Volta aims to invest in technology advancements along with systems integration and charging hardware
Volta Energy Technologies has announced that Equinor and Hanon Systems have joined its consortium which seeks to identify and invest in promising energy storage technologies. Both companies have made a five-year commitment to Volta as strategic investors.
“The biggest transition our modern day energy systems have ever seen is underway, demonstrated by the increase in demand for renewable, low-carbon energy; Equinor aims to be at the forefront of this development. Being able to store energy – either on the grid, or in electric vehicles that transport us and our goods – is a key enabler to this transition,” said vice-president and managing director of Equinor Energy Ventures Gareth Burns.
“The innovation landscape is dense with opportunity in storage, and we chose to partner with Volta to navigate this landscape because Volta has the expertise and model necessary to succeed.”
Volta launched its model to assess and invest in battery and energy storage innovations in partnership with founding strategic investors Exelon and Albemarle in December 2017. A year later, Volta’s consortium has grown to include corporate investors from a wide swath of complementary sectors.
“This partnership is important to Hanon Systems’ business to better understand how the next generation of battery technology can support the solutions we develop for automakers,” said Nurdal Kucukkaya, president of Hanon Systems. “Joining Volta as a strategic investor gives us access to the industry partners, energy innovators and technical experts necessary to provide our customers with the energy storage solutions they need.”
“Exelon launched and invested in Volta because energy storage represents an important next frontier in the energy system of the future,” said senior vice-president and chief innovation and sustainability officer at Exelon Chris Gould. “When we began our partnership, we envisioned building a cross-sector consortium of corporate partners who, like Exelon, operate at the forefront of innovation.We are pleased that Equinor and Hanon Systems have seen value in the Volta model, and we look forward to a fruitful collaboration.”
“Albemarle is pleased with Volta’s fast start of identifying multiple cutting-edge technologies since launching last year,” said Lithium Albemarle president Eric Norris.
Volta’s strategic investors will benefit from a growing portfolio of technologies and businesses that will enable the ubiquitous adoption of both renewable power generation and electric vehicles.
In the coming years, Volta aims to fill out a broad investment portfolio that includes technology advancements not only in chemistry and materials but also in systems integration, charging hardware, intelligent information technology and new business models.