Voltus raises $225 million to expand flexible power capacity

Voltus has raised $225 million in a Series D round to expand a programme that lets large power users pay for electricity capacity gathered from homes and businesses. Generation Investment Management led the round, with Activate Capital and Vitol as co-leads. The company pools batteries, cooling systems and industrial processes, paying participants to cut, shift or supply power and selling that flexibility into electricity markets. The funding will expand its Bring Your Own Capacity programme in PJM and MISO, grid regions serving the eastern and central US. Voltus puts its current platform capacity at 8.5 gigawatts and expects to reach 20GW by 2030 across the US and Canada. It did not disclose its valuation.