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Volta Industries announced its management's participation in several upcoming investor events, including the Bank of America Electric Vehicles Charging Summit on June 7, 2021, and the Deutsche Bank Global Auto Industry Conference on June 16, 2021. This follows Volta's previously disclosed business combination with Tortoise Acquisition Corp. II (NYSE: SNPR), expected to close in Q3 2021, with the new entity named Volta Inc. and trading under the ticker VLTA. Shareholder approval is required for completion, and all current Volta shareholders will retain equity post-transaction.
Volta has expanded its partnership with Macy's to install more electric vehicle (EV) charging stations nationwide. Currently, around 100 stations are in operation at nearly 40 locations, with plans to add 20 more this year. This collaboration has positively impacted over 7.6 million miles of zero tailpipe emissions and offset 3.4 million pounds of CO2. Volta's charging stations have increased 'shop and charge' visits at Macy's by 41%. The partnership aligns with Macy's commitment to sustainability and enhances customer engagement as part of Volta's innovative EV infrastructure strategy.
Volta Industries has appointed Francois Chadwick as its new Chief Financial Officer. Chadwick, who previously held a senior finance role at Uber, will lead Volta's finance team and guide growth plans following its proposed business merger with Tortoise Acquisition Corp. II (SNPR). With over 25 years in finance, Chadwick aims to enhance Volta’s financial strategies. The merger is expected to close in Q3 2021, pending shareholder approval. Volta focuses on building EV charging networks in consumer-centric locations, leveraging market shifts towards electric vehicles.
Volta Charging has successfully doubled its electric vehicle charging station network in just over two years, utilizing the Sitetracker platform for enhanced project management. The network consists of the most-utilized free EV charging stations in the U.S., located primarily in front of essential businesses. Volta's charging stations also serve as advertising platforms, benefitting partners and property owners. The company is expanding its operations nationwide, having recently announced a business combination with Tortoise Acquisition Corp. II, which will result in Volta Inc. trading under ticker symbol 'VLTA'.
Volta Industries has appointed Julie Rogers as Chief People Officer, effective immediately. Rogers, with over 25 years in People, Leadership, and Talent Development, previously worked at Komodo Health and other notable companies. In her role, she will oversee Volta's HR function and focus on enhancing company culture and organizational structure. Volta's unique EV charging network aims to capitalize on changing consumer behaviors, with charging stations located in popular retail spots. In February 2021, Volta announced a merger with Tortoise Acquisition Corp. II (NYSE: SNPR), expected to close soon.
Volta and Tortoise Acquisition Corp. II (NYSE: SNPR) announced a planned merger to form Volta Inc., which will trade under the new ticker 'VLTA'. The merger values the combined entity at over $2 billion, with anticipated net proceeds of $600 million to enhance Volta's EV charging network. This deal highlights Volta's unique advertising-supported business model designed for consumer engagement at charging stations. The transaction is set to close in late Q2 2021, subject to shareholder approval.
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