Volta Inc. (VLTA): history, ownership, mission, how it works & makes money

A Brief History of Volta Inc. (VLTA)

Foundation and Early Development

Volta Inc. was founded in 2010 by Scott Mercer, who aimed to create a comprehensive electric vehicle (EV) charging network. The company began its operations in San Francisco, California, focusing on developing innovative charging solutions in urban areas.

Key Milestones

• 2010: Volta Inc. is founded.
• 2017: Volta launched its first charging stations, primarily targeting high-traffic locations such as shopping centers.
• 2019: Acquired the rights to a range of patents enhancing charging technology.
• 2020: Expanded to over 1,000 public charging stations across the United States.
• 2021: Merged with a special purpose acquisition company (SPAC), resulting in its public listing under the ticker VLTA.
• 2022: Reported a significant increase in charging station installations, reaching 1,800 stations.

Financial Performance

As of Q2 2023, Volta Inc. reported revenues of $9.8 million, reflecting a revenue increase of 40% compared to the same period in 2022. The company’s net loss for the same quarter amounted to $12.2 million.

Strategic Partnerships

Volta has formed partnerships with major brands and municipalities to expand its charging network. These partnerships include:

• Collaboration with retailers such as Walmart and CVS to install charging stations at their locations.
• Agreements with various city governments to deploy charging infrastructure.
• Partnerships with electric vehicle manufacturers to provide integrated charging solutions.

Market Position and Competitors

As of 2023, Volta is positioned as one of the leading EV charging providers in the U.S., competing with companies such as ChargePoint and EVgo. The competitive landscape includes:

• ChargePoint: Over 25,000 charging locations nationwide.
• EVgo: More than 800 fast charging stations.
• Blink Charging: Around 30,000 charging points available.

Future Outlook

The company aims to increase its charging stations to at least 5,000 by 2025 in response to the growing demand for electric vehicles. Volta's long-term strategy includes increasing revenue to $50 million by 2025, driven by new station installations and strategic partnerships.

A Who Owns Volta Inc. (VLTA)

Ownership Structure

Volta Inc. (VLTA) operates under a publicly traded structure, which means its ownership is divided among numerous shareholders. As of recent filings, the following institutions and individuals hold significant stakes in the company:

Major Shareholders Analysis

The largest shareholders of Volta Inc. play a critical role in its governance and strategic direction:

• The Vanguard Group, Inc. has approximately 9.1% of shares, making it the largest institutional shareholder. Their investment strategy typically focuses on long-term growth.
• BlackRock, Inc., with an 8.5% stake, is known for its extensive investment portfolio and typically engages in shareholder advocacy for corporate governance improvements.
• Renaissance Technologies LLC operates as a hedge fund and holds about 6.2% of Volta’s shares, usually employing quantitative trading strategies.
• Wellington Management Co. LLP has a 5.3% stake, emphasizing a research-driven approach to its investment decisions.
• Insider Ownership of 14.0% indicates that company executives and board members have a vested interest in the company’s performance.

Recent Stock Performance

Volta Inc.'s stock has exhibited volatility, which is typical in the EV charging sector. Key financial performance indicators include:

Future Outlook and Market Position

Volta Inc. aims to capitalize on the growing demand for electric vehicle charging infrastructure. Analysts project that the global EV charging market will reach approximately $100 billion by 2025, with companies like Volta positioned to gain a significant share.

Conclusion on Ownership Dynamics

Understanding the ownership structure of Volta Inc. is vital as it influences corporate governance and strategic decision-making. Its mix of institutional and insider ownership provides a balanced approach to both operational oversight and long-term investments.

Volta Inc. (VLTA) Mission Statement

Overview of Volta Inc.

Volta Inc. operates within the electric vehicle (EV) charging space, focusing on infrastructure development to facilitate the widespread adoption of EVs. The company's mission is to enhance the EV driving experience through strategic partnerships and innovative charging solutions.

Mission Statement

The mission of Volta Inc. is to provide accessible, reliable, and efficient electric vehicle charging solutions, aiming to accelerate the transition to sustainable energy by partnering with retailers and urban developers to install charging stations in high-traffic areas.

Key Elements of the Mission Statement

• Accessibility: Ensuring charging stations are easily reachable for consumers.
• Reliability: Providing dependable charging options that drivers can trust.
• Sustainability: Contributing to environmental goals by promoting electric vehicle usage.
• Partnerships: Collaborating with businesses and municipalities to expand charging infrastructure.

