Voltus Announces $10 Million Funding to Reinvigorate Innovation in Demand Response
Published : Tuesday, October 24, 2017, 11:54 am
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Voltus, Inc., announced today that it has closed on a $10.1 million investment from Prelude Ventures and a family office represented by Energy Innovation.
Voltus's suite of energy management products and services delivers cash to commercial, institutional, and industrial customers at no-cost and no-risk in a simple, single page agreement. Combined with Voltus's industry-leading energy expertise and best-in-class cloud-based technology platform, this investment is meant to solidify Voltus as the world's leading provider of demand response.
"Customers are excited to take advantage of new demand response opportunities that can more than double the cash they're getting today," said Gregg Dixon, Voltus's CEO. "This investment will help us widen our lead in offering customers more demand response programs in more markets than any of our competitors. We're bringing transparency, simplicity, and energy markets expertise at a time when it's needed most, ultimately to deliver a simple promise: less energy, more cash."
"The demand response market went through a rough patch when federal jurisdiction of the resource was called into question, ultimately resulting in a resounding victory at the United States Supreme Court for not only demand response but all distributed energy resources," said Veery Maxwell, Director of Energy Innovation, and now a member of the Voltus Board of Directors.
"With this risk addressed, we were eager to invest in a truly innovative demand response solution that would reinvigorate growth in this vital national resource. Not only does Voltus have the most experienced and successful leadership team in demand response, but they developed a best-in-class distributed energy resource technology platform that scales for rapid growth while opening entirely new markets that others couldn't."
"We learned quickly that Voltus customers really appreciate their focus on fundamentals and we're excited to support their aggressive plan to bring this industry back into focus," said Tim Woodward, Managing Director of Prelude Ventures, and now a member of the Voltus Board of Directors.
"With hundreds of customers already signed, a proven technology platform that has already delivered greater than 100 percent performance to their utility customers, and a dream team of talent, we were sure from the first conversation that we wanted to be part of their vision."
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