Voltus Inc. goes public by combining with a special-purpose acquisition firm in a merger that values the electricity-market expertise startup at about $1.3 billion, the businesses mentioned.
Based mostly in San Francisco, Voltus makes use of software program to handle small, decentralized electrical energy programs referred to as distributed power sources for patrons akin to Coca-Cola Co. and Dwelling Depot Inc. Known as DERs, distributed power sources are something that consumes, produces or shops electrical energy and may be linked to a grid. Examples embrace a retailer’s electrical energy demand and electric-vehicle charging.
