor Generation Investment Management, with Activate Capital, Climate Investment, NGP, Vitol, and others.

We’ve known Voltus well since 2021 and believe no one builds virtual power plants (VPPs) better. The company unlocks capacity already on the grid by paying businesses and homeowners to shift or reduce their power use when demand peaks. With its new Bring Your Own Capacity product, hyperscalers like Google can get power faster by funding flexibility in the communities where they need it.

Google recently expanded its VPP agreement with Voltus from 100 MW to 1 GW + across PJM, the largest of such deals. Read more here.

Read Andrew Shapiro’s full post on why we invested here.