California-Based Voltus Secures $225M in Series D Funding

Voltus, a San Francisco, CA-based provider of a distributed energy resource (DER) technology platform and virtual power plant operator, has secured $225 million in a Series D funding round.

The round was led by Generation Investment Management, Activate Capital and Vitol, with participation from Broadscale Group, Climate Investment, NGP, Ajax Strategies, and All Aboard Fund.

The company plans to use the funding to expand its platform to 20 gigawatts (GW) by 2030, advance its Bring Your Own Capacity (BYOC) program in PJM and MISO, and strengthen its presence across the United States and Canada.

What is Voltus?

Voltus operates a technology platform that connects distributed energy resources to electricity markets. It works with businesses and homes to make better use of available energy capacity, including batteries, cooling systems, industrial processes, distributed generation, energy storage, and energy efficiency systems.

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Through its platform, Voltus can coordinate resources that reduce, shift, or supply electricity when needed. Participants can lower their energy bills and earn additional revenue by making their flexible energy capacity available to electricity markets.

The company aims to improve grid reliability and help meet rising electricity demand by making better use of existing energy infrastructure.

How Much Funding Has Voltus Raised?

Voltus has raised $225 million in its latest Series D funding round.

The funding announcement does not provide details about previous funding rounds or the company's total funding raised to date.

Who Invested in Voltus’s Series D?

The $225 million Series D round was led by three investors:

• Generation Investment Management
• Activate Capital
• Vitol

Other participating investors include:

• Broadscale Group
• Climate Investment
• NGP
• Ajax Strategies
• All Aboard Fund

Why the Funding Matters

Voltus will use the funding to expand its platform toward a target of 20 GW by 2030. The company also plans to advance its BYOC program in the PJM and MISO electricity markets and strengthen its position across the United States and Canada.

The investment comes as electricity demand is expected to rise. According to the company’s announcement, the North American Electric Reliability Corporation (NERC) expects peak demand to grow 24% over the next decade, more than twice the growth forecast it made two years earlier.

Who founded Voltus?

Voltus was founded in 2016 by Dana Guernsey, Matthew Plante, and Neil Lakin. The company is headquartered in San Francisco, California.

It operates a distributed energy resource technology platform and virtual power plant service that helps commercial and industrial customers and energy partners earn value from flexible electricity capacity.

“As electricity demand rises, the fastest, most cost-effective and lowest-carbon source of new capacity is often the one already connected to the grid,” said Dave Easton, Partner, Growth Equity, Generation Investment Management.

Market and Business Growth

Voltus works with businesses and distributed energy resource partners to connect flexible electricity loads, power generation, energy storage, energy efficiency, and electric vehicle resources to electricity markets.

Its platform coordinates energy resources that can respond to market needs, helping customers manage energy costs while supporting grid reliability.

The company aims to expand its platform to 20 GW by 2030 and grow its presence across the United States and Canada. The announcement does not provide specific revenue or customer growth figures.

What Happens Next?

Voltus plans to scale its platform, advance its BYOC program in PJM and MISO, and expand its presence across North America.

The company will continue connecting distributed energy resources to electricity markets to help meet rising demand and improve the use of existing grid infrastructure.

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