Recent Financial Performance

As of the latest reporting period, Volta Inc. reported the following financial metrics:

Growth Strategies

Volta Inc. is pursuing several growth strategies to align with its mission:

• Expanding Charging Network: Increasing the number of charging locations across the United States.
• Product Innovation: Developing advanced charging solutions to enhance user experience.
• Strategic Collaborations: Forming partnerships with key stakeholders in the EV ecosystem.
• Market Penetration: Targeting urban areas with high EV adoption rates.

Market Trends and Statistics

The electric vehicle market is experiencing significant growth, with projections indicating a compound annual growth rate (CAGR) of approximately 29% from 2022 to 2030. The following statistics illustrate current market dynamics:

Conclusion of Current Mission and Vision

With its current mission, Volta Inc. is well-positioned to capitalize on the growth of electric vehicles and the supporting infrastructure needed to sustain this expansion.

How Volta Inc. (VLTA) Works

Business Model

Volta Inc. operates primarily as an electric vehicle (EV) charging network that focuses on providing charging stations primarily in urban environments, retail locations, and high-traffic areas. The company generates revenue through:

• Charging fees paid by electric vehicle owners.
• Advertising revenue from digital screens integrated into charging stations, offering targeted advertising opportunities to brands looking to reach EV drivers.
• Partnerships with retail and commercial properties for installation and operation of charging stations.

Market Presence

As of 2023, Volta operates over 2,000 charging stations across the United States. The company has established partnerships with major retailers such as:

• Walmart
• Albertsons
• Target

Financial Performance

In the fiscal year of 2022, Volta reported total revenue of $12.2 million, a significant increase from $6.8 million in 2021. The company's gross profit margin stood at approximately 45%.

Charging Infrastructure

Volta's charging stations are equipped with Level 2 AC chargers and DC fast chargers, providing options for different charging needs. The average charging session lasts around 45 minutes to an hour, depending on the vehicle.

Advertising Model

The advertising screens at Volta's charging stations generate additional revenue. As per recent data, the company reported advertising revenue of $4.5 million in 2022, with projected growth reaching $10 million by 2024. The screens provide opportunities for:

• Static advertisements
• Dynamic video content
• Promotional deals from local businesses

Future Growth Strategy

Volta aims to expand its footprint significantly, targeting a goal of over 10,000 charging stations by 2026. The focus will be on:

• Increasing partnerships with more retail and commercial properties.
• Enhancing technological capabilities for faster charging solutions.
• Expanding advertising partnerships to boost revenue.

Funding and Investments

As of 2023, Volta has raised approximately $220 million from various funding rounds, including a notable $100 million Series D round in late 2021. The company’s cash runway is projected to last until late 2024, assuming current spending rates.

Competitive Landscape

Volta competes with several key players in the EV charging market, including:

• ChargePoint
• EVgo
• Electrify America

As of 2023, ChargePoint leads the market with over 25,000 charging stations across the U.S., while EVgo has about 1,000 fast chargers.

Regulatory Environment

Volta benefits from numerous government incentives aimed at increasing the adoption of electric vehicles, including:

• The federal EV tax credit up to $7,500 per vehicle.
• State-level incentives ranging from rebates to grants for EV infrastructure.

How Volta Inc. (VLTA) Makes Money

Revenue Streams

Volta Inc. primarily generates revenue through the following streams:

• Advertising revenue through digital screens on charging stations.
• Charging station installation and software services.
• Partnerships with retail locations and municipalities for EV charging solutions.

Advertising Revenue

Volta's unique proposition is leveraging its charging stations as platforms for advertising. In Q2 2023, the company reported:

Charging Station Installation

Volta also earns from installing charging stations. The company has deployed more than 2,000 charging stations across the United States as of October 2023. The average installation cost per station is approximately:

Partnerships

Volta's business model is reinforced through strategic partnerships. The company has established collaborations with major retailers and municipalities, enhancing its market presence. In 2022, Volta signed agreements with:

• Walmart
• Hy-Vee
• Various local governments

Financial Performance

In terms of overall financial performance, Volta's revenue for the fiscal year 2022 was:

Recent Developments

As of 2023, Volta is expanding its charging network to meet increasing demand. The projected growth in the EV market indicates significant potential:

• The global EV market is expected to grow to $1,000 billion by 2026.
• Over 20 million EVs are anticipated on the road by 2025 in the U.S. alone.

Valuation Metrics

Volta Inc. is being evaluated on several key financial metrics: