Voltus, a technology platform for the electricity market, goes public in a $1.3 billion SPAC deal

Voltus Inc. is going public with a merger with a special-purpose takeover company in a merger that values ​​the electricity market tech startup at $1.3 billion, the two companies say.

Headquartered in San Francisco, Voltus uses decentralized micro-management software electrical systems They are known as distributed energy resources to customers such as Coca-Cola and Home Depot Inc. Called DERs, distributed energy resources are anything that consumes, produces, or stores electricity that can be connected to a grid. Examples include electrical demand in the store and electric vehicle charging.