Volta Charging, an ad-supported, free EV charging network, has received a loan that will allow it to expand its model across the US.
Volta announced that it’s received a $44 million credit facility from Energy Impact Partners, according to VentureBeat. President Chris Wendel said:
We are delighted to partner with EICF and CION to further develop Volta’s industry-leading charging network. Our years of experience in building a charging infrastructure that is economically viable, free to drivers, and optimized for the rapidly growing electric vehicle community pairs well with EICF’s passion for advancing clean transportation.
Volta’s website claims it has already delivered more than 40 million free electric miles from its ad-supported charging stations. The network currently has more than 700 chargers in 10 different states — about half of those chargers are in California.
A June article from the San Francisco Business Times noted that Volta has already received more than $62 million in funding. The startup aims to place its charging stations in high-traffic areas. Both the charging and installation are funded by ad partners.
Most Volta stations offer Level 2 chargers, though Level 3 chargers are also on the way.
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